Investors call for govt to scrap proposed foreign home-buyer ban

The sale and purchase of severely-damaged properties is going un-recorded on Christchurch City Council property files. - Photo: Christchurch Dilemmas

Hundreds of investors are asking MPs to amend or abandon the government's plan to ban non-residents from buying houses in New Zealand.

Submissions to Parliament on the Overseas Investment Amendment Bill have been released.

Auckland real estate agent Grant Dickson says overseas investment in social housing projects should be encouraged rather than discouraged.

Johnny Wang, a New Zealand citizen working overseas, says treating him as a foreigner is totally unacceptable as he is sending money back to New Zealand.

The Queenstown District Council's submission opposed the bill but says overseas investors should be required to make a contribution to housing developments in their district.

There was also some support for the bill.

Chengying Jiang says the government should insist houses were used for living and not as investments.

The full submissions can be found online here


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