New Zealand Delays Foreign Home Buyer Law Until 2026

New Zealand has postponed changes to its foreign home-buyer rules, delaying legislation that would allow holders of the Active Investor Visa Plus (AIP) to purchase or build homes valued at more than NZ $5 million (about US $2.8 million).

The Bill, now at its second reading in Parliament, will not progress to final passage until the first half of 2026, pushing decisions for prospective buyers and sellers into the new year and breaking earlier political assurances that the law would be finalised this year.

If passed, the reform would permit AIP visa holders to acquire or construct a single home worth NZ $5 million or more in addition to the required AIP investment, which remains at a minimum of NZ $5 million. Since 2018, only citizens, tax residents, and Australians or Singaporeans have been able to buy residential property freely, and until the Bill becomes law that status quo remains.

Local media estimate that there are just under 10 000 properties nationwide valued above NZ $5 million, about 7 000 of which are ready to live in, with most located in Auckland and Queenstown Lakes. Sales at that level make up roughly 0.2 per cent of annual transactions.

Industry professionals say the delay leaves the market steady but signals an eventual opening at the ultra-premium end.

Mischa Mannix-Opie, Director of Client Experience at Greener Pastures New Zealand, described the reform as “a meaningful signal” that restores visibility for ultra-wealthy families considering residency.

She said most serious AIP investors choose New Zealand for lifestyle, safety and long-term stability, not speculative property gains.

“The ability to buy a NZ $5 million-plus home simply rounds out the AIP offering – long-term residency plus a place to live – but it’s unlikely to affect affordability,” she said.

James Hall, Director of ANZ Migrate, agreed that the practical impact will be minimal.

He noted that AIP holders already living in New Zealand can buy property under current settings, so the exemption mainly applies to offshore applicants. “It will draw attention but, in reality, it’s mostly noise,” he said.

For the luxury market, the deferral keeps high-net-worth buyers and their advisers waiting until mid-2026 to see whether the change is ratified. But for now, the message from Wellington is unchanged – foreign access to New Zealand’s housing market will remain tightly controlled, even at the very top end.

This article was independently written and edited by Real Estate Today New Zealand. All information was drawn from public records, parliamentary proceedings and verified industry commentary. © Real Estate Today New Zealand 2025 – All Rights Reserved New Zealand’s most influential real-estate news platform for real estate professionals.