Are you an overseas buyer looking to purchase property in New Zealand? While New Zealand, Australian, and Singaporean citizens can buy property with relative ease, other foreign buyers face restrictions—but that doesn’t mean it’s impossible. At MortgageLife, we specialize in helping overseas buyers navigate the rules, secure financing, and make informed investment decisions.
Can Foreigners Buy Property in New Zealand?
New Zealand’s foreign property ownership laws changed in 2018, introducing a general ban on non-resident buyers purchasing existing homes. However, New Zealand, Australian, and Singaporean citizens are exempt from this ban and can buy freely.
If you don’t fall into these categories, there are still ways to buy—though options are limited. You may be eligible to purchase:
- Government-approved apartments in large developments
- Hotel units under leaseback arrangements
- A home for personal use with Overseas Investment Office (OIO) approval
Understanding these restrictions and how they apply to your situation is critical, and expert guidance makes the process much smoother.
Why Invest in New Zealand Property?
New Zealand remains an attractive investment destination for overseas buyers. Here’s why:
- Long-term capital growth – Since 1992, Auckland house prices have increased by 6.9% per year, while other regions have averaged 6.2% growth annually.
- No stamp duty – Unlike Australia and Singapore, New Zealand doesn’t charge stamp duty when purchasing property, saving foreign buyers thousands.
- No capital gains tax – Unlike many other countries, property investors in New Zealand don’t pay capital gains tax.
- Competitive property prices – Standalone houses are often more affordable compared to international markets. For example, a four-bedroom home in Canterbury costs between NZ$750,000 and $800,000, significantly less than an equivalent property in Singapore.
These benefits make New Zealand an appealing option for investors looking for long-term financial gains.
Challenges for Overseas Buyers
While New Zealand’s property market offers significant advantages, foreign investors need to navigate a few challenges:
- Higher deposit requirements – Most lenders require 30-35% deposits for overseas buyers due to perceived risk.
- Strict lending criteria – Banks may not consider self-employed income or commission-based earnings when assessing mortgage applications.
- Additional documentation – Buyers in non-English-speaking countries may need official translations for financial records and tax statements.
- Limited property choices – Non-residents who are not from New Zealand, Australia, or Singapore can generally only purchase specific apartments, townhouses, or hotel units.
Expert financial advice and local knowledge can make a significant difference in overcoming these challenges.
Why Work with MortgageLife?
Buying property in New Zealand from overseas can be complicated, but with the right support, it becomes a straightforward process. At Mortgage Life, we provide:
- Specialist mortgage solutions for expats and foreign investors
- Expertise in Overseas Investment Office (OIO) requirements
- Connections with trusted legal and real estate professionals
- A clear, step-by-step approach to securing your property
With our tailored advice, overseas buyers can confidently invest in New Zealand’s property market without unnecessary hurdles.
Get Expert Guidance Today
If you’re considering purchasing property in New Zealand from overseas, MortgageLife is here to help. Contact us today to discuss your options and take the first step toward securing your investment.
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