the price of land in New Zealand

An explanation for the rising price of farmland in New Zealand.

[T]he upside-down world of apocalyptic holiday homes generally eschews downtowns. Which means New Zealand is doing well. Billionaires such as Peter Thiel, co-founder of PayPal, are buying up beautiful but secluded bits of the planet, planning for a time when it might pay to be a long way away. In the process they are pushing up the price of land for sheep farmers and locals. In other words, pre-apocalyptic gentrification. [Emphasis added.]

Edwin Heathcote, “Armageddon architecture: upmarket bunkers for the worried wealthy“, Financial Times, 8 April 2017 (gated paywall).

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