22 Apr 2018

Investors call for govt to scrap proposed foreign home-buyer ban

8:59 pm on 22 April 2018

Hundreds of investors are asking MPs to amend or abandon the government's plan to ban non-residents from buying houses in New Zealand.

An aerial view of a Christchurch suburb.

The sale and purchase of severely-damaged properties is going un-recorded on Christchurch City Council property files. Photo: Christchurch Dilemmas

Submissions to Parliament on the Overseas Investment Amendment Bill have been released.

Auckland real estate agent Grant Dickson said overseas investment in social housing projects should be encouraged rather than discouraged.

Johnny Wang, a New Zealand citizen working overseas, said treating him as a foreigner is totally unacceptable as he is sending money back to New Zealand.

The Queenstown District Council's submission opposed the bill but said overseas investors should be required to make a contribution to housing developments in their district.

There was also some support for the bill.

Chengying Jiang said the government should insist houses were used for living and not as investments.

The full submissions can be found online here