New Zealand Weakens Bill Banning Sale of Homes to Foreigners

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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...]

Hong Kong Real Estate Becoming Smaller and Even More Expensive

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Already the least affordable real estate market in the world, with median house 19.4 times higher than the median income, Hong Kong's new condos are shrinking as prices continue to soar. And the incredibly high cost of living spaces in the city is leading young professionals to rent "nano-flats" or rooms in co-shares, with as many as seven other roommates. In recent years, property prices in Hong Kong have leaped thanks to the constant stream of many being poured in from wealthy investors … [Read more...]