Saturday 17 November 2018
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inquirer - 3 month ago

New Zealand bans most foreigners from buying homes

Wellington --- New Zealand has banned most foreigners from buying homes as it tries to tackle runaway housing prices. The government on Wednesday passed legislation that allows only New Zealand residents to buy homes as it attempts to improve housing affordability and increase the rate of home ownership. Previously the housing market was open to investors worldwide. The new law fulfills a campaign pledge by the liberal-led government which came to power last year. There are some exceptions to the new rul

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