Buying Realestate in Wellington New Zealand

[Surjeet Jubbal]

Hello Folks, I've recently relocated to NZ and had started looking into buying an apartment or house (2-3 bed).. based on what I've learnt from BiggerPockets is that you're better off with 2% Rule to remain profitable. Now the problem that I see here is that an average property is around 330k - 370k (nothing less) for a 2 or 3 bed apartment. The rents on an average is about $350 -$425pw depending on the location and amenities... wondering how should one approach to investing in a market like this where you can make only 1% ? And then you have this 50% of expenses :(