New Zealand restricts residential property purchases by overseas persons. What changed on 6 March 2026, and what didn't.
⚠️ This entry contains figures or rules that change with government policy or RBNZ settings. Check the current position at the source link below before relying on it.
The Overseas Investment Act 2005 regulates the acquisition of sensitive New Zealand assets, including residential land, by overseas persons. Since 2018, most overseas buyers have been prohibited from purchasing existing residential property.
New Zealand citizens, New Zealand residents who are "ordinarily resident" here, and Australian and Singaporean citizens and permanent residents. Everyone else requires Overseas Investment Office consent.
"Ordinarily resident" generally requires a residence class visa, at least 12 months' residence, and 183 days' physical presence.
The Overseas Investment (National Interest Test and Other Matters) Amendment Act created a narrow new pathway. Holders of an Active Investor Plus (AIP) visa — the "golden visa" — or the former Investor 1 or Investor 2 resident visas may now purchase or build one residential property valued at more than NZ$5 million, without first becoming ordinarily resident.
Conditions still apply: OIO consent must be obtained, applicants must pass good character and health requirements, and the OIO assesses national interest. Decisions are generally made within about five working days. Application fees are NZ$2,040 for an existing home over $5m, and NZ$3,500 in other cases.
The AIP visa itself requires either NZ$5 million invested over three years (Growth category) or NZ$10 million over five years (Balanced).
This is not a general easing of the foreign buyer ban. The broader prohibition on overseas persons buying existing New Zealand homes remains fully in force. The new pathway is limited to a specific group of investor migrants, one property each, at the very top of the market — and it cannot be used to build a rental portfolio.
An agreement must be conditional on OIO consent. Signing unconditionally before consent is granted is an unlawful act under the Act, with penalties and a potential requirement to divest. At auction, pre-approval must be obtained before bidding.
Headlines describing this as "New Zealand reverses its foreign buyer ban" overstate it considerably. For virtually every overseas buyer, nothing has changed.
Last reviewed: 1 August 2026 · General information only, not legal advice.
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