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Chinese not among top buyers of NZ land

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Sun, 05 Feb 2012 8:37a.m.

The top buyers are the United States, Canada, United Kingdom, Australia and Israel

The top buyers are the United States, Canada, United Kingdom, Australia and Israel

Official figures show that Americans, Canadians and Brits are the top buyers of New Zealand land.

Figures released by the Overseas Investment Office (OIO) show that over the past five years, only 223ha of land were sold to Chinese buyers.

A total of 872,313ha of New Zealand land were sold to foreign interests over that period.

The top buyers were the United States, Canada, United Kingdom, Australia and Israel.

There were 194 purchases made by buyers from the US, totalling 193,208ha, Fairfax New Zealand reported.

The figures do not show if there are any New Zealand ownership shares involved.

The sale of land to foreign investors has come under scrutiny, with the recent approval of the purchase of the Crafar dairy farms by a Chinese group.

The 16 farms have a combined area of about 7900ha.

The Crafar Farms Purchase Group, led by Kiwi businessman Sir Michael Fay, is challenging the sale in the Wellington High Court.

NZN

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Comments

07 Feb 2012 09:50a.m.

Jian Zhang wrote:

I feel there is only 2 types of ownership: state owned or privately owned. So what's the fuss about Chinese or American or Kiwi. If it is privately owned, the benefit for the country is rates. It is unfair for the current owner not be able to sell to someone who wants to pay a higher price. We may introduce a foreign land investment tax to take advantage of the situation, but discrimination against Chinese purchaser is not a good approach. Yes, Kiwi can not buy land in China, but neither Chinese individuals can have private ownership of land in China, all land holdings are leasehold only. So there is no discrimination against Kiwi in China.

05 Feb 2012 03:40p.m.

D thorburn wrote:

The chinese only want our land so they can sell dairy to themselves at cost price, meanwhile pushing our export prices down and our local prices up. we will never get that land back once its gone, fertile land is woth more than any other resource we cant live without it!!

05 Feb 2012 02:05p.m.

anne wrote:

China's wave of buy-ups is only just starting.
Penxgin is totaly funded by the chinese govt,therefore
chinese govt owned business.
The US,Australia,NZ are colaborating to patrol the south
pacific because of the Chinese interest in this area and
key wants to hand them a large slice of valuable nz land,
what is he thinking,nze'rs have a right to protest.

Key is trying to sell NZ off from under us to those
who have the cash,he has no ethics at all,this money trader needs to be stopped.
Good on the maori council taking the govt to the tribunal.
NZ is for maori and nz'ers not for overseas interests to
control,just what will future generations think of our
generation if we just sit back and say,thats ok,sell us off to the highest bidder and to your mates,we dont care.

05 Feb 2012 01:58p.m.

Fellowes wrote:

The point is, however, that foreign buyers, Chinese or otherwise, put up the price of land so that New Zealanders can no longer to buy land in their own country. Europeans have been buying through Lichenstein - has this been investigated? There is no transparency as overseas corporations buy NZ land. Where are the intelligent investigative journalists pursuing this matter? I join my voice to others calling for an urgent referendum so that New Zealanders themselves can choose whether their land should be sold off. The Pacific Islanders lease their land but do not sell it. Why don't we do the same?

05 Feb 2012 12:57p.m.

Mike wrote:

Difference between all these countrys and China is you can buy their land and business's easily, in China as a outsider its a intental huge hurdle to do the same things. Such irony. Its ok for them but not ok any other country to refuse.

05 Feb 2012 11:54a.m.

aaron wrote:

Just shows how negative most kiwis are. When some white person buys Nz land its ok, Ok for Kim Dotcom to stay here too, what if he was Chinese? Why are we so against the Chinese, hello if it weren't for their goods we would be struggling big time, the nz grown veges at Chinese supermarkets are cheaper than Nz owned and operated supermarkets!