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September 3, 2025

New Zealand to allow more wealthy foreigners to buy homes

By CHARLOTTE GRAHAM-McLAY
Associated Press

WELLINGTON, New Zealand — New Zealand will relax a ban on foreigners buying homes in the country to allow some wealthy overseas business investors a single high-value residential property purchase, Prime Minister Christopher Luxon said Monday.

The move partially reverses a ban introduced in 2018 by a previous government to cool a runaway housing market fueled by property speculation. Holders of a residency “golden visa” reintroduced by Luxon's government in April will now be able to buy one home worth at least 5 million New Zealand dollars ($3 million).


 
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