Kia ora,
I read with interest the story published on the Indian Weekender website about whether migrants with residence class visas can buy homes in New Zealand.
It was disappointing to read about the bad experience Aakansha and Jayant had when they tried to buy their first home.
As your readers will know, the Government made changes last year to who could buy homes in New Zealand. Some overseas people can buy one home and live in it if they meet certain criteria and get permission from the Overseas Investment Office.
The Overseas Investment Office is responsible for reviewing which overseas people can or cannot buy homes to live in in New Zealand.
As it said in the story, Aakansha and Jayant are eligible to buy a home in New Zealand and did the right thing by getting consent from the Overseas Investment Office.
They meet the criteria because they have a residence class visa and they’re tax residents. The new rules also require permanent residents to have spent a certain amount of time in New Zealand.
However, some developers and affordable home programmes have different criteria. We encourage anybody buying a home in New Zealand to carefully check what special requirements developers or affordable home programmes have in place.
We have more information on our website about who can buy a home in New Zealand www.linz.govt.nz/overseas-investment/information-for-buying-or-building-one-home-live
To find out if you’re eligible to buy a home in New Zealand try this useful toolwww.newzealandnow.govt.nz/living-in-nz/housing/buying-building
If you have any questions about whether your eligible to buy a home in New Zealand you can email the Overseas Investment Office at oio@linz.govt.nz.
Kind regards,
Vanessa Horne
Group Manager of the Overseas Investment Office