NZ to ban foreign buyers of existing homes but says change would comply with TPP-11

Tue, 31 Oct 2017

By Paul McBeth Oct. 31 (BusinessDesk) - Prime Minister Jacinda Ardern announced plans to effectively ban foreign buyers of existing residential property but says the prohibition doesn't put New Zealand at odds with the slimmed down version of the Trans-Pacific Partnership deal. In her first post-Cabinet press conference, Ardern and Trade Minister David Parker unveiled the plan to introduce legislation to amend the Overseas Investment Act restricting foreign buyers of existing residential property before Christmas and passing the law earl...

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