New Zealand Weakens Bill Banning Sale of Homes to Foreigners

auck

In an attempt to tackle a housing shortage and increased real estate prices on the archipelago, New Zealand lawmakers passed a bill that would ban foreign investors from purchasing more than 60% of new apartment and condo buildings. Initially, the law was much more strict and unforgiving, but now, if now non-residents and other foreigners will be able to purchase land, houses, and apartments. The rewritten law also exempts Singaporean nationals from any housing investment limitations under … [Read more...]