New Zealand Prime Minister, Jessinda Ardarn, has announced that the foreigners have been prohibited from buying homes in New Zealand. The ban will come into force from 2018. However, the ban does not apply to the Australians. She said that the decision was taken because the foreigners mostly bought houses in New Zealand. “We are making homes easier for New Zealanders. Foreigners are buying houses here and stop raising prices, “said Ardrine through E-mail..
Australians are the exceptiofrom from this ban. There are more New Zealand people living there. She said that Australia was exempted from this background. Almost 50 percent of the prices have increased as foreigners bought homes here. In Auckland, prices are double. The central bank believes that the rapidly rising prices will have an impact on the economy. Ardurn revealed that the bill on the ban will be introduced in the New Zealand Parliament on December 25.