New+Zealand+bars+home+sales+to+foreigners
Thursday, 16 August 2018 - 14:00
New Zealand bars home sales to foreigners
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New Zealand's parliament has banned many foreigners from buying existing homes in the country - a move aimed at making properties more affordable.
 
The ban only applies to non-residents. Australians and Singaporeans are exempt because of free-trade deals.
 
New Zealand is facing a housing affordability crisis which has left home ownership out of reach for many.
 
Low-interest rates, limited housing stock, and immigration have driven up prices in recent years.
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