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New Zealand bans foreign buyers
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Graham_Devon
Posts: 58,560 Forumite
Quite like this. Good for them for looking out for their own people, over profits.
Comes as house prices have increased 75% in the last 4 years, meaning residents are now priced out. Not too dissimilar to the UK (but specifically London)
However, the government has taken devisive action. Action which isn't aimed at pumping things up further, but possibly a reduction, in order to protect it's residents.
https://www.theguardian.com/world/2018/aug/15/tenants-on-our-own-land-new-zealand-bans-sale-of-homes-to-foreign-buyers
Comes as house prices have increased 75% in the last 4 years, meaning residents are now priced out. Not too dissimilar to the UK (but specifically London)
However, the government has taken devisive action. Action which isn't aimed at pumping things up further, but possibly a reduction, in order to protect it's residents.
https://www.theguardian.com/world/2018/aug/15/tenants-on-our-own-land-new-zealand-bans-sale-of-homes-to-foreign-buyers
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