New Zealand bans foreigners from purchasing homes

Photo Cred: newzealandnow.govt.nz New Zealand bans foreigners from buying homes

New Zealanders have said they are tired of being “tenants on their own land.”

New laws have been implemented which prohibits foreign people from buying existing homes amidst a housing crisis on the conglomerate of islands.

Associate minister of finance David Parker said the ban would mean housing would become more affordable for locals, and supply would increase.

Parker told the Guardian, ““We think the market for New Zealand homes and farms should be set by New Zealand buyers, not overseas buyers…That is to benefit New Zealanders who have their shoulder to the wheel of the New Zealand economy, pay tax here, have families here. We don’t think they should be outbid by wealthier people from overseas”

The ban applies to the all nations except Singapore and New Zealand.

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2 Comments
  1. ANTHONY SUBLETT 3 months ago
    Reply

    They are right why you have to be a tenant in your own land?? Good for them glad they making a change to make it better for the locals that’s the way it should be!!!👍👍

    • Slohand 3 months ago
      Reply

      Yeah cool. They’re right. I’d like to move there…. Oh wait… I’d be a foreigner.

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