New Zealand bans foreigners from buying homes as housing crisis escalates

Legislation to ban foreigners from buying homes in New Zealand will be introduced, as the country’s housing crisis continues.

In a move that could become a test-case for other nations suffering housing shortages, the country will only allow those who hold a residential visa to buy existing homes.

It means overseas developers and individuals will have to build new homes if they want to purchase residential property.

Read the full story at The Independent

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s