This post was originally published on this site
New Zealand’s parliament has banned many foreigners from buying existing homes in the country – a move aimed at making properties more affordable.
The ban only applies to non-residents. Australians and Singaporeans are exempt because of free-trade deals.
New Zealand is facing a housing affordability crisis which has left home ownership out of reach for many.
Low interest rates, limited housing stock
This post was originally posted on BBC News. Read the rest of the story at https://www.bbc.co.uk/news/world-asia-45199034.