3 ms·
Why? It already cost foreigners NZD$30,000 in extra foreign buyer approval fees (no guarantee) which was a cash cow. This will kill that cash cow. The best thin
by contingencies 9y ago
Why? It already cost foreigners NZD$30,000 in extra foreign buyer approval fees (no guarantee) which was a cash cow. This will kill that cash cow. The best thing about NZ has been immigration. This is just going to funnel money to large construction companies building apartments, and turn NZ in to an apartment farm.
- FooHentai 9y agoThat's not correct. >New Zealand’s overseas investment legislation only affects transactions that include sensitive New Zealand assets, including land that is considered sensitive. https://www.linz.govt.nz/regulatory/overseas-investment/find-out-if-you-need-consent-invest-new-zealand/answers-about-overseas-investment https://www.linz.govt.nz/regulatory/overseas-investment/find...
- contingencies 9y agoSensitive includes half the country, eg. anything naturalesque with "covenants", government proximity, foreshores, historical sites, etc. Source: Real estate expedition to NZ, 2015.
- FooHentai 9y agoDoesn't particularly include urban residential.
- FooHentai 9y agoUpdate: It's about to mean a lot more: https://www.stuff.co.nz/national/politics/98417459/labour-will-make-all-existing-homes-sensitive-effectively-banning-foreign-buyers https://www.stuff.co.nz/national/politics/98417459/labour-wi...