The National Party’s foreign buyers policy, which would allow overseas buyers to purchase property worth over $2 million dollars provided they pay a 15% tax, has caught the eyes of billionaires across the world.
Caleb Paterson of real estate agency Paterson Luxury, says news of the policy reached buyers in offshore markets almost immediately, triggering a surge in calls to the firm.
“There has been pent-up demand from our international clients who have been unable to access New Zealand property for the past six years, and they are highly motivated to seize this potential opportunity.”
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