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New Zealand bans foreigners from buying houses to tackle price rises

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The Government is adamant the changes will help Kiwis get back on the property ladder. Trade and Economic Development Minister David Parker, who is responsible for the bill, said the “significant milestone” would help make the dream of home ownership a reality for more Kiwis. “This Government believes that New Zealanders should not be outbid by wealthier foreign buyers,” he said. “Whether it’s a beautiful lakeside or ocean-front estate, or a modest suburban house, this law ensures that the market for our homes is set in New Zealand not on the international market.”

https://www.stuff.co.nz/business/property/106297829/labours-bill-to-curb-foreigners-buying-new-zealand-homes-becomes-law

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