On Yahoo main page:
WELLINGTON, New Zealand - New Zealand's minority Green Party wants to ban land sales to overseas investors, saying the country should be reserved for residents, not foreigners who rarely visit the picturesque South Pacific nation.
"If you want to buy a slice of heaven, you need to make New Zealand your home," Greens co-leader Rod Donald said.
Among foreigners who have bought up chunks of New Zealand is Canadian singer Shania Twain who last year paid more than 21 million New Zealand dollars ($15 million) for a 33-year lease with automatic renewal rights on a landmark piece of alpine ranching country on South Island.
The singer Cher also is rumored to be considering buying property in New Zealand.
"Shania Twain and Cher and other stars may be nice people — but they need to make a commitment to New Zealand instead of treating us like a plaything," Donald told The Associated Press.
Overseas interest in New Zealand property has soared in recent years, in part because the "Lord of the Rings" movies showcased the country's spectacular landscape and party because the South Pacific nation is considered a safe haven from terrorists.
Donald, whose party may end up in a ruling coalition with New Zealand's Labour Party following elections next month, said the policy was aimed at tightening the rules on foreign investment and halting land sales to "foreign investors who hardly ever set foot on our soil."
In a statement releasing the party's foreign investment policy, he said while foreigners would be excluded from buying land and houses, those choosing to live in New Zealand would be able to buy property.
He said the Greens also want to tighten the rules on foreign investment in buildings, businesses and aquaculture operations.
There is growing public concern in New Zealand that foreign landowners are buying up some of the nation's most prized real estate and at the same time reducing access to beaches and mountain regions.
"The Green Party welcomes ... foreign investments that create jobs and bring new technology to New Zealand," Donald said. "What we don't want is asset strippers who buy up iconic businesses and bleed them dry."
Last year the Labour-led government tightened controls on sensitive land sales to overseas buyers.
Under the new rules, foreign buyers must get approval of their plans to manage any historic, heritage, conservation, or public access factors affecting any land, as well as proposals for its economic development.
http://news.yahoo.com/s/ap/20050819...gn_investor_ban
I seriously doubt Cher would either. Cher is half Native-American and I'm pretty sure she understands committments. I have no idea what other famous people are after, but I think they should take heed in what NZ is trying to accomplish with new residents, either part-time or permanent.
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