Do you really care what country your landlord is from?

The xenophobia surrounding investment in New Zealand is somehow only focused on the Chinese.

The chief executive of an international property company says China’s interest in New Zealand houses is only just beginning.

Chinese-based company Juwai expects 15 to 20 percent growth in investment here over the next two years. But it says it will be good for the New Zealand economy and won’t hurt first-home buyers.

“The Chinese have only just started to look at the world as an emerging opportunity, and we’re starting to see investment by Chinese into international markets,” says Juwai co-chief executive Simon Henry. “It’s not just money from China; it’s also money from Chinese communities around the world.”

Mr Henry from told The Nation foreign ownership will increase, but the Chinese won’t be competing with first-home buyers.

“Typically, the average spend of a Chinese investor is about NZ$1.4 million, so roughly about double what a first-home buyer or a domestic buyer would purchase.”

According to Juwai, New Zealand is the seventh most popular country for Chinese buyers.

One the whole, the Chinese come here and buy farms, forests and commercial properties.

New Zealand First Party leader Winston Peters says New Zealand buyers are being squeezed out of the market. But he doesn’t blame the Chinese for investing when it’s to their advantage.

“You’ve got to blame rather naive, stupid politicians who think that foreign investment is all good, when often it’s just a complete takeover,” says Mr Peters.

Oh look, it’s not the run-up to the election, so Winston is now toning down his yellow-peril rhetoric.   Instead, be blames himself.

Australia is considering introducing a registry for foreign buyers following an inquiry, but Mr Henry says the inquiry also showed the advantages to foreign investment.

“It helps create jobs and also it helps create supply. Secondly, it also adds a lot of supply to the domestic marketplace, which would otherwise not be added. And third, they found that it actually keeps prices low, because without the foreign investment, there wouldn’t be new supply.”

Former National MP Tau Henare says the real issue is being avoided.

“It is racism,” he says. “People don’t want Chinese to buy their houses; that’s what they’re saying.”

It is naked racism.   Similar purchases by Australians, Germans, Americans or Brits simply don’t even register on the political radar.   Some how Chinese are different.   Which is rather dense, if you think of it.  They are going to remain our largest trading partner for the foreseeable future.

 

– 3 News

 


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  • Nige.

    Reality is that most renters do so through an agencey and wouldn’t have a clue who the landlord is. Let alone race. That’s they kiwi way ay. Chances however are that if you ARE dealing direct to your land lord your more likely to be paying less per week ….more likely to have repairs done quick smart too.

    So…..If you know your landlord is Asian your probably better off than through an agency!

  • Thank you for saying it like this, i’ve been saying this everytime Peters does his garbage at each election. What does it mater where people come from, or where they live. I only ask they they follow our laws.

  • Reaper

    I have found in general that every race/nationality has its good and bad. And that if, as a tenant, you pay your rent on time and look after the house and garden that landlords are so appreciative that they look after you.

    The worst landlady I have ever had was actually a NZ European, known locally (in Coromandel) to be a bit nuts. Accused me of stealing and selling her cat! Lol.

  • Michael

    The answer is to stop having policies that artificially drive up the cost of Auckland housing. Opening up land supply and improving roads (especially a second harbour crossing so areas north of Albany would be attractive to live) would mean that foreign investors won’t get huge capital gains they are looking for.

    • Raibert

      Right, but how many $1.4 million houses can the market stand? If they are investors / speculators shouldn’t they be buying at a price that can be easily sold on?

    • Hakaru

      There is a second harbour crossing through Greenhithe to Albany. When the tunnels are finished then those from the North will have two ways to get to the south of Auckland, thereby relieving a lot of pressure on the Harbour Bridge. This will also open up the Kumeu and Helensville areas for development if the council allows it. Let’s just wait to see how this addition to the roading network eliminates a lot of the congestion we have now.

  • Aucky

    Unfortunately Winston is preaching to a very receptive congregation. The national psyche hasn’t basically changed since the days of the poll tax. I’m surprised that WFP hasn’t already suggested that a poll tax would be an effective way of controlling house prices. If he did it certainly wouldn’t fall on deaf ears.

  • Bruno 32

    I despise Winston Peters for his blatant racism towards Chinese. He is almost as bad as Harawira,who is starting to make a few noises from the pigsty. Both of their troughs are getting low.

  • independant

    my landlord is Chinese, best landlord Ive ever had, super nice guy, isnt in the country 9 months of the year, never asks to inspect the property just comes once a year to trim trees and wash the house, cheap rent, leaves me alone, hes also offered to sell it to me one day when I am ready. Wheres the problem? :)

  • Kiwibabe

    The real issue is that particularly in Auckland we have a serious shortage of houses because house construction has been insufficient for decades (due to council restrictions, high charges and impostions on those “rich prick” developers, most of who have inconveniently gone bust).
    So, the point is that our house shortage is so great that any overseas buying can only aggravate the supply shortage. Arguments that someone has to own rental accommodation are missing the point. Because we allow more buyers into the market prices can only increase more than otherwise.
    NZ First.

    • OneTrack

      Isn’t the real answer to resolve the underlying problem – council restrictions – first?

  • Albert Lane

    When I lived in Singapore some years ago, I was reliably told by a Chinese friend that Chinese families in Singapore have regular meetings where each family member puts their surplus money onto the table. This is regarded as family money. And when there is enough money, the family buys property. This type of event would be unknown in communities such as ours, where we go by the adage, “What’s mine is my own”. If this practice is common amongst the world-wide Chinese community, I take my hat off to them. And if it works for them, why shouldn’t it work for us? And why should we complain?

  • The Accountant

    My problem with Chinese purchases stems from the fact we can’t buy property in their country. The other nationalities mentioned don’t have these restrictions. My concern isn’t a racism one, it’s an equality one.

    • Bryan

      the other real issue is they are buying in other countries because they are not allowed to own other that the house they live in in China. China needs to allow it’s own people to invest in their own country, you can see on google earth a whole city built in northern china that has no people living in it because of the policy of not allowing ownership other than your own living space.
      So this then leads us back to ask the question? is it a deliberate policy of china to use their people’s money to buy their way into other countries land and assets and as one chinese person stressed to me ” it is only party members who are allowed to move out of the country and take money for investment”
      look at Canada recently stopped 27000 applications from older chinese to emigrate to their country to live with their children who they had sent there to get education, and then use that as a means to get into other countries.
      I believe aust Nz Usa and canada and britian need to put pressure on china to allow investment in their own country for their own people where no ones owns land only the building. and that is the real issue that needs to be addressed.

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