Chinese bidding big at home auctions – NZ Herald News

Article from the NZ Herald today seems to have some interesting perspectives.

Graham Wall this year has sold seven out of 11 $3 million-plus properties to foreigners. Photo / Greg Bowker

Rich Chinese are removing their money and assets from their own country and outbidding Aucklanders on houses, a worried real estate agent says.

Ian Thornhill of Barfoot & Thompson said one wealthy Chinese buyer paid top dollar for a Market Rd, Epsom, house which had since stood empty for weeks as the deal was “just offloading some surplus funds”……

Read the article here