New Zealand to stop super-rich foreigners from buying homes
Bernard Lagan, Sydney
Super-rich migrants, many of them American, rushed to buy up New Zealandâs remote mountain estates, some as boltholes to escape the doomsday they feared a Trump presidency would bring.
Now New Zealanders have had enough. Under press ure from hikers and hunters who are concerned that wealthy foreign owners have restricted access to tracts of the countryâs most picturesque wilderness, the government has made it clear that absentee landowners are no longer welcome.
Within weeks parliament is expected to pass laws promised by Jacinda Ardern, the prime minister, that will declare the nationâs homes to be âsensitive assetsâ, meaning that they can be sold only to residents or citizens of New Zealand. Australians will be exempt from the ban. âNew Zealanders should not be outbid forâ¦Source: Google News New Zealand | Netizen 24 New Zealand