New Zealand Golden Visa: A guide for UK residents
Thinking about relocating or investing abroad? Read our essential guide to find out how the New Zealand Golden Visa works for UK nationals.
Buying property in New Zealand as a foreigner: Complete UK guide (2026)
Dreaming of a new life in New Zealand? If you’re planning a big move from the UK, you might want to look into buying a property - even if you’ll be renting at first.
Alternatively, you might be looking for a holiday home, or perhaps you’d like to buy an investment property over there.
Whichever is the case, read on. We’ve put together a complete guide to buying property in New Zealand as a foreigner.
This includes what to expect from the buying process, the latest New Zealand property prices, info on mortgages, fees and taxes, and the pitfalls to avoid.
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Can UK foreigners buy property in New Zealand?
Foreign nationals can buy property in New Zealand, but you’ll usually need to have a New Zealand residence visa and be living in the country most of the time. You won’t usually be able to buy property as a non-resident.¹
If you’re not yet living in New Zealand but plan to once you’ve bought a home, you may need to get consent for your purchase from Toitū Te Whenua Land Information New Zealand (LINZ).¹
You’ll only be able to buy a house or land that is classified as ‘residential’ or ‘lifestyle’, and you can’t buy land classed as ‘sensitive’ without Overseas Investment Office (OIO) consent. This includes land on islands, next to a beach or in a conservation area.¹
There are some exceptions to these rules, but it can be complicated. The New Zealand Immigration website has a handy LINZ eligibility tool to assess whether you can buy property in NZ for assessing your housing situation and providing information.
Can you buy property in New Zealand and get residency?
No, there’s no direct route to residency in New Zealand through the purchase of property. In fact, it’s the other way around - you need to get residency before you’ll have permission to buy a home.
New Zealand used to offer an investor visa, which granted residency for overseas nationals making a minimum investment in a New Zealand business, bond, equity or other investment. Real estate investments were also considered valid under the terms of the visa.
However, this visa closed to new applications in 2022. It was replaced by a new Active Investor Plus visa, but property is not included on the list of valid investment types.
| 📚 Read more: Countries that offer citizenship by investment visa |
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What’s the real estate market like in New Zealand?
The New Zealand property market is showing signs of recovery, after a recent downturn. Consumer confidence is gradually improving and borrowing costs are more affordable.
House prices did drop by 1.82% in Q1 2025, compared to the year before. However, the pace of decline has notably slowed. Some regions considerably outperformed national averages, with the West Coast property market experiencing a 35.5% year-on-year rise in property prices in the same period.²
Experts are also predicting that prices will rise steadily through to 2027.²
For buyers, it means that location is key. You may be able to snap up a dream home to live in for less - compared to boom prices a few years ago - but you’ll need to buy in the right area if you’re looking for an investment property.
If you’re buying a property to rent out, it’s useful to know that average rental yields in New Zealand are 3.99% (as of July 2025).²
Is property a good investment in New Zealand?
Weighing up whether New Zealand is a good place to buy property abroad? Here are some pros and cons to consider.
Pros:
- No stamp duty or other transfer taxes, lowering the upfront costs for buyers
- Good rental potential - with moderate rental yields and high demand in many locations, due to a growing population
- A stable, well-regulated economic environment
- Opportunity for steady capital appreciation - as analysts predict prices will rise gradually in the short term
- The cost of living in New Zealand is a little lower than the UK, along with house prices - so your money goes further.
Cons:
- Many restrictions for foreign buyers, including the residency requirement
- New Zealand’s property market has experienced a downturn recently, which could mean lower long-term appreciation and ROI for investors
- High home insurance costs - due to the risk of natural hazards and other factors, New Zealand has some of the highest home insurance premiums in the world
- Mortgage conditions may be stricter and harder to meet for foreign applicants, and you may need a larger deposit.
How much are the property prices?
So, how much is property in New Zealand? This is an essential thing to know as you set your budget and start your search.
On average, New Zealand property prices are around 7% and 19.5% lower than in the UK, depending on whether you buy inside or outside of a city centre.³
If you're wondering where to buy a home in New Zealand, here are the median house prices across major cities for reference:²
| Region | Average house price (NZD) |
|---|---|
| Northland | $635,000 |
| Auckland | $990,000 |
| Waikato | $735,000 |
| Bay of Plenty | $822,000 |
| Gisborne | $587,000 |
| Hawke’s Bay | $700,000 |
| Taranaki | $620,000 |
| Manawatū-Whanganui | $530,000 |
| Wellington | $760,000 |
| Tasman | $739,000 |
| Nelson | $700,000 |
| Marlborough | $750,000 |
| West Coast | $420,000 |
| Canterbury | $675,000 |
| Otago | $720,000 |
| Southland | $502,500 |
However, it very much depends on exactly what and where you buy, along with other factors.
And, if you’re arranging your property purchase from the UK, you’ll need a safe, reliable and preferably low-cost way to send over fees, deposits and other payments.
The Wise account could be a great solution, with transparent, low fees, and multiple layers of security, so you can safely transfer large amounts both in the UK and overseas.
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Where is the cheapest place to buy property in New Zealand?
The regions of Manawatū-Whanganui, Gisborne and the West Coast tend to be cheaper in terms of property prices than other areas like Auckland.
If you’re interested in buying in a major city, Invercargill and Christchurch are affordable options.
Best places to buy property in New Zealand
The best place to buy property in New Zealand all depends on why you’re buying.
If you’re looking to move to New Zealand as an expat, a major city like Auckland or Wellington will offer all you could want in terms of lifestyle, culture, job opportunities, amenities and connections to the rest of the world.
For rental potential, you may find the best balance of affordable property, demand and healthy yields in places like Invercargill, Rotorua, Whanganui and Palmerston North.
If you’re looking for a holiday home, you’ll find some of the best scenery in the Coromandel Peninsula and Lake Taupo areas.
Looking to retire abroad? The Bay of Plenty region is a popular spot for expat retirees thanks to its sunny climate and coastal lifestyle.
How to search for a property in New Zealand
If you’re new to the New Zealand property market, it could be worth using a specialist real estate agent to help you find the right property.
They’ll have knowledge of the local market and can guide you through the buying process. This service is likely to come with a fee, however - and you’ll need to check that any agent you use is licensed by the Real Estate Authority (REA).
You can also start the search online yourself, using one of these New Zealand property websites and portals:
What to check before you buy
Here’s a quick list of important things to check before you buy property in New Zealand:
- That the land is zoned as ‘residential’ or ‘lifestyle’, and not ‘sensitive’
- Whether you need to apply for consent for your purchase from Toitū Te Whenua Land Information New Zealand (LINZ)
- Your solicitor will need to verify the legal and registry status of the property before you enter into any legal agreement
- If you’re buying land - that it has clear boundaries, proper registration and the right to build. Planning restrictions can affect your construction or renovation plans.
You may also want to have a building survey carried out. While not mandatory, this could help to flag up any structural or other issues which could be expensive to fix.
How to buy property in New Zealand as a foreigner - a step-by-step guide
Now, let’s run through the steps involved in buying property in New Zealand as a foreigner:
1. Get your finances in order
Before you do anything, it’s crucial to get your finances in order. You need to set your budget, get a mortgage offer in place and define exactly what you’re looking for.
You may also want to open a New Zealand bank account, as this can make transactions easier (especially in relation to mortgages).
2. Find a property and arrange viewings
Now it’s time to start searching for your dream home. You can use online property portals and/or local estate agents to find properties.
If you’ve found somewhere you like, arrange a viewing as soon as you can, and start researching the area in the meantime.
3. Appoint a solicitor
While it’s not mandatory, it’s a good idea to find and appoint a property lawyer. They will check over and translate all documents and contracts, as well as carrying out due diligence and generally acting in your interests throughout the transaction.
A personal recommendation is a good way to find a solicitor, but you can also find a list of English-speaking property solicitors on the UK Government website.
Whoever you appoint, make sure they’re licensed by the New Zealand Law Society or the New Zealand Society of Conveyancers.
4. Research the property and get a survey
Before making an offer, it’s important to read the Land Information Memorandum (LIM), which provides a summary of key property information. You should also instruct your solicitor to do a title search, which can provide more information. Lastly, use the property checker tool on the government’s Settled.govt.nz website.⁷
At this stage (and especially if you have concerns about the property) you might also want to book a building survey. This involves hiring a surveyor to check the property for structural or other issues.
If the survey flags anything up, you may be able to negotiate on price.
5. Make an offer
The offer process can vary depending on the method of sale chosen to sell the property. For example, it could be a multi-offer process where more than one potential buyer has submitted an offer in writing. The seller will choose the best one. In this case, you need to put your best offer forward first, as you may not have an opportunity to increase it.
If your offer is conditional on a property inspection being carried out, you can arrange this and then finalise the offer after you get the results.
6. Sign the sale and purchase agreement
Once your offer is accepted, the next step is for both parties to sign the sale agreement. This makes the offer legally binding.
You’ll also need to arrange a transfer to pay the deposit, which in New Zealand is usually around 10% of the total sales price.⁴
Consider using the Wise account here to convert your pounds to New Zealand dollars, avoiding hidden fees and getting the mid-market exchange rate.
7. Work towards completion
Now it’s time for your solicitor to complete the necessary legal paperwork to complete the purchase. This involves:
- Completing all legal work, paperwork and due diligence checks
- Ensuring all taxes and fees are paid
- Finalising and transferring the title deeds for the property
- Registering the purchase with the land registry (Toitū Te Whenua Land Information New Zealand), with the new title deed registered in your name.
Once all of this work is complete, you’ll sign the final documents, transfer the remaining balance and get the keys to your new New Zealand home.
| 📚 Read more: How to transfer money from the UK to buy property overseas |
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How long does it take to buy a property?
Buying property in New Zealand is usually pretty quick. In fact, it can take as little as 3 to 4 weeks for straightforward transactions.⁵
Fees and costs of buying property in New Zealand
Here are the main fees and taxes for buying property in New Zealand, which you’ll need to factor into your budget:⁶
| Fee/tax | Amount (NZD) |
|---|---|
| Legal fees | $2,000 to $5,000 |
| Application fee - consent to purchase as a foreign national/non-resident (if required) | $30,000 to $50,000+ |
| LIM Report (Land Info Memorandum) | $300 to $400 |
| Title search and other due diligence checks | $300 to $800 |
| Building inspection | $500 to $1,500 |
| Mortgage valuation fees | $500 to $1,000 |
| Mortgage arrangement/origination fees | $300 to $1,000 |
Good to know - New Zealand doesn’t have stamp duty or other property transfer taxes.
Taxes and fees for owning property
Once you’ve bought your New Zealand property and paid all those initial costs, you’ll also have some ongoing fees and taxes to cover as a property owner.
The main one is council rates, which is an annual property tax. Rates vary between areas, but you can expect to pay around 2,000 NZD to 5,000 NZD a year.⁶
If you rent out the property, you may also pay income tax as a landlord.
Loans and mortgages for non-residents
Banks in New Zealand do offer mortgages to foreigners, but the process can be more difficult, complicated and expensive than for citizens and local residents.
You’ll need to meet strict eligibility criteria and provide lots of documentation - especially in relation to proof of income. You might find that lenders are reluctant to accept income earned outside of New Zealand. Your best bet in this regard is to try an international bank.⁷
You may also only get a loan-to-value (LTV) ratio of around 70% as a foreign buyer, so you’ll need a larger deposit. Interest rates also tend to be higher for foreign applicants.⁷
It’s a good idea to start shopping around for mortgages before starting your property search in earnest. It’s recommended to use a specialist broker, who can help you find the right mortgage for your circumstances.
Risks and pitfalls of buying property in New Zealand
One of the main things to watch out for when buying or selling property abroad are scams.
To avoid these, it’s strongly recommended to work with qualified and credible professionals such as real estate agents and solicitors.
Ideally, you should also check for membership of a professional body when working with any property experts, brokers or agents - and make sure they’re not linked to the seller or estate agent.
For real estate agents, check that they’re licensed by the Real Estate Authority (REA).
You should also be cautious and do your homework before sending money or a deposit, and have your solicitor do as many due diligence checks as possible.
Other things you may need to know before buying property in New Zealand:
- Leaking buildings, heating and ventilation problems. Some of the country’s buildings, built between the 1980s and 2000s, have a high risk of leaking. Additionally, some have issues with mould, damp and ventilation, or do not have central heating.
- Problematic materials. Make sure to get a property inspection to look for unreliable materials such as asbestos, Dux Quest piping and Weatherside cladding.
- Natural hazards. It’s worth checking out whether natural events such as earthquakes, floods, landslides or volcanic eruptions have affected the property in the past - or could have an impact in the near future. You may also want to get speculative home insurance quotes, as the premiums can be high in NZ.
If you have any concerns about the building, it’s best to get a building inspection/survey carried out.
Moving into your New Zealand property
Before you can get the keys to your new home, you’ll have a final few tasks to check off your list.
Insurance
It’s strongly recommended to take out a buildings insurance policy starting from your completion date. In fact, it’s likely to be a mandatory condition of your mortgage offer.
Setting up utilities
If you know when your completion date will be, it makes sense to get some essentials set up in advance of moving in.
A prime example is utilities, such as heating, power and water. Get these sorted as early as you can, and the moving process should be a little smoother.
Energy efficiency renovations
If you’ve bought an older New Zealand property, you might want to make some energy efficiency improvements to it. For example, improving the insulation, upgrading the windows or installing a new, more efficient heating system.
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Key takeaways
- Most foreign nationals cannot buy an existing home unless they hold a New Zealand residence visa and meet "ordinarily resident" criteria, such as living in the country for at least 183 days of the past year.
- Buyers are generally restricted to land classified as "residential" or "lifestyle," while "sensitive" land, such as coastal, conservation, or island properties, is typically off-limits to overseas persons.
- The market is showing signs of steady recovery following a downturn, with median prices around 990,000 NZD in Auckland and significantly lower averages in regions like the West Coast (420,000 NZD).
- Unlike many other countries, New Zealand does not charge stamp duty or property transfer taxes, though foreign buyers may face high application fees for purchase consent (starting around 30,000+ NZD).
- The buying process is relatively efficient and can be completed in as little as 3 to 4 weeks, provided all legal due diligence and Overseas Investment Office (OIO) consents are in place.
Sources used:
- Toitū Te Whenua Land Information New Zealand - Buying a home in New Zealand - If you are not a New Zealand citizen
- Global Property Guide - New Zealand Residential Real Estate Market Analysis 2025
- Numbeo - Cost of Living Comparison Between United Kingdom and New Zealand
- Lumon Pay - Buying property in New Zealand
- New Zealand Immigration - Buying property in New Zealand
- Central Moves - Buying Property in New Zealand as a UK Expat 2025 Guide
- Remitly - New Zealand Real Estate: A Guide for Foreign Buyers
Sources last checked on date: 26-Jan-2026
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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