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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

8 comments fedilink hide all child comments

"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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[–] 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.