New Zealand is easing off its ban on foreigners buying houses.

The South Pacific island nation is hoping a capital injection via wealthy foreigners will perk up its sluggish economy, Bloomberg reported, but investment opportunities in the country’s luxury real estate sector will only be available to a select few. 5

5

For several years New Zealand was on the receiving end of a bizarre housing trend — billionaires buying up massive acreage as a bolt hole against global calamities. In addition to boasting natural beauty, stability and remoteness, the island nation is considered particularly safe from nuclear war .

The recent policy move to welcome back such buyers carves out a careful exception to a 2018 rule that largely banned overseas buyers from the country’s housing mark

See Full Page