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Speaker 1: Now, a luxury real estate agent is calling on the

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Speaker 1: Prime Minister to lift the ban on foreign home buyers.

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Speaker 1: He's written an open letter saying that he has clients

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Speaker 1: wanting to invest millions of dollars in New Zealand, but

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Speaker 1: they can't because they can't buy homes here. Anthony Morsenoff

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Speaker 1: is with us now.

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Speaker 2: Hey, Anthony, Hi, thank you for having me on your show.

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Speaker 1: Yeah, thanks very much for joining us. Now, I understand

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Speaker 1: you've got one ultra high net worth individual in particular

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Speaker 1: that you are representing. Is that right?

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Speaker 2: I've got multiple I've got a whole series at Forbes

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Speaker 2: Forbes Global Properties. We deal with one of the largest

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Speaker 2: databases of ultra high networth people in the world, and

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Speaker 2: there's quite a number of those that have property investment

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Speaker 2: portfolios around the world. They'd love to include New Zealand

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Speaker 2: in that portfolio and they are having. The current legislation

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Speaker 2: that we're dealing with is good for corporates, but it's

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Speaker 2: not good for the owners of those corporates because so

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Speaker 2: they want to come here and invest into New Zealand,

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Speaker 2: they can buy a house or they have to wait

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Speaker 2: three years, which is just not practical. People walking away how.

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Speaker 1: Much do you reckon is sitting out there and just

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Speaker 1: on your books wanting to come in money wise but can't.

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Speaker 2: I would have easy five hundred million dollars of people

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Speaker 2: wanting to invest in New Zealand, and I mean easy.

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Speaker 2: I've got clients there that want to invest into big

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Speaker 2: land developments for residential houses. I've got to buy a

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Speaker 2: tech company that wants to come to New Zealand. So

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Speaker 2: I've got a lot of different sort of people that

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Speaker 2: want to invest here in New Zealand and they want

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Speaker 2: to buy properties, not only in Auckland. These are not

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Speaker 2: only Auckland buyers. These are people that want to buy

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Speaker 2: also in the country. We'd often, you know, we get

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Speaker 2: homes that are worth let's say four or five million

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Speaker 2: dollars and they can't, and they would be really good

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Speaker 2: to adding to the people in the countryside that they

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Speaker 2: get the people in the countries. I get additional income

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Speaker 2: from these people buying these properties they can't.

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Speaker 1: How long do you reckon We've because obviously Australia's are

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Speaker 1: doing the old ban on the foreign buyers, and there's

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Speaker 1: also talk about the wealth tax and stuff like that.

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Speaker 1: So how long have we got do you think to

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Speaker 1: cut Australia's lunch.

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Speaker 2: I think that may change, but at the current moment,

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Speaker 2: I don't see that. I think we've got a short

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Speaker 2: time period with everything what's happening in the United States

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Speaker 2: and over in Europe. Those are the people at the

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Speaker 2: moment are looking at New Zealand. It's a safe haven

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Speaker 2: and we've got a lot to offer as New Zealand

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Speaker 2: for those people. But at the same time, those people

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Speaker 2: have got a lot to offer to New Zealand. You know,

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Speaker 2: they offer employment, they bring tech skills, they bring investment

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Speaker 2: to companies here, and we're not letting them buy a house.

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Speaker 2: It's too crazy for words.

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Speaker 1: All right, Listen, you've spoken to the Prime Minister about it.

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Speaker 1: Any indication it's going to change.

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Speaker 2: He said to me personally, he says, about half a

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Speaker 2: year ago, watch this space, and I've had That was

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Speaker 2: November last year at a at a meeting with him,

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Speaker 2: and since then, I've watched that space and I've talked

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Speaker 2: to other ministers. I've talked to members of Parliament. I've

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Speaker 2: had clients talk to ministers, and everything seems to be

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Speaker 2: on hold. Nobody's doing anything.

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Speaker 1: We're still watching the space. Okay, listen. Thank you very much, Anthony,

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Speaker 1: I really appreciate your time. Anthony morzenkof Luxury real estate agent.

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