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Chinese not among top buyers of NZ land

06:33 AEST Sun Feb 5 2012
AAP
A view of rural farmland from the Southern Alps in Wanaka, New Zealand (Getty)
A view of rural farmland from the Southern Alps in Wanaka, New Zealand (Getty)

Official figures show that Americans, Canadians and Brits are the top buyers of New Zealand land.

Figures released by the Overseas Investment Office (OIO) show that over the past five years, only 223ha of land were sold to Chinese buyers.

A total of 872,313ha of New Zealand land were sold to foreign interests over that period.

The top buyers were the United States, Canada, United Kingdom, Australia and Israel.

There were 194 purchases made by buyers from the US, totalling 193,208ha, Fairfax New Zealand reported.

The figures do not show if there are any New Zealand ownership shares involved.

The sale of land to foreign investors has come under scrutiny, with the recent approval of the purchase of the Crafar dairy farms by a Chinese group.

The 16 farms have a combined area of about 7900ha.

The Crafar Farms Purchase Group, led by Kiwi businessman Sir Michael Fay, is challenging the sale in the Wellington High Court.

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