No foreign person or entity should be able to buy NZ land

No foreign person or entity should be able to buy NZ land

I want to see NZ protected so only New Zealand citizens can purchase land. Trusts & other entities that want to purchase could only be controlled by New Zealanders. Thought would have to be given to stop extremely long leases etc that would in effect be similar to a sale. Any person living in NZ that wasn't a citizen always has the option of renting or becoming a citizen. This would likely help the housing problem by reducing demand thereby reducing prices. Two birds one stone. 

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    • Ant Brown
      commented 2016-12-20 09:55:51 +1300
      Well said. Unlikely to be taken on by any government but seems a logical choice of policy.
      NZ is a haven for the global elite. Young home buyers are competing against this minority group.
      Despite NZ being in the midst of a historic building boom, house prices aren’t coming back.
      Investment opportunities for wealthy NZ & overseas buyers, if the current system continues unchecked, is unlikely to change. That won’t help NZers into a home.
      The current immigration policies & investment incentives don’t provide a fair or free market.
    • Ant Brown
      tagged this with essential 2016-12-20 09:55:51 +1300
    • Tim O’Donnell
      commented 2016-12-01 11:02:30 +1300
      I’m not sure I would be keen on forcing the sale which would kick up more of a stick than we would like but since there would be a limited time frame (i.e. The death of the owner or a change in the company directors &/or trustees) before they would have to sell we shouldn’t need too. Graeme, you disliked this because you assumed is was put forward as a solution to the housing crisis which it isn’t? Have you changed your view given it’s purpose? There are plenty of other things to invest in NZ. Most companies rent their buildings anyway, it’s just the money from that rent would now stay within NZ
    • Robert Murray
      commented 2016-12-01 09:06:40 +1300
      Graham, We’re not proposing nationalisation – just restricting the class of owners and advising others that if they still retain ownership it will be taken off them. They have the choice to sell. I believe that Thailand and China limit foreign ownership and think the principle of reciprocity (tit for tat) should apply
    • Graeme Kiyoto-Ward
      commented 2016-12-01 00:41:22 +1300
      Nationalisation of private property is very destructive to our reputation as a place to invest. It affects ALL investment.
    • Robert Murray
      commented 2016-11-30 23:52:26 +1300
      Agreed – but if we suggested a date after which all foreign land would be forfeit to the Crown that might encourage a massive sell off especially of homes and commercial properties.
    • Robert Murray
      tagged this with essential 2016-11-30 23:52:26 +1300
    • Tim O’Donnell
      tagged this with essential 2016-11-29 21:25:55 +1300
    • John Alan Draper
      tagged this with important 2016-11-29 11:59:07 +1300
    • Nathan Rattray
      tagged this with important 2016-11-29 11:58:51 +1300
    • Tim O’Donnell
      commented 2016-11-28 14:18:01 +1300
      Graeme, sorry missed the last part of your question. This would only kick in once ownership changed through sale, death, change of trust/trustee/company or other such event. They wouldn’t be forced to sell, but when they do sell etc it would have to be to NZ an NZ citizen
    • Tim O’Donnell
      commented 2016-11-28 14:12:07 +1300
      Hi Graeme, this is not being put forward as a solution to the housing problem. It’s just an added benifit that it is likely to ease one of the pressures of the crisis. First & foremost it’s about keeping NZ land in NZ ownership
    • Jerry Cerveny
      tagged this with essential 2016-11-28 11:28:18 +1300
    • Graeme Kiyoto-Ward
      commented 2016-11-28 07:33:52 +1300
      Housing is shaping up to be a major policy area and party needs to have in order. My concern with this is it seems to assume our housing crisis is solely because of foreign ownership. If this doesn’t change anything then what. My personal preference is around incentives (or disincentives) rather than prohibition. Under this policy what happens to all the land current in foreign hands?
    • Graeme Kiyoto-Ward
      tagged this with dislike 2016-11-28 07:33:52 +1300
    • Tim O’Donnell
      published this page in Suggestions 2016-11-27 21:49:59 +1300