New Zealand Prime Minister Jacinda Ardern announced a potential move to ban foreign speculators from buying New Zealand existing properties, reports the South China Morning Post (26 October 2017). The policy – aimed at foreign buyers who have flooded the New Zealand market in the past few years and priced out local buyers – may spur a rush from foreign buyers instead, though. Jane Lu, Head of Australia and New Zealand for international property website Juwai.com said foreign buyers tended to fast-forward plans to purchase overseas when new restrictions or taxes loomed.
