We are building 3 bedroom townhouses in Perth for $438,000 NZD (Limited Stock). The price includes build costs, land costs, subdivision fees and stamp duty fees - a 6% rental yield - around $100,000 in estimated equity gain in the first year - a 2 year rent guarantee – a fixed build price (no escalations) and a full Master Build Guarantee. In New Zealand this build would cost $775,000, you do the math.