New Zealand has reopened its luxury real estate market to wealthy foreign investors, a strategic pivot aimed at stimulating a stagnant economy amidst shifting global geopolitics.
Effective March 6, holders of the "Active Investor Plus" visa—the nation's premier "golden visa"—are permitted to purchase or construct residential properties valued at a minimum of NZ$5 million.
The policy reversal marks the end of a contentious ban introduced under former Prime Minister Jacinda Ardern, which sought to curb offshore speculation blamed for soaring house prices.
However, the current coalition government’s decision to relax these restrictions comes as the domestic market remains mired in a multi-year slump; prices in Wellington and Auckland have plummeted by up to 28% and 20% respectively since their 2022 peaks.