The ban on foreign buying in New Zealand took effect this week with experts saying it will unlikely temper incendiary home prices and improve affordability in the archipelago, "In the long run, rules for work visas and permanent residency are more important for Chinese buying in New Zealand than are foreign buyer restrictions," said Carrie Law, CEO of property portal Juwai.com which serves Chinese buyers of overseas property. "Most Chinese buyers are purchasing for their own use while living in New Zealand," she added, reports Property Report (24 October 2018)
