Pokapu, a 6,555-square-foot (609-square-meter) home for sale near Queenstown.
Photographer: Zee Dichev/ImageWorks via New Zealand Sotheby's International Realty
All the World's Billions Can’t Buy This New Zealand Home for Sale
New Zealand was a favored destination for US super-rich doomsday preppers before foreigners were banned from purchasing homes in 2018. With the economy now in a slump, sellers are hoping the government will relax the rule.
It’s exactly the type of luxury bolthole favored by the global elite. Far from the rest of the world, but with easy access to first-class skiing, golf and vineyards. Offering total privacy, but just minutes from an international airfield. Rustic but modern, and with its own lake.
The only problem is the property is in New Zealand, which has one of the world’s toughest bans on foreigners buying residential real estate. Entry to this exclusive club is barred to all but citizens and tax residents of the country, which has a population of about 5 million. The only exceptions are Australian and Singapore citizens, due to pre-existing trade agreements.