New Zealand will allow wealthy foreigners to buy luxury homes under golden visa scheme

New Zealand has announced it will allow wealthy foreign investors to purchase high-value homes, easing earlier restrictions in a bid to attract more capital and boost the economy.

Prime Minister Christopher Luxon said on Monday that investors holding the foreign investor migrant visa, reintroduced in April, can now buy or build one residential property if it is valued at a minimum of NZ$5 million (USD 2.94 million). Earlier, visa holders who did not reside in New Zealand for at least six months a year were barred from buying property.

“This change navigates a path between those who do not want foreign ownership opened up, and the desire to attract high net worth investors by deepening their connection to our country to help grow the economy,” Luxon stated.


The move is part of broader efforts to attract foreign investment after the economy slipped into recession in late 2024 and remained weak in the first half of 2025. In April, the government also reduced the minimum investment required for the “Active Investor Plus” residency visa to NZ$5 million from NZ$15 million and removed the English language requirement.

Authorities said 301 applications for the visa have already been received, representing a potential inflow of NZ$1.8 billion if approved.

Foreign ownership of property has long been sensitive in New Zealand. A 2018 law barred most non-resident foreigners from purchasing existing homes, amid concerns of rising house prices. Luxon clarified that less than 1% of homes fall into the NZ$5 million bracket, calling the move a balance between investor needs and local concerns.

Industry voices welcomed the change. Mischa Mannix-Opie of Greener Pastures, which assists investors with residency applications, said the new rule would appeal to clients. “It really enhances the proposition,” she said, noting that lifestyle remains a key factor attracting investors to New Zealand, and the option to own a home strengthens that appeal.