China is cracking down on its citizens and corporates taking money out of the country and that is having an effect on Auckland's property market.
NBR reporters Sally Lindsay and Chris Hutching talk about the latest in property news in Property Ta
China is cracking down on its citizens and corporates taking money out of the country and that is having an effect on Auckland’s property market.
The crackdown is aimed at keeping the country’s wealth inside the country and stopping leakage overseas, although a record $227 billion flooded out of China in August after the sharemarket meltdown and devaluation of the yuan.
Hong Kong-born CBRE capital markets agent James Lee says the tightening of money leaving China is showing up in Auckland’s auction rooms and deals that were once bread and butter for Chinese investors.
It is also showing in the under $5 million commercial and high-end residential markets where Asian investors are particularly keen on properties with a good income in good locations or development land.
Sally Lindsay looks at what this means for the property market.
In the South Island there is a new service targeting Chinese buyers, who may be interested in tourism properties. It was set up in Hamilton several years ago and has just expanded south.
Chris Hutching looks at how this will work.
The endless TPP debate and the endless handwringing by Labour: Nanaia Mahuta is raising questions about the effect of the recently clinched deal on Maori land claims.
She is challenging the government to send the text of the agreement as it relates to treaty protection to the Maori Affairs select committee for greater scrutiny.
Mr Hutching discusses whether this is a problem or just hot air.
New Plymouth District Council has put its poor performing Van Diemen’s Land Co investment on the market yet again.
The council bought the 25-farm asset in 2008 after it sold its shares in Powerco, but it made a loss two years ago and has only been profitable for the past two years and paid its first dividend in August this year.
The company, based in Tasmania, is the biggest milk producer in Australia. Sally Lindsay looks at what steps the council can make to divest itself of the company.
Seaside camping grounds have been disappearing at a fast rate of knots around New Zealand as coastal land prices soar.
The latest to come to the market is Whangaruru Beachfront Camp near Whangarei.
Chris Hutching has the background to the sale and the camping ground’s chequered history while Sally Lindsay looks at its current setup.
If you are travelling by Air New Zealand this week, remember Koru Lounge wi-fi provides you with FREE access to NBR ONLINE premium content.
