Chinese VIPs eye up $800m of NZ property
Mon, 23 Aug 2010 6:14p.m.
By Melissa Davies
More than $800 million worth of luxury New Zealand homes, farms and commercial property has gone on show for Chinese buyers.
A local branch of Harcourts Real Estate says the pool of high-end buyers in New Zealand is not big enough so it has packed up the showcase and taken it to Chinese VIPs.
Liao Jian Feng makes a living buying and selling property in China but is now looking overseas for good deals.
He likes the look of Pakatoa Island in the Hauraki Gulf, which is on the market for $40 million.
“I see the island and it's very beautiful. I have worked for real estate for a couple of years so I have a good concept of good property to invest in,” he says.
Liao is one of around 1200 Chinese investors who have been invited to see a showcase of New Zealand’s premier property.
They range from luxury homes, such as the $9 million home which has featured on New Zealand’s Next Top Model, to rural sections, commercial property and luxury developments in areas like Pauanui and Queenstown.
The Harcourts branch on Auckland’s North Shore organised the two-week event partly because of the difficulty in finding buyers for high-ticket property in New Zealand.
“We need to be drumming up business, we need to be keeping our economy going,” says Martin Cooper, of Harcourts.
Mr Cooper rubbishes the attitude of those who are against foreign investment.
“Some people they do annoy me a bit because I’m here and no one else is coming,” he says.
“I think we've got to get with it and open our country.”
The latest Chinese rich list shows the country is second in the world for the number of billionaires, with the United States number one.
The people invited today are from a database of millionaires and billionaires who have spoken to immigration companies about investing and living in New Zealand.
Mr Liao says he would only invest - not live - in New Zealand, but Harcourts says many have confirmed they are coming to New Zealand for a closer look at property.
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9/02/2011 11:08:02 a.m.
Yea we need Chinese money like a HOLE in the HEAD, WHY because its worthless!, Why because its backed by US dollars DEBT which are being printed by the trillion! NO I say MAKE them PAY for it in GOLD!.
17/09/2010 6:43:05 p.m.
Yes I agree. We need Chinese money, so let's lease our country to China and let them govern it. That way they can get browny points with the Chinese government for increasing the positive perception of communism as a system of government, while at the same time we can get increased investment in our economy. Win-win all around.
24/08/2010 5:06:28 p.m.
Lets Boycott Harcourts! We don't need them in NZ either!
24/08/2010 9:49:23 a.m.
Will NZ be governed by Foreigners as well? Perhaps the Chinese Govt in the very near future just cause they are so rich... NZ might be renamed as NC (New Chinaland)! Lol... I wonder if the selling pitch is "Buy land/Property in NZ and get NZ citizenship FREE for the whole family!
24/08/2010 12:22:44 a.m.
No to selling our prized assets to foreign owners
23/08/2010 10:02:30 p.m.
watching NZ wrote:
No problem: Let me inform China
23/08/2010 8:38:09 p.m.
How is it we can't buy land in China ?
23/08/2010 8:33:27 p.m.
Dave Head wrote:
They must think we are stupid. NZ is one of the few countries that is selling itself off. But then we stole it from someone in the first place.
23/08/2010 8:21:39 p.m.
Ross Tang wrote:
The foreign base clients you speak of David need to be will informed incase they're being showed stolen merchandise i.e. bloodland that was stolen by the Crown. Beware land soled under a Pakeha government is sketchy and not to be trusted. Being an accessory to the crime isn't a good position to be in; too much to loose.
23/08/2010 7:51:47 p.m.
Get rid of this sell-out government and bring in one that'll readily seize foreign-owned property at will. New Zealand should be for New Zealanders only. Mr Cooper is oblivious to the socio-economic realities of large scale foreign investment and is merely pandering to his foreign-based clients, who care little about the interests of this country.
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