The New Zealand Government has recently announced a major change to its overseas buyer rules, creating a new opportunity in the country’s property market. From now on, selected overseas investors will be able to purchase residential properties in New Zealand, but only if those properties are worth more than $5 million.
While the rules for the broader market remain in place, this update has significant implications for sellers in the luxury space. If you are considering selling a high-end property, this is a development worth paying attention to.
A targeted shift in policy
Since 2018, New Zealand has enforced strict limits on overseas buyers, preventing most non-residents from purchasing existing homes. The intent was to protect housing affordability and prioritise New Zealanders in the local property market.
The latest change introduces a carefully targeted exemption for a very small group of high-net-worth individuals, those who hold New Zealand’s Active Investor Plus visa, often referred to as the “golden visa”.
Under the new rules, these investors can:
- Purchase or build one residential property in New Zealand,
- With a minimum value of $5 million NZD,
- Without needing to meet the previous residency requirements that forced them to spend a set amount of time living in New Zealand.
By limiting the exemption to the top end of the market, the Government has ensured that everyday affordability remains protected. Less than 1% of New Zealand’s housing stock is valued above $5 million, with most located in premium suburbs such as Herne Bay and Remuera in Auckland, and luxury destinations like Queenstown and Wanaka.
What it means for the luxury property market
For sellers of high-value property, this change could be transformative. The pool of potential buyers at this level has always been relatively small within New Zealand. With the international market now reopened, sellers may find their homes attracting renewed attention from wealthy overseas investors.
Luxury homes often appeal to a global audience. Expats looking to reconnect with New Zealand, investors seeking lifestyle properties in safe and stable countries and international buyers drawn to our unique landscapes and quality of life may now see a pathway to purchase that previously did not exist.
This could result in:
- Increased competition for top-tier properties, as local and overseas buyers vie for rare listings.
- Greater visibility for luxury listings, as international interest adds another dimension to marketing campaigns.
- Potential price resilience at the upper end of the market, with new demand providing additional support.
It’s important to note that the impact will be felt in select locations only. High-value areas such as central Auckland, Queenstown Lakes, Waiheke Island and certain coastal or lifestyle regions are likely to see the greatest benefit.
The importance of choosing the right partner
Selling a property at this level is unlike any other real estate transaction. Luxury homes are unique, with distinctive architectural features, prime locations and bespoke finishes that set them apart. They also appeal to a highly selective audience - one that requires strategic, tailored marketing to reach effectively.
This is where working with an experienced real estate partner is essential. At LJ Hooker, we bring together:
- Local expertise with global reach — our established New Zealand network is supported by strong connections across Australia and beyond, helping your property reach both local buyers and eligible overseas investors.
- Premium marketing strategies — from high-end photography and video to targeted digital advertising and international exposure, we know how to showcase luxury homes at their best.
- Trusted negotiation skills — high-value sales require discretion, professionalism and the ability to manage complex negotiations. Our salespeople are equipped to deliver the best possible results for you.
We understand that selling a property worth $5 million or more isn’t simply about finding a buyer. It’s about positioning your home to attract the right interest, creating a campaign that highlights its uniqueness and ensuring that every step of the process is handled with care.
Why act now?
Markets shift, policies change and buyer confidence rises and falls with economic conditions. Right now, the combination of declining interest rates, improved buyer sentiment and this new overseas buyer exemption makes it a particularly opportune time for sellers in the luxury segment.
With a new pool of international investors now eligible to buy, sellers have the chance to access fresh demand - demand that could translate into stronger competition and premium results. For homeowners considering whether now is the right time to sell, this change adds another compelling reason to bring your property to market.
The new exemption allowing overseas investors to purchase homes over $5 million won’t change the everyday housing market but it could reshape the very top end. For sellers of luxury property, this creates an exciting opportunity to reach a broader and more diverse audience of buyers.
At LJ Hooker, we’re here to help you make the most of it. With our combination of local knowledge, international connections and proven expertise in high-value transactions, we’re the ideal partner to guide you through the process and achieve an exceptional outcome.
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