US EditionNew Zealand to allow some wealthy foreign investors onto property market
The policy permits foreign investor visa holders to purchase or build luxury homes worth NZ$5 million or more, aiming to attract over NZ$1.8 billion in investment to support economic recovery.
- New Zealand will allow wealthy foreign investors holding golden visas to purchase luxury residential properties worth at least NZ$5 million to attract investment and revive its sluggish economy.
- The move partially reverses a 2018 ban on foreign home buyers that was introduced to cool a runaway housing market fueled by property speculation.
- Prime Minister Christopher Luxon said the change would boost economic growth by luring wealthy foreigners during a recession and applications could result in up to NZ$1.8 billion in investment.
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New Zealand reverses ban, lets some foreign investors buy property | Honolulu Star-Advertiser
WELLINGTON >> New Zealand on Monday said it will open its housing market to wealthy foreigners who invest in local businesses, reversing a previous ban in expectation it will boost economic growth.
·Honolulu, United States
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New Zealand to allow some foreign investors to buy homes
WELLINGTON - New Zealand will allow some wealthy overseas-based investors with an investor residence visa to buy or build a house as long as it is worth at least NZ$5 million ($2.94 million), Prime Minister Christopher Luxon said on Monday. Read more at straitstimes.com.
·Singapore
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Total News Sources22
Leaning Left7Leaning Right5Center5Last UpdatedBias Distribution41% Left
Bias Distribution
- 41% of the sources lean Left
41% Left
L 41%
C 29%
R 29%
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