Sunday, August 24, 2008

Greens want only NZ citizens to own land

The Government should stop the buying of land by foreigners, Green Party co-leader Russel Norman said today.

Earlier, The Herald on Sunday said international buyers were "snatching up" New Zealand properties as the dollar dropped, interest rates came down and the market fell.

"We believe land should be owned by New Zealand citizens and residents only, and our laws should be changed to say that," Dr Norman said.

"Why should we allow Singaporean, Australian or American speculators to buy investment properties in our country, shutting first-time home buyers from the market.

"The Government has a responsibility first and foremost to ensure New Zealand citizens and residents can afford to buy a stake in their own country."

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