Thread: New Zealand bans sale of homes to foreigners

We didn't cut them off, just taxed them. Twenty years too late.
The Chinese owned homes and condos don't have 20 people in them, a lot of them are empty and creating a serious shortage in rental stock, which leads to higher rents. I've got a great credit rating and when it all goes tits up and prices plummet I'll buy a few places.

Originally Posted by Little Chuchok

Plenty of investors with Chinese names, are also New Zealanders,

... as a backdoor entry into Australia ... the ultimate prize

Originally Posted by David48atTD

... as a backdoor entry into Australia ... the ultimate prize

Originally Posted by David48atTD

... as a backdoor entry into Australia ... the ultimate prize

First prize - a week in Perth...

Second prize - two weeks in Perth...


with apologies to WC Fields

Originally Posted by David48atTD

... as a backdoor entry into Australia ... the ultimate prize

David, you surprise me!
You really fancy the idea of some chink smashing your back doors in?

Originally Posted by Little Chuchok

The assumption in NZ is that it is all down to Chinese investors.It's an assumption only. Plenty of investors with Chinese names, are also New Zealanders, but the media and some politicians assume they all live in Guangzhou.

Plenty of Aussies,Yanks and Europe types buying land here too..Most of them are white, so it's ok.....

Funny how that works, huh....

Originally Posted by bsnub

I wish that could happen where I live. The Chinese have hit our market hard after British Columbia cut them off.

So it would be ok if they were white anglo saxons?

Originally Posted by David48atTD

... as a backdoor entry into Australia ... the ultimate prize

Originally Posted by Switch

David, you surprise me!
You really fancy the idea of some chink smashing your back doors in?

-----

More recently, migrants from other countries have been using New Zealand as a back door into Australia.

In the past 10 years, the number of New Zealand citizens born in a third country and moving to Australia has grown from just 960 a year
to almost 10,000, according to Australian immigration figures.

That number represents more than 1 in 9 of the migrants settling in Australia annually. In many cases, Australian officials say, the New Zealand
migrants originally from places like China and small Pacific nations like Tonga and Samoa are ones Australia wouldn't normally accept.

^I understood the comment mate, I was just having fun with it

Originally Posted by OhOh

Who or what is stopping new developments, their allegedly is great demand both it seems by the locals and "foreigners".? Or shall we continue to blame a group of now affluent foreigners. Is all housing development government planned and constructed, where are the local capitalists investment going?

Are the locals missing a win/win solution?

The chinkies is snapping it all up and pricing the locals out of the market you dumb shit.

Originally Posted by Switch

I have always liked New Zealand as a country. Is this new centre left government being populist, or moving to the right?

New Zealand is the kind of place you hope the U.K. might become one day.

Despite some indigenous issues, and the influence of big brother Oz, I still find the country an attractive proposition.
Generally nice easy going folk too.

Don't be so fucking wet. They're the same as any other small-minded, parochial, xenophobic white fucker protecting their self interests and exactly the same as any other selfish cvunt anywhere else on the planet.
The reason there are so many middle class and blue collar migrants in NZ is because all the intelligent, creative and ambitious Kiwis fuck off to the UK and Yerp as soon as they can.
Kiwis are dull folk whose main form of social intercourse, for many, is their local church hall which puts it on the map for folk more intelligent than you Chas.

Nice scenery but the housing stock is total shit because they never build properly for inclement weather. Their Maori underclasses are vicious stupid fuckers built like fucking outhouses and nothing of any interest ever ha[pens except the odd calamitous earthquake.

Chas, you twat, fuck off to the Dolomites and play yourself some NZ cricket commentaries whilst reading a Scottish underwear catalogue for oversized ginger-haired women - it'll spare you the trip and save you loads.

Originally Posted by Seekingasylum

Kiwis are dull folk whose main form of social intercourse, for many, is their local church hall

Wot? 1940's NZ just rang for you, they left a message: 'Get with the times'.

Originally Posted by Seekingasylum

Nice scenery but the housing stock is total shit because they never build properly for inclement weather.

Good ol' Kiwi wooden tents. Good in earthquakes ('cos they're flexible), but shit at keeping a person warm in winter.

Originally Posted by Seekingasylum

...play yourself some NZ cricket commentaries whilst reading a Scottish underwear catalogue for oversized ginger-haired women - it'll spare you the trip and save you loads.

Kinda harsh, but it made me laugh.

Good news for Kiwis I think.

Originally Posted by TuskegeeBen

I'm curious to read a few details, associated with that ^ "horrible experience" you had, with a Honduran family, living on the next street over???? For example,..etc...

Third World savages.
Whatta gonna do.......

Originally Posted by harrybarracuda

Chinese investors have been among the biggest and most active offshore buyers of property in the New Zealand market.

Originally Posted by headhunter

generally nice easy going folk to,it wont be if you have a house full of chinkies living next to you.

This is where things get all mixed up. Chinese investors, with billions to burn, buy property all around the world, often leaving them empty as seen throughout London, because it is less hassle to rent it out, and by ensuring constant constriction of the available housing stock, prices go up. Nothing to do with immigrant workers living in a house they are probably renting from a paki.

Banning non citizens / residents from owning property would in the UK see a rapid drop in housing prices as the offshore owned properties were flooded back onto the market, especially if they were forced to sell within a time period of say a year. That would be a good thing as well. Until everyone has a house of their own in a supposed rich country, there is no benefit to society of encouraging the rentier class to hoard houses and land.

Torys and their filth supporters tend to like to believe that some prefer to rent, or some like the flexibility of renting. Not really. Most people want to own a house as opposed to living in a place where they pay someone elses mortgage for them.

Good on NZ. Well done.

The problem isn't individual investors. The problem is the "housing market" is manipulated by investment money. REIT, real estate investment trusts, AirBNB's, etc. have generated successful investment returns. Investment monies find ways around the "roadblocks".

When restrictions on "foreigners" purchasing properties cause prices to drop REIT's pick up the "cheaper" housing - long term investments. Making viable investment businesses from "rentals".

There are always ways to get around restrictions. Individual purchases can't compete against pooled investment monies.

Look at what "restricting" foreign ownership has brought to Bangkok's "thriving" foreign owned condo rental business.

Originally Posted by pseudolus

Good on NZ. Well done.

"Zealand's Trade and Economic Development Minister David Parker described the passage of the bill as a "significant milestone".
HA! ~ Really...now? 15 years late (after having (already) been forwarned), and millions of Kiwi citizen-stress dollars "spent",...isn't much of a ^ significant milestone...

Originally Posted by TuskegeeBen

Kindly...STFU. Thank you...

Wassa matta benni, struck a nerve?

Originally Posted by bowie

Wassa matta benni, struck a nerve?

Yep! But, everyone gets their turn at the "oops!",... trough,...eh?