Starting March 6, 2026 foreigners with a golden visa will be able to buy housing in New Zealand again. They will be allowed to purchase or build houses worth at least 5 million New Zealand dollars (3 million US dollars). This decision was the result of long negotiations within the coalition government and removes some of the restrictions imposed several years ago.
Changes to the Active Investor Plus visa program, designed to revitalize the economy, have already attracted the attention of wealthy foreigners. According to the immigration Service, almost 600 applications have been submitted with a potential investment of 3.5 billion local dollars. About 37% of applicants are US citizens. According to realtor Caleb Paterson, in the last four days alone, he has received six real inquiries from America, which, in his opinion, is related to recent political events in the United States.
The ban on foreigners buying homes, introduced under former Prime Minister Jacinda Ardern, was aimed at combating speculation and price gouging. Although wealthy immigrants could live in the country, they could not purchase a house. This rule has now been lifted for holders of "golden visas". The innovation was adopted against the backdrop of a prolonged downturn in the real estate market: in Wellington and Auckland, prices fell by 20-28% from their peak values at the beginning of 2022. For the elite segment, lifting the ban could be a turning point. According to Paterson, over the past year and a half, about 40% of expensive properties have been withdrawn from sale due to a lack of buyers. Now many of them are returning to the market. Moreover, not only foreigners have become more active, but also local residents who are afraid of increasing competition. There is a special interest in the resort town of Queenstown on the South Island. Realtor Mark Harris notes a 61% increase in website traffic from the United States and an increase in the number of private jets in the region. In total, there are about 7,000 houses in New Zealand that cost more than 5 million New Zealand dollars, but only 350 of them are put up for sale annually, which makes this segment extremely limited for new buyers. Source: Bloomberg
