Asia New Zealand Foundation welcomes new housing data
Asia New Zealand Foundation welcomes new housing data
The Asia New Zealand Foundation welcomes the release of property data that gives a clearer picture of the extent of overseas investment in New Zealand real estate.
The report from Land Information New Zealand (LINZ) shows that buyers with an overseas tax residency accounted for only 3% of property transfers between January and March 2016 ¬– and only about one-third of those non-resident buyers were in Asia.
Asia New Zealand
Foundation executive director Simon Draper says: “The Asia
New Zealand Foundation knows from its Perceptions of Asia 2015 research that
media coverage last year contributed to an increased number
of New Zealanders believing that buyers from Asia were
responsible for rising house prices. This data suggests that
such fears are not based on fact.
“The Foundation
believes that this data will help New Zealand to have mature
discussions about overseas investment, including from Asia.
The way we talk about these things has implications for the
growing number of New Zealanders of Asian descent, and also
for New Zealand’s broader relationships with other
countries.
“Overseas investment in New Zealand
doesn’t begin and end with housing. New Zealand has a wide
range of overseas investment in the agriculture and food
processing, infrastructure, residential and manufacturing
sectors, among many others.”
The Asia New Zealand
Foundation is a non-partisan, non-profit organisation with a
range of programmes designed to equip New Zealanders with
first-hand experience of Asia and to forge valuable links to
the region. Founded in 1994, the Foundation works in five
main areas - business, arts and culture, education, media
and research. It also runs a Leadership Network and takes a
lead role in track II (informal diplomacy) bilateral and
multilateral dialogues in the Asia-Pacific region. For more
information: www.asianz.org.nz
ends