New housing laws and how it affects you

New housing laws and how it affects you

by admin November. 14, 15 3 Comments

The four laws being passed are mainly affecting both local and foreign investors they are;

  1. 30% deposit required for any home that you are not living in.
  2. IRD number required for all foreign investors
  3. NZ bank account for all foreign investors
  4. Taxed on property sold within 2 years of purchase

The good news is that if you are homeowner selling and wanting to buy a new home none of the new laws would affect you. This also means you may get a very good deal on your next personal home whether it’s an upgrade or downgrade.

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