Skip to comments.Foreigners face ban on buying homes in New Zealand after apocalypse bolthole fad hikes prices
Posted on 08/10/2018 7:03:31 PM PDT by vannrox
Foreigners are to be banned from buying homes in New Zealand after a spate of millionaires seeking luxury doomsday boltholes has apparently crowded out local buyers and pushed up property prices.
Following purchases by rich expats, including tech billionaire Peter Thiel - PayPal founder and early Facebook investor - and disgraced former NBC host Matt Lauer, who lost his job after allegations of sexual misconduct - the New Zealand government is preparing to crack down on the trend.
New Zealand's allure for the mega-rich planning a safe space to ride out the apocalypse has become almost a cliche in recent years. LinkedIn co-founder Reid Hoffman told The New Yorker last year: "Saying you're buying a house in New Zealand is kind of a wink, wink, say no more."
But the country's centre-left government, led by Prime Minister Jacinda Ardern, is blaming the apocalypse preppers for a major housing crisis in the country, with rates of homelessness among the highest in the developed world.
Ms Arderns Labour party is adamant that a law change banning foreigners from buying most types of homes in the country - due to pass in parliament next week - will help damp down property prices, along with their plans to build 100,000 affordable housing units in a decade, resolve New Zealands zoning and infrastructure woes, and bolster its ailing construction industry.
The bill banning foreign buyers has been reeled in from an earlier, stricter, version, and will now allow foreigners to buy new apartments in large developments and multi-storey blocks. Existing homes remain off limits to non-residents, but people from Australia and Singapore will be exempt from the ban, due to free trade rules.
(Excerpt) Read more at telegraph.co.uk ...
This way they don’t have to blame their socialist policies for increased homelessness!
Geee-—Little Georgie Stephanosnotolpolous sold his house in NYC & was planning on moving to New Zealand.
Wonder how much it will cost him to buy his house back???
Sounds like the real problem is the phrase center-left. Socialists wrecking the housing market looking for someone else to blame.
Seems like a sensible response to ponzi shenanigans.
That’s just the excuse.
They really just want to get close to their master, Sauron, In Mordor.
You suppose hildabeast was down there afew weeks ago to buy a liitle fixer upper? Or access the fiveye top secret access in NZ?
She still has her security clearance? Right?
Singapore has numerous restrictions on foreigners purchasing property. Some 'free' trade rule this is. Just like the ones we suffer thru.
“...Prime Minister Jacinda Ardern, is blaming the apocalypse preppers for a major housing crisis in the country, with rates of homelessness among the highest in the developed world.”
Have they forgotten about claw hammers, saws, and mortar?
Right on the Ring of Fire...
I think a house in suburban New Jersey might be a safer place to weather TEOTWAWKI than a volcanic island in the Pacific with more cows than people.
LOL, didn’t Ruth Ginsberg threaten to move there if Trump won? Some much for the word of a Supreme Ct Justice. I would not put it past the Clinton’s and Obama’s of having a stake there.
New Zealand is so not...diverse. Why would all these rich liberals want to live there?
Apparently, there's also no timber in New Zealand, nor bricks, either.
Hmm, does anyone here know how to make a thatched hut, a hogan, or an adobe dwelling?
Seriously, in the event of TEOTWAWKI, I would rather be surrounded by cows than people.
Lot's of ultra-cheap farm land for sale in South Africa.
But what happened to globalism and open borders being wonderful???
Damned hypocritical socialists.
nationalism and socialism
has that been tried before???
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.