Kiwis Lose Out as More Land Goes to Foreigners
KIWIS LOSE OUT AS MORE LAND GOES TO FOREIGNERS
It’s not just Auckland houses being snapped up by foreign money - sales of large tracts of New Zealand land to foreigners continue unabated, says New Zealand First.
“Two stations, a hop farm and additional land for forestry are among the latest approvals by the Overseas Investment Office,” says New Zealand First Leader and MP for Northland Rt Hon Winston Peters.
“We even have an applicant being approved to move to New Zealand from China to build a childcare centre in Silverdale, Auckland. According to the OIO, she has extensive experience in the childcare/education industry.
“Stockerau Station, 1,191 hectares near Whakatane, has been bought by Chinese interests for $8.5m. They will apparently ‘increase productivity and profits’, and a 124-hectare hop farm in Upper Moutere, Nelson, has been sold to an American who promises to increase exports to the US.
“It’s doubtful if any of these sales will bring huge benefits to this country and we will never know. The understaffed OIO has no ability to monitor the conditions of all approvals.
“Too often we see the approvals with ‘gifts’ attached. This time it is Guide Hill Station at Tekapo. The 3,550 hectare station has been sold for $16.5m to a Hong Kong-based company which promises a research facility for Lincoln University and other donations. We hope the OIO will ensure these come to fruition.”