27 Jan 2012

Much demand for NZ property by French Polynesians, says agent

6:52 am on 27 January 2012

A New Zealand company supporting overseas investors into the country says there is huge interest from French Polynesians wanting to buy property in New Zealand.

The company Domaines which helps foreigners buy property in New Zealand is holding a real estate fair in Tahiti this weekend to meet potential investors.

Its founder Jean-Michel Hauter says up to 500 French Polynesians invest in New Zealand properties each year.

"Lots of benefits come from the tax system here in New Zealand. As you know people don't pay revenue tax in French Polynesia but otherwise the French are paying lots more taxes than in New Zealand, there is no taxation of profits, there is no stamp duty."

Jean-Michel Hauter says foreign investors also pay fewer expenses when they buy or sell property in New Zealand because there is no capital gains tax.