Can overseas buyers purchase houses in New Zealand?

Under the Overseas Investment Act 2005, and the changes made in 2018, most overseas persons are prohibited from buying existing residential property, meaning that a person who is not a New Zealand citizen or resident may generally not buy a house or residential land without consent, and consent is rarely granted for homes to be used as a residence. Exceptions include citizens and residents of Australia and Singapore under free trade agreements and persons who are ordinarily resident in New Zealand, with special rules for certain investors and for developments that add to housing supply. The rules have been adjusted in recent years, so check the current position with Land Information New Zealand's Overseas Investment Office. Purchasing without the necessary consent can lead to serious penalties, including orders to sell. Get legal advice before signing any agreement.