scorecard
  1. Home
  2. finance
  3. Americans have started fleeing the country for New Zealand - here's how to buy a home there

Americans have started fleeing the country for New Zealand - here's how to buy a home there

Leanna Garfield   

Americans have started fleeing the country for New Zealand - here's how to buy a home there

new zealand

Ariel Schwartz/Business Insider

Aoraki Mount Cook National Park in Canterbury, New Zealand.

Since the inauguration of President Donald Trump last year, an increasing number of frustrated Americans have considered moving to seemingly idyllic countries like New Zealand.

More than 2,000 US citizens immigrated to New Zealand in 2017, with net migration growing 65% since 2016, according to The Financial Times. And about 17,000 Americans "registered an interest in studying, working, or investing in New Zealand" on its government's immigration website in November 2016, which was a 13-fold increase from the year prior.

The country may soon enact limits on what types of real estate foreigners can buy, however. In late 2017, the new Labour-led government vowed to fix New Zealand's housing crisis with several measures, including banning foreigners from buying existing homes or residential land there. The proposed law is a reaction to New Zealand's surging housing prices, which have increased more than 60% in the past decade amid a construction shortage and record immigration. It's still unclear whether the ban will pass, but if it does, it will take effect this year.

For now, sites like Homes.co.nz and Trade Me list properties for sale across New Zealand that foreigners can purchase. We've picked a few of our favorites, which you can check out below. But first, take a look at how to buy a home there.

Note: All prices are listed in USD.

READ MORE ARTICLES ON



Popular Right Now



Advertisement