NZ bans sale of homes to foreign buyers | WHAT REALLY HAPPENED


NZ bans sale of homes to foreign buyers

A landmark bill banning overseas buyers from purchasing existing Kiwi homes has passed into law.

Associate Finance Minister David Parker said the bill's passage was a significant milestone, and would stop New Zealanders being outbid by wealthier foreign buyers.

Parker said it demonstrated the Government's commitment to making the dream of home ownership a reality for more Kiwis.

“We should not be tenants in our own land," he said.

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