New Zealand seems to be dealing with some market problems at this time. The issue comes from foreign speculators that are constantly trying to make money off the market. And the problem is that locals are hardly finding the right models for them, so it’s crucial to optimize the market and cool it down as fast as possible.
There will be a bit of a hassle when it comes to doing that, but in the end the experience can be more than rewarding. The challenge is that prices have surged to the point where it’s very hard for younger persons to get a home here. The law change will obviously put a stop on buying more than a single building in a specific amount of time.
This is similar to other countries are doing in order to stop second hand car speculators as well. It’s know that rich people come to New Zealand and buy a home here to enjoy the beauty and richness of the region. But on the other hand, buying a single home doesn’t have a huge impact on the market. There are other things that do however, and people need to know how to deal with such a situation. Thankfully, the New Zealand market is going to get better and better in the near future if a law will regulate this.
The law will focus on restricting the non residents and non citizens to purchase existing dwellings. Note that this doesn’t extend to the new dwellings, so rich people or persons that want a new home here won’t be affected. But the law focuses on removing speculators from the market, something that tends to appear rather often at this point.
The law will also remove the need to have New Zealand residents sign up for the Trans Pacific Partnership. The new legislation was supposed to enter in effect this Christmas, but it may end up being even more helpful than expected. Being able to restrict people that just speculate the market can be rather problematic. It’s crucial to invest in something like this and the results can indeed be more than ok in the end. It’s an important approach to be had and the results can indeed be more than interesting in the long haul. Hopefully we will be able to achieve some great results in the long run!
- Shunfu Condo
- Margaret Drive Condo
- Highline Residences (Obtaining TOP soon)
- New Futura (Freehold Condo)