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New Zealand bans foreigners from buying property in effort to clamp down on house price growth

New Zealand’s Parliament has passed a law to ban many non-resident foreigners from buying existing homes, completing the Labour-led Government’s election campaign pledge.

  • ABC

Prime Minister Jacinda Ardern campaigned before September’s election on a promise to clamp down on house price growth and reduce high rates of homelessness, in part by banning foreign buyers.

Xark 1a“This is a significant milestone and demonstrates this government’s commitment to making the dream of home ownership a reality for more New Zealanders,” Associate Finance Minister David…

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