Looking to buy property overseas? These countries don’t want your money

New Zealand is the latest country to clamp down on foreign investment

TRD NATIONAL /
Sep.September 29, 2018 12:00 PM

(Credit: Seth Werkheiser, Casey Allen via Pexels)

If you’re looking to purchase property overseas, the options are becoming increasingly limited.

New Zealand is the latest country to clamp down on foreign real estate investment, citing concerns over dirty money and an affordable housing crisis, as the Wall Street Journal reports.

But several countries across Asia, Europe and even North America have adopted similar measures to cool off their booming housing markets in the past decade. Canada, the United Kingdom, Switzerland and New Zealand are just a handful of the nations to use instruments, such as tax hikes, reduced access to credit, and zoning, to curb the influx of overseas buyers and prioritize locals.

There are a few notable exceptions, however. The Maldives, which is heavily reliant on tourism, has cautiously welcomed foreign capital as a means of bringing more foreign direct investment into the country. [WSJ]–Patrick Mulholland


Related Articles

arrow_forward_ios

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

Joel Schreiber (Credit: Shir Stein and Wikipedia)

WeWork’s first investor used his stock as collateral. Now his lenders are suing him

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

The Daily Digest - Tuesday

NYC apartment prices hit 4-year low, Pacific Park developers reveal new plans: Daily digest

arrow_forward_ios