The New Zealand housing market slumps by 30 percent but the proportion of home transfers to foreigners remained steady, according to an article in The Diplomat (7 August 2020). Georg Chmiel, executive chairman of Juwai IQI, said that there has been an increase in the proportion of home transfers among foreign buyers - anyone on a resident visa or without such a visa - already residing in the country. Chmiel said that foreign buyers accounted for a greater share of all transactions in the second quarter than at any time since the fourth quarter of 2018. “The latest official data shows that foreign buyers on resident visas or without such a visa accounted for 9.1 percent of all transactions in the June quarter,” he said. “Despite the very difficult conditions, foreign buyers maintained their market share during the pandemic. It is all the more impressive given the travel restrictions and other obstacles they faced.”