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Why billionaires are snapping up second homes in New Zealand

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telegraph.co.uk

The Luxury Travel Book. “It’s absolutely beautiful, the lifestyle is relaxed, the food and wine is excellent, the standard of living is very high and there is lots of space and privacy due to the small population.”Understandably fed up with foreigners buying up land they hardly intended to set foot on, which in turn was pushing up property prices for locals, Prime Minister Jacinda Ardern passed legislation in 2019 banning foreigners from buying property in New Zealand, unless they came from Australia or Singapore or could prove another connection with a country, like being married to a Kiwi.

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