New Zealand reverses course to let some foreign investors buy homes

New Zealand on Sept. 1 said it will open its housing market to wealthy foreigners investing in local businesses, reversing a ban in expectation it will boost growth.

Prime Minister Christopher Luxon said investors on the foreign investor migrant visa reintroduced in April could buy or build one home if it costs at least 5 million New Zealand dollars (¥440 million). Previously, those on the v