New Zealand's freshly elected government could implement rules banning foreign investors from buying existing New Zealand property, reports China Daily (20 October 2017). According to Jane Lu, Head of Australia and New Zealand for international property portal Juwai.com, foreign investors may rush to buy Kiwi real estate before the new rules are implemented, such as what happened in Australia and Canada when both countries imposed foreign buyer taxes. "They could cause buyers to front-load activity they already plan for next year," said Lu. "One premium buyer in Sydney closed his transaction 15 minutes to midnight before the new regime kicked in."
