I'm firmly against wholesale land sales to offshore entities so I'll take up your challenge Peter.
1. Does this only apply to chinese, or will we deny buying to all shades and nationalities?
All of the minor parties in this election are opposed to massive land sales, to all nationalities.
And will previous sales be cancelled?
The only sale under threat of cancellation is Lochinver Station as that is still in process and will require two ministers to sign off on it. It's looking like the Nats will win this election, in which case they'll likely sign off soon after and continue to flog assets and large tracts of productive land to the highest bidder. If the Nats lose, then that sale will not proceed.
2. Should New Zealanders be prevented from buying land in other countries?
I hate to tell you this Peter... we already are. Kiwis can't buy land in China (for example) or most of the Asian countries. While you can buy land in Sri Lanka, their 100% tax on land transfers to foreigners
will put off most sellers. There's a land grab happening in the UK with reports that foreigners were behind 85% of prime London property sales last year
. Centre-right thinktank Civitas
, normally a strong supporter of the tory government says Britain should ban foreigners from buying homes.
The reason China is mentioned so often is that they're the predominent foreign buyer worldwide. "Chinese buyers don't want your house, they want the land"
says Andrew Taylor, co-founder of juwai.com - a property website visited by 1.5 million Chinese investors each month. He estimates that Chinese investors spent $38 billion to $50 billion
buying houses overseas last year. That pushes up prices and cuts out local buyers. For that reason there are growing restrictions all over the world on foreigners buying land, particularly large blocks of productive land. Here are a few more examples...
Foreigners prohibited from buying existing housing stock
Alberta - maximum 20 acres
Manitoba - maximum 40 acres
Saskatchewan - maximum 10 acres
Quebec - no sales allowed
3. How do the Chinese (or any other nationalities) remove the land from NZ?
That's a straw man argument, worthy only of those who cry "xenophobia".
I support foreign investment
which helps our country to grow - but selling off the family silver is short-term thinking. As NZ continues it's dive towards third world status, maybe we can take a leaf out of the Cook Islands' book. Foreigners cannot buy any land in Rarotonga. You can lease land for up to 99 years, but it will always remain in Cook Islands hands. I like that approach and believe NZ needs to head in that direction.