Amid Housing Crisis, New Zealand to Ban Foreign Buyers
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New Zealand will ban foreigners from buying existing housing stock beginning in 2018, said newly elected Prime Minister Jacinda Ardern on Tuesday.
During her second meeting with the Cabinet of New Zealand, she and senior ministers of parliament agreed to restrict foreigners from buying homes as a way to curb speculation in the country’s real estate market and address the nation’s housing crisis, Ms. Ardern said in a statement Tuesday.
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Source : Amid Housing Crisis, New Zealand to Ban Foreign Buyers