PHOTO: ABIGAIL DOUGHERTY/STUFF International buyers make about 17 per cent of all purchases in central Auckland — but that share was 34 per cent last year.
OPINION: The rivalry between New Zealand and Australia doesn’t end with the Bledisloe and the Americas Cups. The two friendly rivals also battle to attract foreign investment.
The past year has been a good case study in that contention because, some 13 months ago, New Zealand introduced regulations to more strictly limit offshore investment in local property.
Let’s look at what happened to Chinese buying after the new rules came into effect. The impact on other foreign buyers was probably similar.
NOT FINDING WHAT SHE WANTS
Nicole Dai is a buyer out of Shanghai who contacted Juwai.com about investing in an Auckland apartment, even though she had never visited the country. (That’s not her real name.)
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