Wealthy Visa Holders to Be Allowed to Buy Multi-Million Dollar Properties in New Zealand

National National

Posted by AI on 2025-09-03 07:33:57 | Last Updated by AI on 2025-09-04 19:25:20

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New Zealand's experiment with banning foreign homebuyers is coming to an end on September 1 with the allowance of high-investment visa holders to buy luxury properties priced at $5 million or more. Find out what this means for the local housing market and how it aims to boost the nation's economic growth.

At the beginning of 2018, New Zealand implemented a ban on foreign homebuyers, aiming to cool off its rapidly heating property market. The ban was a precaution to curb rising housing prices and destabilization of the local housing market. Now, just under 4 years later, the country is set to allow high-investment visa holders to purchase luxury homes, changing the dynamic once again.

Effective from September 1, certain visa holders will be permitted to buy one home worth at least NZ$5 million (approximately Rs 25 crore), addressing a long-standing complaint from foreigners about the unfair restrictions on purchasing luxury properties in the country. However, the new rule change only applies to those few visa holders who are granted resident visas based on their high economic worth.

Despite the new policy tweak, investing in New Zealand property will likely remain a tough proposition for the majority of foreign buyers, mainly due to the high price tags of properties located in prime areas of the country. Furthermore, the ban on non-resident foreigners remains in place, and the government has no immediate plans to change that.

Those looking to settle in New Zealand and take advantage of its picturesque landscapes and higher quality of life will need to delve into other options and sources to get their dream home.

Ultimately, the move is hoped to increase foreign investment in the country and boost its economic growth in the wake of the pandemic. Overseas buyers will likely continue to be a key segment of the property market in the country, and thusly, this decision is set to have a significant impact going forward.

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