Living and Working in New Zealand – Expat Network

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For the latest business news and markets data, please visit CNN Business. The country’s parliament on Wednesday passed a law banning foreigners from buying into most parts of its residential property market as the government seeks to cool red-hot house prices. The Overseas Investment Amendment Bill will prevent overseas investors from purchasing existing properties in New Zealand, but they will still be able to buy into new apartment complexes and certain other parts of the housing market.

New Zealand Prime Minister Jacinda Ardern campaigned on a promise to clamp down on foreign buyers, blaming them for soaring prices that have left many New Zealanders unable to enter the property market. Public policy firm Demographia regularly ranks Auckland, New Zealand’s biggest city, as one of the world’s least affordable places to buy a home. Home ownership rates among New Zealanders have also been falling in recent years. But government data suggests that foreign buyers actually only make up a small part of the country’s housing market.

Most foreign buyers in New Zealand don’t state where they’re from, official data shows, but the majority of those who do are from China. New Zealand has also proved to be a popular retreat for the rich and famous. Related: New Zealand is going to start taxing tourists. House prices could stop rising before the end of the year or even begin falling, he predicted.

Nearby Australia has also tried to slow runaway house prices with measures including a similar ban on foreign investors buying existing properties. Prices in the country have been falling since the end of last year.

The new law in New Zealand doesn’t apply to Australian and Singaporean buyers because of existing arrangements between the countries. It still needs to receive royal assent, which is a formality, before it comes into force. We’re no longer maintaining this page. Visiting the adventure capital of the world. CNNMoney Sponsors. SmartAsset Paid Partner. These are your 3 financial advisors near you This site finds and compares 3 financial advisors in your area Check this off your list before retirement: talk to an advisor Answer these questions to find the right financial advisor for you Find CFPs in your area in 5 minutes.

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Can a foreigner live in new zealand –

 
The nature, weather, extremely low crime rate, and the friendliness of the Kiwis can a foreigner live in new zealand all positive aspects. Luckily, it is straightforward for non-residents to open a bank account. Just mention your plan to retire in New Zealand in our Free Assessment читать. This option allows a temporary stay in New Zealand on a visitor visa for up to 2 years, considerably longer than on a ‘regular’ visitor visa. These plans provide the support you need. Public transportation in New Zealand is provided by private companies. If you want to know more about the healthcare system, read our full Healthcare in New Zealand guide.

 
 

Planning a move to New Zealand? Here’s everything you need to know – The Irish Times – Top Level Navigation

 
 
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