Investing
New Zealand Clamps Down on Property Investors as Prices Soar
- Central bank to impose tighter mortgage lending restrictions
- Finance Minister says measures to curb demand are imminent
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New Zealand is clamping down on property investors in an attempt to rein in spiraling house prices.
The central bank said Tuesday it will reinstate mortgage lending restrictions on March 1 and tighten them further for investors from May 1. Finance Minister Grant Robertson also said today the government will unveil measures soon to curb housing demand, “particularly from those who are speculating.”