Facts about farm sales

The Sunday Star-Times has the facts on farm sales to foreigners:

Fears that China is gobbling up New Zealand land are misplaced, official figures show.

Americans, Canadians and even Liechtensteinians are buying far more land.

Figures released by the Overseas Investment Office show that of the 872,313 hectares of gross land sold to foreign interests over the past five years, only 223ha were sold to Chinese.

People from the landlocked principality of Liechtenstein had purchased 10 times more land than the Chinese – 2,144ha in the same period.

The top buyers were the United States, Canada, United Kingdom, Australia and Israel. The United States had 194 purchases for a total of 193,208ha.

Even when you add the Westpac farms formerly owned by the Crafars China is still lagging behind the round eyes in land investment in New Zealand.

Where was Labour’s concern as all the land sold in the previous 5 years to non-Chinese? Where was Winston Peters as seppos, canuks, poms, ockers and the evil Juice stole or birthright at market rates?

Oh that’s right…those sales are ok because they look like us.

The thing that galls me is that everyone opposed to these sales thought nothing of the fact that they were privately owned, and were like any other private sale sold to the highest bidder. I suspect that those who cried the loudest had the least.

Labour now has a bizarre policy that sales to foreigners are ok if they live here…and after all the racist outrage over the past month you have to wonder why any rich lister Chinese investor would even bother.

The missing component in all this is the fact that if a Kiwi buyer bought the farms…oh I don’t know…someone like Michael Fay…the purchase would be highly leveraged and the “profits”, such as they are, would flow offshore anyway to the Aussie banks that financed the purchase.

As for the facetious arguments that Chinese buyers of land won’t spend money in new Zealand…well just where are they supposing they are going to vet services from, or fencing supplies, or mechanics for their farm implements, or tankers to pick up the milk, or drivers to drive the tankers?

 


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  • Hakimofphut

    Cameron satisfies the requirements  of the act.
    he relevant overseas person is, or (if that person is not an individual) all the individuals with control of the relevant overseas person are, New Zealand citizens, ordinarily resident in New Zealand, or intending to reside in New Zealand indefinitely: What part of the Penxin deal was about living in NZ

    • AnonWgtn

      Is the Swiss domiciled Michael Fay going to live again in New Zealand ?
      Hope not – lock up your money, (and probably your daughters).

  • Hakimofphut

    Heres another one 250Ha in the Hokianga
    http://www.linz.govt.nz/overseas-investment/decisions/decision-summaries/calum-kerr-mckenzie-felicity-jane-mckenzie

    Its nothing to do with ‘looking like us “.

    The application was approved because they will ‘live here permanently” 

    There are many farms owned by Sikhs, who dont look like us,  but guess what , they wanted to live here permanently.

    But hey when you are an  corporate agribusiness you  should have a better reason than renting the farm out for kiwis to become peasants.

     Which is exactly the  pengxin deal

    • Adolf Fiinkensein

       And the moronic tirade continues.

      What the hell do you think a share milking agreement is, other than a form of ‘renting the farm to peasants?

      • Hakimofphut

        The workers on the farm will not be sharemilkers they will be employees of landcorp. A sharemilker contributes to the business, normally by owning the cows.
        US or Chinese agribusiness is exactly the sort of people we dont want here.

        What do you think is driving up the kiwi dollar,    yes buying up our assets inflates our currency as well.

  • Cadwallader

    Xenophobia is a national embarrassment for NZ. (Proof? How else is Peters back in the House.)

    • Gazzaw

      Absolutely correct. The thick ignorant bastards would reintroduce the polltax if they could.

  • Grant Stantiall

    We have some great customers who are Chinese or Indian landowners that employ many kiwis plus pay us a lot of money to fix their machinery. I’ve got no problem with the sale of land. As the dude from Pengxin said the other day…”the land will always be there”. It’s not going to be moved or taken away. Also a kiwi  farmer from down Temuka way bought a bunch of land back off an American. Land will always trade back and forth so I can’t see the point in getting all excited about this. The opposition are fixated with something that is a non-event.

    • Hakimofphut

      Great , never a problem for those who want to live here.  

      Just buying a farm as an investment while you live in London ..or Shanghai is against the rules.

  • Another blindingly obvious point that the opposers make is that Kiwis can farm better ignoring that the Crafars (kiwis) were the ones who went tits up…

    • Hakimofphut

      If the Chinese can ‘farm better’ why arent they doing it in this case.

      Oh yeah, they want  a SOE  to do all the work for them.

      This is one of Fays points , his consortium of  individual owners will  put money back into the farms as well….. and be  worked and managed  by Kiwis who live here.

  • Michael

    “Tenants in our own land” is a useless slogan.

    Firstly, I bought my own place.  I can’t be described as a tenant. I am a debtor to a bank group that is headquartered in Melbourne, but only for a few more months. (Phew!)  And I am a part owner of that bank (plus a couple others) so I can’t really call it Aussie owned.

    Second, the Crafar farms are not my “own land”. The roads and rivers that run along them are my land (along with everyone elses) and I still have the same rights to them as I did before the sale. If a Government proposes selling the roading network then I’ll start taking it seriously.

    Finally, there will come a time when the kids grow up and the big four bedroom house will not be needed. The only colour that I will consider when selling is the colour of the money. If you don’t want a Chinese to buy, then outbid them with your own money,

  • Patrick Murphy

    Labour now has a bizarre policy that sales to foreigners are ok if they live here
    The Chinese would love that, they could then justify importing & staffing the farms with their own workers. Not having to worry about pesky kiwis wanting time off & working 8 hour days. Typical Labour – policy by opinion poll

    • Steve (North Shore)

      There are many here who could get jobs on the farms. They are too fucking lazy to work because of the WELFARE system.
      The Asians are far better for the NZ Economy than the sit on the arse and claim everything Maori

    • Hakimofphut

      Its not a bizarre policy , its the law  that the OIC follows.
      It has nothing to do  with who works on the farm , its  when the owners  want to live here permanently.  A lot of  farm workers are on  work visas anyway. They could be from Poland or Phillipines or Brazil.
      Patrick   you havent a clue

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