Tittle : New Zealand Homes 'Not for Sale' to Foreigners Under New PM
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New Zealand Homes 'Not for Sale' to Foreigners Under New PM
Overseas buyers will no longer be allowed to purchase existing homes in New Zealand, Prime Minister-elect Jacinda Ardern said Tuesday, as she unveiled a raft of policy deals made with her coalition partners.The move to tackle soaring property prices was agreed during lengthy negotiations between the Labour Party leader and populist powerbroker Winston Peters to form a new government that also includes the Green Party.
Ardern announced plans to slash immigration and focus on regional development and job creation.
"We have agreed on banning the purchase of existing homes by foreign buyers," she said, specifying that the new rules only applied to non-residents.
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