NZ looks to prevent land being sold to rich foreigners? [Archive]

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Bob

20th July 2004, 23:26

KATWYN

21st July 2004, 08:33

Thought I would mention, you post some good links
that make interesting reading. Thanks

Mongoose

21st July 2004, 09:10

All sounds good in theory, but will it work? Others seem to flout the rules in this reguard, or have in the past.

kerryg

21st July 2004, 09:58

Thought you guys might find this interesting:

Link to The Star's article (http://thestaronline.com/news/story.asp?file=/2004/7/20/latest/18088NewZealan&sec=latest)

Sounds like good news to me - stops massive swaves of land being bought up and then public access removed.

That's interesting, this issue gets some people pretty agitated. Seems to me that since foreign buyers can't pick the land up and move it to Texas or somewhere, the issue of who owns it is really pretty minor. The real issues are the proper use of and access to our "iconic" real estate. Hate to think of overseas owners motivated by profit buying historically significant land here (Young Nick's Head?) and turning it into an exclusive club only for rich Americans....but a profit-motivated NZer is as well able to do it. So the important thing is to ensure the public interest, in terms of access and spritual/historic/aesthetic values, is safeguarded. It sounds like this is the intent of the new legislation being discussed. Given that some high country land especially is only marginally economic there's even a scenario I can imagine where well-heeled foreign owners (psuch as Shania Twain and hubby imaginably) could better maintain land which has fallen into neglect. Dealing to rabbits and such like.

So.....roll on the xenophobes among you

Lou Girardin

22nd July 2004, 07:13

Read the fine print. They're tightening up sales of 'iconic' land. And freeing restrictions on other types of real estate.
It's an old pollies trick to kiss you while you're getting screwed.