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New Zealand becoming playground for super rich

Posted on 12 Mar at 6 PM Tags: Immigration, Property,

Billionaires around the world are being drawn to New Zealand by pristine coastlines and relaxed lifestyle.

Recent billionaires who have entered include American Peter Thiel and Russian Alexander Abramov.Tony Malkin, whose family own the Empire State Building has also bought a property near to Queenstown, reports the Otago Daily Times.

Little is known about the activities of these secretive billionaires, and Murray Horton, the organiser of the Campaign Against Foreign Control of Aotearoa, believes the billionaires may “slip under the radar”.

Mr Horton said that if they just want to buy a house, even if it’s very fancy, it not an issue for the organisation. He believes this is simply immigration. But he is concerned if it involves rural land. He explained that the people who own the banks, media companies, telecommunications companies, transport companies, insurance companies, is of national significance and affects everyone who lives in the country.

He is concerned that New Zealand is becoming a “branch office economy” that is dominated by transnational corporations. The amount of property owned by Australia's richest person, mining magnate Gina Rinehart, is not known but could include the ferry building in Auckland's heart and the Blacketts building in Queen St.
The NZD exchange rates on 12/03/2012 were as follows: GBP NZD = 1.9091, EUR NZD = 1.6062, USD NZD = 1.2198, AUD NZD = 1.2844, CHF NZD = 1.3323, INR NZD = 0.0244, AED NZD = 0.3324, MXN NZD = 0.0964, CAD NZD = 1.2302, ZAR NZD = 0.1614, RUB NZD = 0.0413, . See today's New Zealand Dollar Exchange Rate
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