Even a few new high-net-worth residents buying homes would have a ‘significant impact’ on the luxury property market, analyst says
Although investing in residential property does not qualify for the scheme, those whose applications are approved will be able to buy homes for their own use.
Wellington restricted foreign property purchases in 2018 to avoid speculation and keep housing affordable for citizens. Australians and Singaporeans were the only foreign groups allowed to buy homes in the country until recently.
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