New Zealand is planning to ban foreign buyers from buying existing homes. It does this to prevent the housing price going up quickly because many foreigners are rushing into the country to buy houses there.
The policy announced by the next prime minister, Jacinda Ardern, is likely to be closely watched by other countries around the world also facing housing shortages and price rises driven by foreign investors. At 37, Ardern has become New Zealand’s youngest leader for 150 years.
New Zealand has become a destination for Chinese, Australian and Asian buyers and has become a bolthole for the world’s rich people, who view it as a safe place from a possible nuclear conflict, the rise of terrorism and civil unrest(动乱).
The country has become a popular place for rich Americans seeking an escape from political unrest, who view it as a stable nation with robust laws and far from possible conflict zones. Peter Thiel, the co-founder of PayPal and a Facebook board member and donor to Donald Trump’s campaign, is among those to have bought a house in New Zealand. Jack Ma, the man behind Alibaba, China’s answer to Amazon, is also reported to have shown interest in buying a home there.
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