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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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

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