Ron DeSantis Intends to Prevent Chinese Investors from Purchasing Property in Florida

It isn’t often I’d applaud an American leader following the lead of Canadian Prime Minister Justin Trudeau, but in this case, I’ll make an exception.

On Tuesday, Florida Governor Ron DeSantis held the first news conference for his second term as governor. Speak from Coconut Jack’s Waterfront Grille in Bonita Springs, Florida, DeSantis addressed the importance of “protecting Florida,” outlining the state’s plans for environmental conservation.

Gov. DeSantis unveils the Future of Conservation in Florida https://t.co/NojvKw7MZH

— Ron DeSantis (@GovRonDeSantis) January 10, 2023

Expressing a desire “to leave Florida to God better than we found it,” DeSantis signed an executive agreement aimed at the following things:

• Over four years, pledge $3.5 billion for conservation
• Directs DEP for the identification and prioritization of strategies to accelerate water quality restoration at Indian River Lagoon
• Directs DEP that it works with the legislature to expand the wastewater grant program. This will include non-point source and agricultural runoff.
• South Florida Water Management District directs Everglades restoration projects to be completed quickly, including those that lower the risk of harmful discharges

DeSantis also addressed the Chinese investor trend. “gobbling up land” Sunshine State. He noted the Marxist, Leninist turn of Xi Jinping during his tenure as CCP President, and expressed a desire to prevent China’s purchase of both farmland and residential property, stating:

“So, my view on our economy…in Florida is, you know, we don’t want to have holdings by hostile nations. And so, if you look at the Chinese Communist Party, they’ve been very active throughout the Western Hemisphere in gobbling up land and investing in different things.

And, you know, when they have interests that are opposed to ours and you see how they’ve wielded their authority, and especially with President Xi, who’s taken a much more Marxist, Leninist turn since he’s been ruling China, that is not in the best interests of Florida to have the Chinese Communist Party owning farmland, owning land close to military bases, which, you know, my view is – and I think there’s a broad agreement on those two – but my view is, ‘Okay, yeah, no farmland, but why would you want them buying residential developments and things like that?’ I don’t want them owning subdivisions and things like that.

I think that the issue is going to be – I think people agree with that – the issue’s going to be, yeah, obviously, if someone comes in and buys, it’s not CCP that’s signing that. These are holding companies, and all that. So you’ve got to structure that in a way that will effectively police it, but yes, we do not need to have CCP influence in Florida’s economy.”

Per WFLADeSantis cited previous actions taken by the state to counter CCP influence.

“Obviously if someone comes in and buys, it’s not the CCP that’s signing this, these are holding companies and all that,” DeSantis said. “But yes, we do not need to have CCP influence in Florida’s economy,” It was noted that Florida had banned Confucius Institutes from Florida colleges to stop its influence. There needed to be a mechanism to block them.

“They’ve used those Confucius Institutes across the country to bring propaganda, as if universities don’t have enough problems already,” DeSantis said. “We’ve also done things to limit their ability to fund research in our universities, I think we’re going to go further than that, the legislature only went so far a couple of years ago. I think there’s an appetite to do even more,” They said that their influence was “insidious” Mentioning how Disney, Wall Street and other entertainment companies would alter policies and things to placate CCP.

We’ve addressed the Chinese purchase of farmland in the U.S. previously. As Mike Miller Not noted July:

Deborah J. Comstock, whom she describes as “a girl farmer” — she actually Is a farmer — wrote in a 2020 op-ed For the Ionia Sentinel – Standard:

The goal of China’s Communist Party authorities suggest specific strategies to invest in agriculture overseas and to gain greater control over oilseed and grain products, to create policies to support facilities, equipment and inputs for agricultural production, and to create large multinational grain-trading conglomerates.

The revenues from these productions do not pass through the American commodities markets but, rather, flow through the foreign entities’ own distribution channels, directly to the home country.

This. Is. Insane. While Communist China’s ownership of farmland in America is a small part of total U.S. farmland of roughly 900 million acres, it is an increasing trend by the ChiComs. Shocked? Me, neither. This begs the question:

Why would we sell any American land/industry to CHINA?

It is amazing to think that the “girl farmer” Many states don’t have any regulations to prevent such sales.

DeSantis seems to be able to see the whole picture by observing: “It’s a larger issue. It’s just one, I think we’re a big fish now, I think we have the 13th biggest economy in the world, if we were our own country in Florida, you know, we’re a force to be reckoned with.” DeSantis acknowledged the dangers associated with being too closely tied to China in economic terms. “It hurts our economy and it hurts our security.”

DeSantis added: “When COVID hit, people needed all these supplies; I think like 100 percent of it was made in China. Why would you want to rely on a hostile nation for things that are integral for our quality of life and security?”

Where does Justin Trudeau fit into this conversation? As noted in the Daily MailCanada has banned foreign investors from real estate.

Trudeau prohibited foreign investors from purchasing homes in Canada earlier this year to cool the overheated housing markets. Most of Canada’s foreign investors are from China and India. January 1 was the effective date of the ban.

Trudeau implemented the ban in response to an increase of 38 percent in property prices due to immigrants. Census data released in October revealed immigrants now make up 23 percent of the population, with most coming from Asia – causing many industry experts to posit that there is a connection.

It isn’t just Canada that’s taken note of the land gobbling, either.

Florida’s governor is similar to other countries like Australia, New Zealand and Canada that have imposed taxes on foreign buyers who purchase property.

New Zealand, the country where Chinese investment is blamed for a large spike in home-property prices, now has a 15% tax on non-resident buyers.

Australia has imposed a 12.6 percent tax since 2017 on foreign buyers who purchase homes worth more than $750,000. Canada also imposes a 12.6 percent tax on foreign buyers who purchase homes worth more than $750,000. This has been in effect since 2017.

According to Wharton Business Journal of UPenn however, the US doesn’t impose tax restrictions on foreign buyers.

Maybe Ron DeSantis’ latest move will set a precedent. It attracts some attention to the matter, which is a minimum.

Editor’s Note: This article has been edited to include additional remarks from Governor DeSantis and for clarity.