15 July, 2015

MEDIA RELEASE

Date: July 15 2015

New Zealand Chinese Association National President explains investment in residential property as an established savings strategy

New Zealand Chinese Association (NZCA) National President Meng Foon says that those buying homes in Auckland are only doing so in accordance with the laws of New Zealand. Until the government makes more laws to ease the housing market, many ordinary investors, whether they be local or foreign, will continue to buy property as a means of securing their family's future.

Mr Foon sees property as a tangible investment for the family unit no matter what their origins. "It is important to ensure that our children have a home to go to, for income protection, for planned retirement, and for the future."

Mr Foon suggests that government could better encourage investors to look to the provinces where investment is much needed. For example, there should be more information on government websites to promote the value of provincial properties.

"New Zealand is a great place to come and live - with space and harmony in our communities; a lot of overseas people see our values and they want to be part of this paradise."

Mr Foon says ethnic Chinese have been in New Zealand since the early 1850's and have contributed much to its economy and way of life. They have the highest employment rate in the country. "We are hardworking and enterprising, and we love to share our culture with all Kiwis - such as Chinese New Year, lantern festivals, and our lovely food throughout the breadth and width of Aotearoa - even the smallest towns will have a Chinese takeaway shop of some sort."

For more information, please contact Meng Foon 0274 484084.