The Big Read: Why all the fuss about foreign ownership?

  • Foreigners owning New Zealand land has been a hot topic all year.

If it’s not the fear of Chinese owning half of Auckland it’s anxiety that all the best farmland is being bought up by overseas interests to siphon money out of the country or hide their dodgy cash.

But McDonalds Real Estate executive director Peter McDonald doesn’t think foreign ownership is a big deal in Taranaki.

“Taranaki doesn’t have an out of kilter interest from overseas buyers,” he says.

“Taranaki land is really good basic land and most overseas investors want large scale investments. Taranaki doesn’t provide that. We only have small properties.”

READ MORE:
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David Cunliffe alleges second toxic incident as Terence Stapleton QC begins OIO review
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Station sold to foreigner
Ruckus over Taranaki farm sell-off
Farm sales to overseas owner still rankles with locals

Fuss

ANDY JACKSON/Fairfax NZ
In the past 10 years more than 36,700ha of Taranaki farmland has been sold to overseas investors.

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