Asian Buyers And Xenophobia

To me xenophobia is abhorrent, whether here or anywhere. People are just people and should be judged on their behaviour and nothing else.

The constant drum beat about Asians in general and Chinese in particular buying property in NZ and “out pricing” the rest is xenophobia at its worst

Picking on minorities is the favourite past time in many quarters in order to create “enemies” on which blame can be heaped for real or imagined problems.

A recent article by Tony Alexander of the BNZ proved that Asians are a minority group of buyers in the market (see my previous blog) but it hasn’t stopped the scare mongering.

The article below is a not-so-subtle attempt at putting an anti-foreigner flavour to what is, in reality, a good news story instead.

Overseas tax bite sees more Asians eye NZ property
Anne Gibson
Saturday Mar 30, 2013

Hong Kong’s investment tax restructuring, and the hike in Singapore’s stamp duty on housing purchases, have attracted more Asian buyers to NZ homes. Photo / NZ Herald
Increasing numbers of Asian house buyers are looking at New Zealand property after new taxes cooled buoyant Hong Kong and Singapore markets.

David Bayley, Bayleys Real Estate director, said his firm had six Asian group bookings for Auckland visits.

“We first began seeing the impact of Hong Kong’s new property investment tax restructuring in mid-December when we fielded a 12.2 per cent spike in the number of inquiry calls from the region, and the number of website hits emanating from the area jumped 17.3 per cent,” he said.

As a result Asian buyer numbers were rising. “Our apartment group for example is now regularly hosting families coming down to Auckland from Southeast Asia with the sole intention of buying CBD units for their children to live in while they attend university here,” Mr Bayley said.

Others have questioned the wisdom of New Zealand not discouraging house sales to foreigners, saying residents were being out priced.

Read the rest here:

Posted in News & Articles | 1 Reply

One thought on “Asian Buyers And Xenophobia

  1. I think it stinks when you see a rich Asian riding around In their flash cars and buying our homes at any price-good on ya John Key-you definitely stick up for kiwis

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