New Zealand has passed a law restricting the sale of houses to foreigners

The Parliament of New Zealand passed a law that restricts the sale of houses to foreign citizens, requiring them to first obtain approval from the local Office for Foreign Investments, proving the profitability of such a deal for the country. The new rules will not apply to citizens of Australia and Singapore. The poll of 2017 showed that 72% of New Zealanders supported tightening control over the transfer of land to foreigners. The Financial Times reported that house prices in New Zealand in the last 10 years have grown by 60%, and the share of landowners among the population has fallen to a minimum in 70 years.

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