New Zealand's Overseas Investment (Build to Rent and Similar Rental Developments) Amendment Bill passed its first reading, aiming to increase housing supply.
New Zealand's Overseas Investment (Build to Rent and Similar Rental Developments) Amendment Bill has passed its first reading, aiming to increase the country's housing supply. The bill amends the Overseas Investment Act, creating a streamlined consent pathway for investors to purchase land for new Build to Rent developments or existing ones. The coalition government remains committed to banning overseas investment in existing residential housing, unless the investor is eligible for a consent. The bill has been referred to the Finance and Expenditure Committee for further examination.
June 26, 2024
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