Thursday 23 November 2017

Chinese buyers head to New Zealand

A survey by the Bank of New Zealand last year for the Real Estate Institute found that 8 percent of residential sales were to overseas buyers. Of those sales, 15 percent went to buyers from China, just behind buyers from the UK.

Chinese buyers head to New Zealand

Auckland, New Zealand

January 27, 2014

As more wealthy Chinese buyers snap-up property in New Zealand, there's a perception in Auckland that Chinese buyers are driving up prices and shutting locals out of the housing market.

One Auckland real estate agent reports that many are cash buyers, and more are coming at this time of the year because of the Chinese New Year holiday.

Some buyers are looking for a home to live in while others would like to buy a property for a relative and some are looking for an investment property.

Houses in New Zealand houses appeal to Chinese investors because they are usually freehold, aren't taxed as highly as those in China and offer better rental returns.

Some families already have children living and studying in Auckland and say they like the weather and people are friendly.

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