Wellington (AFP) - Overseas buyers will no longer be allowed to purchase existing homes in New Zealand, Prime Minister-elect Jacinda Ardern said Tuesday, as she unveiled a raft of policy deals made with her coalition partners.
The move to tackle soaring property prices was agreed during lengthy negotiations between the Labour Party leader and populist powerbroker Winston Peters to form a new government that also includes the Green Party.
Ardern announced plans to slash immigration and focus on regional development and job creation.
Mostly I think they're concerned with annoying tech billionaires taking over their island. Regardless, open borders for all. Send out the bat signal to Antifa now.
MNZGA!
Mao wrote:Political power grows out of the barrel of a gun. Our principle is that the Party commands the gun, and the gun must never be allowed to command the Party
Wellington (AFP) - Overseas buyers will no longer be allowed to purchase existing homes in New Zealand, Prime Minister-elect Jacinda Ardern said Tuesday, as she unveiled a raft of policy deals made with her coalition partners.
The move to tackle soaring property prices was agreed during lengthy negotiations between the Labour Party leader and populist powerbroker Winston Peters to form a new government that also includes the Green Party.
Ardern announced plans to slash immigration and focus on regional development and job creation.
Mostly I think they're concerned with annoying tech billionaires taking over their island. Regardless, open borders for all. Send out the bat signal to Antifa now.
MNZGA!
Just got in under the deadline. Bought an outhouse for $100K in Timaru.
THIS IS A COMPLETELY BULLSHIT THREAD AND DOKTOR DOWN LOW WHO STARTED IT NEEDS TO HAVE A KNITTING NEEDLE SHOVED DOWN HIS PEE HOLE. BUT I KNOW ONE CHICK FROM NEW ZEELAND AND SHE'S A SEXY LITTLE MINX. START THE HATE!! THIS IS IGX FUCKERS.
Shapecharge wrote: ↑Wed Oct 25, 2017 1:25 pm
DOKTOR DOWN LOW WHO STARTED IT NEEDS TO HAVE A KNITTING NEEDLE SHOVED DOWN HIS PEE HOLE.
we've never met and you almost know what i like - crochet hook!
Mao wrote:Political power grows out of the barrel of a gun. Our principle is that the Party commands the gun, and the gun must never be allowed to command the Party
Chinese investors are fucking the housing prices for locals in both NZ and Australia. New Zealand is doing the right thing.
We never had the bubble burst like it did in the U.S. Our prices were going crazy pre 2007 and the bubble has continued.
It's fueled by stupid tax laws and overseas investment in domestic housing that need to be worked over, but our politicians are the greediest and most spineless bunch of self serving short sighted dumbfucks ever born. They have no idea how to build a country (or anything worthwhile), so they do what every other fuck does who can't actually do anything, has no imagination and is too much of a pussy to take conscious risk but wants to pretend to be a moneymaking genius...
Invest in Real estate.
What lies behind us and what lies before us are tiny matters compared to what lies within us.
Ralph Waldo Emerson
terra wrote: ↑Wed Nov 08, 2017 11:27 pm
Chinese investors are fucking the housing prices for locals in both NZ and Australia. New Zealand is doing the right thing.
We never had the bubble burst like it did in the U.S. Our prices were going crazy pre 2007 and the bubble has continued.
It's fueled by stupid tax laws and overseas investment in domestic housing that need to be worked over, but our politicians are the greediest and most spineless bunch of self serving short sighted dumbfucks ever born. They have no idea how to build a country (or anything worthwhile), so they do what every other fuck does who can't actually do anything, has no imagination and is too much of a pussy to take conscious risk but wants to pretend to be a moneymaking genius...
Chinese investment in Australia rose from $6.2 billion (in 2007) to $87.2 billion (in 2016), CBM stated in its report.
That is a fourteen-fold increase in 10 years.
Although this is a rapid increase, the amount of Chinese investment is rather low, compared to the total amount invested by the United States.America's total investment in Australia was at an already-high $433 billion in 2006.
In the last 10 years, the US investment doubled to $861 billion, which is certainly slower than China's fourteen-fold boom in the same period.
But when comparing the total value of investments in 2016, the US figure is 10 times higher than China's ($87.2 billion).
"While the growth in Chinese investment has been significant, it pales in comparison to investment flows from other countries," said CBM's managing director CT Johnson.
After the US, the next biggest Australian investors were the UK, Belgium, Hong Kong and Singapore, then China.
Anecdotally, estate agents I know say vast majority of property buyers are not Asians. They all want to come across crazy rich Chinese who buy apartments in bulk. No luck so far. Australia also came up with house ownership restrictions earlier this year. AT the same time the local banking authority tightened lending requirements for the locals. Go figure. In any case, not much of an effect so far.
