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Opening borders to unleash 'pent up' foreign buying

Brent Melville
Thu, 24 Mar 2022

Opening borders to unleash 'pent up' foreign buying
Precinct's 10 Madden, now part of a Singaporean-controlled portfolio (Image: BusinessDesk))
Brent Melville
Thu, 24 Mar 2022
The gates to New Zealand's property kingdom are reopening and market players expect foreign buyers to lead the charge back across the border in the coming months.Pandemic-induced border closures lopped $1.97 billion from foreign investments into NZ property over the past two years, according to data from global real estate and investment firm CBRE. The firm's deal counter only adds up transactions worth more than $20 million.In that part of the market, the biggest hit by far was to the office sector, where there was a net capital outflo...

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