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Speaker 1: You're listening to a podcast from News Talks be follow

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Speaker 1: this and our wide range of podcasts now on iHeartRadio.

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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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