• New Zealand has banned foreigners from buying homes in the country

    3 monthes ago - By Business Insider

    New Zealand's government has banned foreigners from purchasing existing homes in the country.
    The Overseas Investment Amendment was passed by parliament on Wednesday and is designed to make housing more affordable for nationals.
    "This government believes that New Zealanders should not be outbid by wealthier foreign buyers," the associate finance minister, David Parker, said in a statement.
    The New Zealand government has passed a ban on foreigners buying existing homes in the country in a bid to tackle soaring house prices and rising homelessness, Al Jazeera and The Guardian reported.
    The...
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  • New Zealand has banned the sale of homes to foreigners after too many people started treating the island like their doomsday hideout

    New Zealand has banned the sale of homes to foreigners after too many people started treating the island like their doomsday hideout

    3 monthes ago - By Business Insider

    New Zealand has banned foreigners from buying property, a response to skyrocketing house prices across the nation.
    The housing crisis has been pinned in part on wealthy overseas investors looking for a place to escape a doomsday scenario.
    US celebrities, including former TV host Matt Lauer and Paypal co-founder Peter Thiel have already snapped up luxury homes.
    New Zealand has banned foreigners for buying property there in response to skyrocketing house prices across the nation.
    Parliament passed the law on Wednesday, barring most overseas visitors from purchasing homes or land.
    "If you've...
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