Lawmakers in New Zealand are hoping to combat soaring home prices and rising homelessness by banning nonresident foreigners from purchasing residential property in the country, reports Realtor Magazine (20 August 2018). "Foreign buying tends to be focused on new development, making it clear that foreign investment leads to the creation of new dwellings. That's vital in a market with a housing shortage like Auckland." says Dave Platter from Juwai.com.