The Labour Government’s election promise to ban non-resident foreign property buyers from buying existing property in New Zealand kicked off on 22 October 2018. So far, the change to the Bill seems to have had little impact on the market, despite dire predictions, and buyer activity remains stable.
Topics: Mortgages, Foreign buyers, foreign buyer ban, NZ Mortgage Adviser, House prices
With a change in government comes a change in policy and the first of these is a ban on foreigners buying existing property in New Zealand. Just how much of an impact this will have on the New Zealand property market remains to be seen, with many experts believing only a small percentage of property buyers will be affected. Is the ban simply a political move or will it help curb rising house prices?
Topics: Buying, Mortgage, new zealand real estate, meth testing, meth contamination, labour government, foreign buyer ban
