The National Party policy of allowing NZ homes worth more than $2 million to be sold to overseas buyers, to try to pay for tax cuts for the wealthy, will destroy small beach towns like Ohope, Gisborne, Waihi, Papamoa and Whangamata.
Economists from the right and left have all said it won’t raise the amount National has said it will, and that it will drive up prices for New Zealanders.
The Kiwi dream of living at the beach will be extinguished as overseas buyers scoop up homes, holiday homes and motor camps only to leave them empty. You do not even need to be applying for citizenship.
New Zealand will become a country of ghost beach towns. The only winners in this will be real estate agents . . . another reason the property industry has given so much in donations to National and Act.
M. Hall
