Latest / Best of Business / Anthony Morsinkhof: luxury real estate agent on the Government relaxing the foreign buyer ban

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Anthony Morsinkhof: luxury real estate agent on the Government relaxing the foreign buyer ban · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks be follow
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  Speaker 2: So from tomorrow, Active and Vesta Plus visa holders will
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  Speaker 2: be able to build or buy home's worth at least
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  Speaker 2: five million dollars in New Zealand. Anthony morson Coff is
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  Speaker 2: with Forbes a Global real Estate and joins us on
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  Speaker 2: the line. Now, Anthony, very good afternoon to you.
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  Speaker 3: Good afterening to you.
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  Speaker 2: How are you very good?
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  Speaker 4: What do you think about this five million dollar threshold?
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  Speaker 4: Do you think that's about right? Should be less, should
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  Speaker 4: be more?
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  Speaker 3: I think it could be a bit less. The reason
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  Speaker 3: for that is that we'd like to see the money
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  Speaker 3: spreads around New Zealand's that's coming into the country, and
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  Speaker 3: there's very significant amountcoming and I think places like the
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  Speaker 3: Hawks Bay or Northland, or the wire Rapper or christ
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  Speaker 3: Church the flow is not going there at the moment.
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  Speaker 3: The flow is going mainly to Queenstown and you're seeing
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  Speaker 3: a lot of money going there and that's the main
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  Speaker 3: interest for the investors set in. The second place would
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  Speaker 3: be Auckland, and be nice if the rest of the
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  Speaker 3: country could be involved with that as well.
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  Speaker 1: So we.
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  Speaker 4: Would you prefer if it was regionally marked. So Auckland
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  Speaker 4: stays at a high rate, Queenstown around the estays at
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  Speaker 4: a high rate. But Northland, as you say, is like
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  Speaker 4: three million or something, so it's regionally adjusted.
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  Speaker 3: I totally agree with it. It's like in Northland they
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  Speaker 3: could use, you know, an area where that could use
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  Speaker 3: a lot of employment which this wealth would bring. And
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  Speaker 3: that if they can't live there because they kind of
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  Speaker 3: buy a house at five million and there's only very
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  Speaker 3: limited stock in Northland at that price range, well they're
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  Speaker 3: going to go to queensownd right in Northland is just
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  Speaker 3: as beautiful as well Queenstown, it's only a lot more affordable.
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  Speaker 3: So getting that wealth to go into different areas and
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  Speaker 3: New zeal And would benefit every New Zealander.
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  Speaker 4: What about though within Auckland, say you take Auckland, you've
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  Speaker 4: got areas like Remuerra or understand there's one thousand plus
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  Speaker 4: properties that are worth over five million dollars. But West
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  Speaker 4: Aalkland's very different. South Auckland's very different. Would would you
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  Speaker 4: zero in that much that you suburb No.
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  Speaker 3: I think there's enough choice in Auckland and the Maine suburbs,
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  Speaker 3: and I think that their sort of wealth will be
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  Speaker 3: looking at the main suburbs. Anyway, it will be very
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  Speaker 3: I think technically very difficult to sort of say if
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  Speaker 3: you're in this part of Auckland or in that part
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  Speaker 3: of Auckland, and why that makes it hard. I think
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  Speaker 3: it should be kept simple. People know, you want to
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  Speaker 3: go to Auckland's five million, if you go into Northland
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  Speaker 3: it's three million or something like that. I think would
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  Speaker 3: make it make it really really attractive for those regions.
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  Speaker 2: The government Anthony predicts around one hundred and one hundred
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  Speaker 2: and fifty will take up this this Golden visa in
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  Speaker 2: the first year. Do you think those numbers are about right?
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  Speaker 3: Yep. Response I'm getting and I'm talking to straight to
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  Speaker 3: offices in Hamburg and Germany, Amsterdam and Switzerland, in Geneva
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  Speaker 3: and those are our offices Monaco, those places. I'm getting
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  Speaker 3: direct feedback. I'm dealing with family offices over there, and
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  Speaker 3: the bolt texts coming into Holland where investors are in.
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  Speaker 3: Those in that country are looking to move out as
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  Speaker 3: fast as they can. Germany, similar things are happening. They
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  Speaker 3: are absolutely for security reasons as well, looking to move out,
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  Speaker 3: So there's a big exodus in those countries, not only
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  Speaker 3: to New Zealand but also to other safe habits. But
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  Speaker 3: New Zealand is pretty much in the picture there, so
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  Speaker 3: I'm pretty confident that we can get those numbers and
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  Speaker 3: even higher into New Zealand and dealing personally with a
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  Speaker 3: large amount of wealth coming out of those countries also
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  Speaker 3: out of the United States.
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  Speaker 4: Are they looking at bolt holes buying a property in
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  Speaker 4: Queenstown if the worst happens, get on a jet and
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  Speaker 4: get over here, or are they looking to move families
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  Speaker 4: here and start a life here. Anthony, In your.
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  Speaker 3: Experience, I think it's more about moving a life here.
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  Speaker 3: It's about being involved in New Zealand society. There was
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  Speaker 3: what's happening in Europe. They've got big immigration problems, they've
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  Speaker 3: got big security problems, and they've got tax problems over there.
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  Speaker 3: In New Zealand looks like paradise to them, and that's
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  Speaker 3: the reason why they want to come here, and I
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  Speaker 3: think we can all benefit from that. Yeah.
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  Speaker 2: Really interesting, Anthony, Thank you very much for your time,
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  Speaker 2: appreciate your insights and we'll catch up again soon. That
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  Speaker 2: is Anthony Morrison Gough with Forbes Global real Estate.
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