Foreigners splash cash on city sites

  • Overseas buyers spent $1.01 billion in six months on commercial properties in New Zealand, staking their claim on supermarkets, shopping malls, hotels and office space.

Australians spent and sold the most at $844 million and $595 million respectively in the second half of last year, according to the latest report from international real estate company CBRE.

The overall spend from overseas was lower than the same period in 2014 when $3.15 billion was injected.

READ MORE VIA NZHERALD

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Overseas buyers spent $1.01 billion in six months on commercial properties in New Zealand. Photo / Supplied