Are you buying a house in New Zealand?

Are you falling in love with New Zealand? If yes, then you might be thinking about how to invest in Real Estate there, this is becoming a huge business.The rules for foreigners building and buying a residential property in New Zealand has changed: only the citizens and residents of the country can buy home at the beautiful land. Nevertheless, there are lots of investment opportunities in New Zealand, and we’ll tell you some tips about it.
Buy a property in New Zealand

Understands rules and restrictions to Buy a property

Recent changes in New Zealand laws produce some restrictions that enable you to purchase property as a foreigner. So, it is important to learn about these rules and look at the factors that enable you to think about what you can do and what you are not allowed. We compile amazing information in this article to help you in starting your investment.

About buying a property:

The first thing that you consider is What type of property you want to invest?

Once you are ready, you will find that the buying process is well-regulated and well-organized for ensuring the fair process. It can take somehow 3-4 weeks for completing the property purchasing after selecting your property.

Properties are available in New Zealand for purchase

In 2018, after the emergence of the “Overseas Investment Amendment Bill”, there are lots of restrictions that were placed for foreigners who want to purchase property in New Zealand. If you want to live in the country permanently, you will never face the restrictions faced by the foreigners. With the emergence of the Real Estate market, you can easily find out single-family homes as well as apartments. You can also purchase land which can be used for building a home, in case when you are unable to find any perfect home.


New Zealand is such a beautiful place. Some of the most desirable and wonderful properties are located in the following destination:
  • Christchurch
  • Auckland
  • Wellington
  • Tax charged by Local councils
When you are researching to buy a property, you will need to include some government tax in your budget. Rates , the tax may vary but it is always based on the property value.
  • Restriction for Foreign property buyers in NZ
Foreigners are somehow restricted to purchase any property in New Zealand since 2018. These rules were made to resolve house shortage issues and also help to keep housing prices from soaring. Don’t worry anymore. These restrictions may not apply to everyone.
  1. If you hold an Australia or Singapore citizenship, then you will be treated just like the permanent Citizen of NZ, when you come to buy property. You will not have any restrictions on real estate investment.
  2. If you are a NZ Citizen, then you can easily invest in real estate in the country.
  3. If you are a tax-resident or permanent resident of New Zealand and live for a minimum of one year, then you don’t have any restrictions on real estate investments.
  4. If you are investors from abroad and interested in making a small investment in an apartment or hotel block, then you will easily do it under the new law.
  • Borrowing:
Home loans are available from major trading banks in New Zealand. You can easily contact them. Many banks offer migrant banking services with a multilingual team. As a new arrival, an individual would not have a credit history. So, make sure you bring some evidence of the credit history of your own country. BFX Money Transfer can offer you the best payment solution to send money to New Zealand to secure your investments.
  • Insurance:
Home or property insurance is calculated on the sum insured basis. provide you more detail about the insurance policy of Real Estate in New Zealand. Earthquake damage to property in New Zealand is usually covered by the “Earthquake commission”. The charges of the insurance will be added to the home or property insurance value. It is very important to check the details of the insurance before making your final purchase.

Things to consider

Before purchasing the property, we recommend that you speak to an independent legal advice. Finding out the right lawyer is important in the buying process. The lawyer will make sure that all legal processes should be properly followed. After finding your solicitor, you start your research. Everyone has their own way of searching the property. You can download the free app to looking for properties near you. You can search listings on Real Estate, Hou Garden and Barfoot & Thompson. It is always a better idea to get information about the property you are interested in. Inspection of property is necessary because it can give you more valuable information within no time.

Checklist of buying a property in New Zealand

There is a huge number of factors that should be considered while buying a property or a house in New Zealand. Some of the things that you should consider are given below:

  • Consider on which place you want to live
  • Is the property being near to other important facilities like school, hospital, etc.?
  • Are the rood and building of the property is structurally sound?
  • Are there any symptoms of termite activity?
  • Is the property being at risk of flooding?
  • Where are the official boundaries of the property?
  • Will you need any renovation?
  • Any nearby planned developments?

Reasons for changing investment laws in New Zealand:

The Government of New Zealand says that change the investment laws are designed to stop the foreign speculators buying properties that would be available for New Zealanders. It is an attempt to make housing affordable because foreign buyers are responsible for up prices.

According to Associate Finance Minister.

"It was the birthright of the New Zealanders to purchase the home at a fair price."
"Government believes that citizens of the country should never be outbid by the wealthier foreign buyers."

David Parker

The law states that the market for home is set in New Zealand, not on any international market.

Budget is required for purchasing property

If you are ready to make your purchase in Real Estate, consider the fact that you will require a large amount of budget. The budget will depend on many things like the type of property you want to invest and the location of purchasing a certain property.

It is very important to double check what is your budget and then make your final purchase. The median price of a home or property investment in New Zealand is USD 361,000. But in the case when you try to find a location in a beautiful major city like Auckland, then the median price will be more i.e. 547,000 USD.

How to make payments?

After looking at the rules that are related to the real estate investment in New Zealand, you can easily determine whether you are eligible to purchase or not. After making your final decision, you need to make your payments to the certain property you buy.

You can use BFX Money Transfer services to make your payment. You can be assured that the money will be securely transfer from your own bank account to the required destination of New Zealand. BFX has the best payment solutions to your needs.

FAQs related to buying a property in New Zealand:

New Zealand is a great place to live and enjoy plenty of moments in your life. If you are not a permanent citizen of New Zealand, then you will require consent under the “Overseas Investment Act” for purchasing the property.

a) Do I need consent for purchasing land?

There are large factors that play a significant role in purchasing property in New Zealand. Consent under the act of Overseas investment is required for those people who want to buy more than five hectares of non-urban land.

b) How do I obtain consent?

If you want to obtain consent, then you will need to apply to the OIO (Overseas investment office) for approval. This application procedure is a little bit complex and it involves the need of a large range of information. It is a lengthy process even after the system Updating by OIO. Professional advice is needed in doing application procedures.

c) Duration requires

There is no timeframe for considering OIA application. The time frames may vary depending on the complexity. The simple and straightforward application maximum takes 4-6 months to complete. It gives you maximum time to ensure agreement of sale and purchase of your property.

d) How much does it cost?

Application fees may range from $22,500-$49,000. It depends on the level of investment and the nature of your application. You may require some professional advice and assistance. Before making a buying decision, make sure to consider your budget too.

e) Personal information

The key aspect of gaining OIA approval is the better character test which all investors should meet. It is important to be prepared for disclosing all of the relevant information that is relevant to the OIO.


If you are thinking about your to move to New Zealand, then a large factor should be considered in mind. New Zealand always ready to offer your friendly locals, amazing culture, plenty of amazing destinations and natural landscapes. These are a few things that capture the attention of other people to make their living adjustments . Investing in property seems to be challenging but after know-how about the rules as mentioned above, you will soon become a property owner in New Zealand. With proper legal suggestions, verification of relevant information and scrutiny of documents about a property, the buyer will ensure that the investment always brings better peace of mind and a sense of security. I hope you will enjoy this article because it will cover all the considerations that needed to buy a property in New Zealand. Stay blessed and have a nice journey to your dreamland.


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