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Data dispels NZ land ownership myth

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Data dispels NZ land ownership myth

3News NZ

The Crafar farms account for more than 50 percent of dairying land consented for foreign ownership since 2005

The Crafar farms account for more than 50 percent of dairying land consented for foreign ownership since 2005

New data shows less than 1.5 percent of New Zealand's total rural land area is in foreign hands.

Land information company Terralink says the figures dispel the myth that Kiwis are becoming tenants in their own country.

The data, from the Overseas Investment Office, shows the Crafar farms account for more than 50 percent of dairying land consented for foreign ownership since 2005.

Terralink says proportionally more of the country's industrial and commercial land is being sold to foreigners than any other land category.

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Comments

9/07/2012 12:11:53 a.m.

Mike wrote:

The data is not quite corect.

Take land ownership in NZ, factor in debt on that land to overseas banks, and it is a lot more than 1.5%. $48 billion owed by NZ farmers as just one small chunk of foreign ownership. That debt = form of ownership. If the farmers can't pay as the Crafar farms showed when the farms were sold to recover the debt for the overseas banks.

If you dont want foreign ownership, then you need to tackle the debt issue as debt is a form of ownership as it gives the holders of that debt rights to the asset. Eg Crafar farms sale - Crafar didn't sell it even though it was their farms, it was the banks sold the farms through their control of the debt. Opposition loonies may claim debt is not ownership, but how much did Crafars ownership work to stop the sale? Who controlled the Crafar sale? The banks, who were owed debt! The banks had more rights than Crafar due to that debt.

8/07/2012 8:24:35 p.m.

cyril wrote:

Id say the chinease have there heads screwed on david unlike our leaders.

8/07/2012 5:49:33 p.m.

David wrote:

Id say the issue isn't selling off land to foreigners but selling off land to countrys like china that go out of their way to prevent foreigners solely owning land in China. Its ok for them to buy up large amounts of land in other countrys but hell no its not ok for other countrys to do the same in China. Partnerships deals where one of the business partners has to be chinese doesn't count.