this post was submitted on 25 Sep 2023
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Spike in interest in Kiwi homes from United Arab Emirates (www.stuff.co.nz)
submitted 1 year ago by luthis to c/newzealand
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"Interest in Kiwi homes from the United Arab Emirates has increased sharply ​ in the weeks following National’s proposal to lift the foreign buyers ban on high-end homes"

National was going to allow foreign investment into the housing market??? Yeah, that's really going to help with our crises. I get it's only 'high-end homes' but more buyers inevitably means less supply.

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[–] Ilovethebomb -2 points 1 year ago (1 children)

This is bad news for all the struggling working class kiwis looking to buy a two million dollar property.

[–] Xcf456 2 points 1 year ago

When the people who would have bought $2m properties get blown out of the water by foreign buyers, theyll look to lower priced categories. This is how this will drag house prices up overall.