Wealthy Americans will now have an easier time moving to the Land of the Long White Cloud in 2026.
After months of debate earlier this year, New Zealand has officially opened its real estate market to golden visa holders, relaxing restrictions to allow affluent foreigners to snag property in the country. In an effort to help revive New Zealand’s sagging economy, the coalition government will allow well-off investors to buy homes priced at NZ$5 million (around $3 million) or more, Bloomberg reported.
This new decision, passed via legislation last week, marks a departure from previous restrictions which have mainly kept well-to-do buyers out of New Zealand’s real-estate hair since 2018. The policy, which gives foreigners residency in the country in exchange for these large property investments, will go into effect early next year, though the government also slightly alter the rules earlier this year. The Land of the Long White Cloud experienced quite the housing boom during the Covid-19 pandemic, but that has since cooled.
“Globally, New Zealand has a deserved reputation as a great place to live and we want to grow our economy,” Prime Minister Christopher Luxon said in a statement. “By opening our door just a little to allow significant investors to own a home, we will help attract more of those who want to contribute to the community and country.”
New Zealand homes are already in high demand for international buyers—especially for Americans, who view the nation as a safe haven from the political tumult stateside. There have been 491 golden-visa for a total of 1,571 people applications through December 15 (which may result in a NZ$2.9 billion boost to the economy); 37 percent of those applicants are American, Bloomberg reported. Many U.S. residents have already flocked many a spot in the nation, including Te Arai, a luxe golf resort.
Currently, about 7,000 of the country’s homes sit at that $3 million figure or more, making up just 0.4 percent of the market, according to Bloomberg. Of that group, a mere 350 could be listed throughout the year. So if you’re thinking of heading to the Land of the Long White Cloud, you better be prepared for plenty of competition.
