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7 Comments
They will as are looking after their people interest but can we say the same about our JK.
Now even Canada has imposed tax on foreigners buying property
http://www.stuff.co.nz/business/82489325/canada-tax-targets-foreign-hou…
Yep, now Ray White will advertise our houses in China and Chinese banks will fund them (likely at lower interest rates than NZ) so have a massive advantage with cheaper funding, NZD falling and preferable tax laws why wouldn't you?
In major cities in asia apartments sell for Millions so our house prices by comparison are cheap
Your right, they're looking out for their people, but you would think NZ homes would be affordable for NZ people - but not in this JK led government...
No controls on immigration, foreign capital or rampant lending... causing Auckland to be the 5th least affordable city in the developed world relative to household incomes
Better to deny there's a problem, blame it on others (RBNZ, Councils, Lack of Supply etc) rather than face the fact you created it and actually serve the people IN the country who now cannot afford a home in the city they were born in
Nice one national - 1/10 for trying...
Wow AMAM, that's wonderful news and about time too! So basically Canada have introduced a 15 per cent property transfer tax (Stamp duty) on foreign real estate buyers in Vancouver.
The article also mentions that "The cost of a typical home in the Vancouver area jumped 32 per cent over one year to hit C$917,800 (NZ$992,803) in June".
So if we take in consideration that our Auckland's average house price is not far off at a similar rate of $975,087 NZD, then is isn't it about time that our Government did something to restrict Non-resident Investors?
http://www.interest.co.nz/property/82444/average-value-homes-auckland-l…
The City of Vancouver will now be able to administer a tax on vacant homes. (Go Canada)!!
According to city data, there are some 11,000 homes that have been sitting empty for at least 12 months.
Wow, we have three times the amount of empty homes that Vancouver has and yet our Govenment does sweet fa about it!
Rise of the ghost homes - More than 33,000 Auckland dwellings officially classified empty
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=116…
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