New Zealand has announced a on foreigners buying . It said the ban would begin in early 2018. The measure is to tackle the country's housing . For the past decades, overseas buyers have been buying houses as or for holiday homes. This has increased for homes, which has seen house prices . Prices have risen by more than 50 per cent in the last . New Zealanders are angry about the inflated they have to pay to buy a home. Many have simply been priced out of the market and cannot afford to get on the housing .
The government is determined to end investment increasing house prices. It wants to make it for Kiwis to buy their first home. It said: "We are stopping speculators buying houses and driving up prices. Kiwis should not be outbid like ." Overseas investors will still be able to buy . The government said the changes would not stop non- from buying land. It stated: "Our has always been that if you're adding to …then you will be able to build." It hopes the ban will "take some of the " out of the property market.
