Kiwi Properties Snapped Up
More New Zealand Properties are being sold to people who live in China, according to real estate agents.
Tony Alexander, BNZ chief economist, said the latest BNZ-REINZ Residential Market Survey showed a quarter of all houses or apartments sold to foreigners were going to the Chinese.
“Whereas last year in March, 15 per cent of dwelling sales to people offshore were to people in China and in May 20 per cent, this March, the proportion is 25 per cent. So a rising proportion of sales going offshore are to people in China of which about 41 per cent are considered as likely to shift to New Zealand,” Alexander said. Agents said of all the sales they handle, 6.4 per cent are to people who live overseas.
He has previously advocated that New Zealand should adopt Australia’s more restrictive approach to foreigners buying houses.
via: Chinese snap up more Kiwi properties – Property – NZ Herald News.
What Will You Do?
Will you sit at home and wonder why the Chinese are buying our properties or get out there and find out why.
Don’t just stop there though, get out and buy something, there are lots of opportunities out there so go for it.