New Zealand bans foreigners from buying property

https://money.cnn.com/2018/08/15/inv...ers/index.html

Quote:

The country's parliament on Wednesday passed a law banning foreigners from buying into most parts of its residential property market as the government seeks to cool red-hot house prices. The Overseas Investment Amendment Bill will prevent overseas investors from purchasing existing properties in New Zealand, but they will still be able to buy into new apartment complexes and certain other parts of the housing market. Nearby Australia has also tried to slow runaway house prices with measures including a similar ban on foreign investors buying existing properties. Prices in the country have been falling since the end of last year.

I don't know much about real estate laws outside of the USA. My wife and I talked about buying property in Thailand; something I could own like a condo.

Ranb

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