Kiwi land not such a bargain

Last updated 05:00 04/02/2013

Relevant offers

Industries

Foodstuffs one of world's largest retailers: Global Powers of Retailing report Number of foreign trusts declines ahead of new regulations Too old for IKEA: Study shows your age dictates where you go furniture shopping Agri-food co-ops worth $43 billion to NZ economy Samsung confirms Galaxy Note 7 batteries fault, announces response plan And, we are (almost) go for Kiwi Rocket launch in northern Hawke's Bay Dancing Sands toasts success from Kiwi products Mark Hotchin returns to New Zealand but critics say Hanover investors unlikely to forgive From urban planning to underwear: Confitex co-founder Mark Davey Top of the south working group advocates seek focus in fishery preservation

A global bond fund head's suggestion that land in New Zealand was a safe investment should be taken with a pinch of salt, economists say.

Bill Gross, founder of US-based Pimco, said "one of our investment committee members swears he would buy land in New Zealand and set sail" in the present economic climate. Most commentators contacted by BusinessDay agreed Gross' reference was probably on the flippant side.

"From the US, given where the cross is at the moment, New Zealand land would be very expensive," said ANZ senior economist Mark Smith.

It was also impossible to think of New Zealand in isolation from the international economy, said NZ Institute of Economic Research chief economist Shamubeel Eaqub.

"But his point may more be along the lines of at least you will have a lovely farm in a beautiful country."

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content