Foreign Buyers Can Now Buy NZ$5M+ Homes
Foreign Buyers Return to New Zealand’s Property Market with NZ$5 Million Threshold
For the first time in seven years, foreigners can once again buy property in New Zealand—if they are prepared to spend at least NZ$5 million (US$2.93 million).
The change comes as part of updates to the country’s Active Investor Plus visa, designed to attract high-end investment and inject confidence into a housing market that has slowed in recent years.
Known as the “golden visa,” the program was launched in 2022 and strengthened in April 2025. It now requires a minimum investment of NZ$5 million, down from NZ$15 million previously, and provides a pathway to residency and, eventually, citizenship after three to five years.
By late August, Immigration New Zealand had received 329 applications, largely from Americans (42%), Chinese (15%), and Hong Kong nationals (12%), representing potential investments totaling nearly NZ$2 billion. So far, 51 applicants have completed their investments and secured visas.
The new rules allow these investors to purchase or develop luxury homes worth NZ$5 million or more. But experts say the effect on the wider property market is likely to be small.
“We estimate only about 0.4% of all dwellings in New Zealand are valued above NZ$5 million,” said property economist Kelvin Davidson. “This is a tiny segment, so it’s unlikely to trigger a broader property boom.”
New Zealand’s housing market has cooled since the pandemic, with average home prices down 17.2% from their January 2022 peak. Auckland and Wellington have been hardest hit, while Christchurch has seen modest gains.
Still, analysts predict that high-end areas like Auckland, Queenstown, Bay of Islands, and Hawke’s Bay could see a boost in activity, with estates, vineyards, and architect-designed homes drawing foreign buyers.
Developers are preparing luxury lifestyle projects, including golf course communities such as Te Arai Links near Auckland and The Hills near Queenstown, anticipating interest from U.S. investors benefiting from a strong dollar.
New Zealand continues to attract buyers seeking stability, thanks to its natural beauty, lifestyle appeal, and political calm. Retirees, remote workers, and international investors see the country as a “haven” amid global uncertainty.
While some worry about the influence of foreign buyers on property prices, many note that multimillion-dollar homes remain out of reach for most locals. “By the time an investor secures residency and buys a home, that’s NZ$10 million flowing into our economy,” said Dominic Jones of Greener Pastures New Zealand.
Mutib Khalid is a skilled content writer and digital marketer with a knack for crafting compelling narratives and optimizing digital strategies. Excel in creating engaging content that drives results and enhances online presence. Passionate about blending creativity with data-driven approaches, Mutib Khalid helps brands connect with their audience and achieve their goals.
