CHINESE INVESTMENT SET TO BOOM
Thursday June 25th, 2015
The floodgates are set to open for Chinese buyers to pour US$10.9 billion into New Zealand real estate as restrictions on privately held capital are eased, according to a new report.
The report from a leading real estate listings website, with 2.5 million properties and businesses for sale, studied the effects of the Chinese government's second phase of its Qualified Domestic Individual Investor (QDII2) programme to allow its citizens to buy overseas property.
Rich Chinese are drawn to New Zealand.
The pilot program will enable US$11 billion of new Chinese money to flow into New Zealand's real estate market. That's based on wealthy Chinese investing 10 per cent of their assets into international property, including commercial. It's also based on NZ getting about 3.3 per cent of that property-specific investment, as it has in the past," he said.
Source: NZ Herald