Rich Americans Ready to Swoop In If New Zealand Relaxes Home-Buying Ban

Wealthy Americans eying New Zealand as a haven are hoping the government will soon relax a ban on house sales to foreigners, according to advisers.

Since New Zealand overhauled its golden visa program last month, there has been a surge of interest from would-be US investors, but the inability to buy a house in the country remains an obstacle, said Marcus Beveridge, managing director at Queen City Law in Auckland who specializes in foreign investment.