When will New Zealand wake up to foreign property investment? As Singapore and Hong Kong clamp down with further taxes to curb their over heated residential property markets, those same investors flock to New Zealand to fuel ours. Figures suggest that 10% of NZ house purchases are by foreign investors but over look that most of those sales are in Auckland so the real figures are much higher. We should remind ourselves that we can not buy properties in these countries. What will happen to the NZ dream as progressively more of our residential property slips into foreign ownership pushing up prices as they do so, Kiwis will become tenants in their own land.
comment by
warren arthur wilson
No comments:
Post a Comment