New Zealand Considers Allowing Wealthy Foreigners to Buy Luxury Homes Under Golden Visa Scheme
The New Zealand government is considering a proposal to allow high-net-worth foreigners with golden visas to purchase luxury homes worth at least NZ$5 million. This move aims to attract wealthy individuals and boost investment in the country.
New ZealandGolden VisaLuxury HomesForeign InvestmentProperty MarketReal EstateAug 29, 2025
According to a Bloomberg report, the move comes months after the government relaunched its Active Investor Plus visa, known as the golden visa, to draw wealthy individuals and boost investment. While the program received 267 applications covering 862 people as of August 8, participants were barred from buying homes in the country. Immigration New Zealand data shows potential investments from the program could reach NZ$1.63 billion, with about 40% of applicants from the United States.
Foreign ownership of housing has been restricted since 2018, when the Labour government led by Jacinda Ardern introduced a ban to address affordability concerns. Only citizens, tax residents, and nationals from Australia and Singapore — under trade agreements — can freely buy property.
Prime Minister Christopher Luxon had earlier abandoned an election campaign promise to allow foreign purchases of homes valued above NZ$2 million with a tax levy, after negotiations with coalition partner New Zealand First. That party’s leader, Winston Peters, told Bloomberg News last year he is open to foreign ownership of luxury homes if buyers also invest in New Zealand.
Finance Minister Nicola Willis signaled earlier this month that a decision on the policy was imminent. “A decision would be made by our cabinet in the coming weeks,” she told Bloomberg Television in New York.
The proposal is seen as a key measure to attract foreign capital, though it remains subject to coalition agreement and cabinet approval.
Frequently Asked Questions
What is the golden visa program in New Zealand?
The golden visa program, also known as the Active Investor Plus visa, is designed to attract wealthy individuals by offering them residency in exchange for significant investments in New Zealand.
Why is New Zealand considering this change?
New Zealand is considering this change to attract foreign capital and boost investment in the country, which could help drive economic growth and development.
What is the current restriction on foreign property purchases in New Zealand?
Since 2018, foreign ownership of housing has been restricted to address affordability concerns. Only citizens, tax residents, and nationals from Australia and Singapore can freely buy property.
What is the minimum value of the luxury homes that could be purchased under this proposal?
Under the proposal, high-net-worth foreigners with golden visas could purchase luxury homes worth at least NZ$5 million ($3 million).
When is the decision expected to be made?
The decision is expected to be made by the cabinet in the coming weeks, following discussions and coalition agreement.
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