Agents say half of high-net-worth travellers looking for luxury rentals in New Zealand are being turned away, with too few properties to meet booming demand.

Stay Luxe, a premium accommodation agency, reports up to 50 enquiries each week from overseas guests ready to pay as much as $15,000 per night.

Many want full-service stays with chefs, wellness treatments, and long rental periods from three weeks to a year.

Co-founder Greg Owen says the shortage means “as many guests as we accept, we turn away,” leaving money on the table for both homeowners and the wider economy.

He notes one booking involved $500,000 for a 90-day stay plus $150,000 in support services.

Another $150,000 waterfront rental was booked online without inspection, showing the level of trust in the market.

Unlike hotels, Owen says luxury homes offer wealthy visitors a taste of local life, including schools, communities and suburban living, often leading to multimillion-dollar property purchases.

About one in ten renters eventually buys the home they stayed in.

The most sought-after areas include central Auckland’s Remuera and St Heliers, waterfront estates and lifestyle properties in Coatesville.

Americans favour modern, open-plan waterfront homes, while Europeans lean toward renovated villas with character charm.

For Coast homeowners, the trend could be a lucrative opportunity.

With large executive homes often sitting empty while owners travel, Owen says properties could command $8,000 a week instead of $2,000 on the standard rental market.

He warns that unless more stock is made available, New Zealand risks losing wealthy travellers and their spending in restaurants, retail and local services to countries like Australia.

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