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Changes proposed to home buying for overseas nationals Wednesday, 20 December 2017

Proposed changes to the Overseas Investment Act (2005) mean that overseas nationals will generally be unable to buy existing homes or residential land within New Zealand.

Under the proposed legislation, someone who holds a permanent resident visa, and has been living here for at least a year - including at least 183 days in the past year - will still be able to purchase a home. However, details of the proposed changes are still being worked through.

The changes to the legislation are expected to be finalised and implemented later in 2018.

Residential Land Changes to the Overseas Investment Amendment Bill - New Zealand Treasury