New Zealand to allow wealthy migrants to build rental housing

WorldNew Zealand to allow wealthy migrants to build rental housingWELLINGTON, Sept 9 (Reuters) - New Zealand will let wealthy visa applicants count investments in approved funds backing build-to-rent housing from December, the government said on Tuesday, tapping foreign capital to help fund new long-term rental homes. By Reuters 9 Sep 2026 WELLINGTON, NEW ZEALAND - MAY 20: A general view of Oriental Bay houses and apartments on May 20, 2026 in Wellington, New Zealand. New Zealand's economy has faced mounting pressure from sluggish consumer spending, a weakening housing market, and softening global demand, raising concerns about the pace of recovery. (Photo by Hagen Hopkins/Getty Images) Dive Deeper Speed Read Listen Dive Deeper The centre-right National Party-led government has progressively loosened New Zealand's Active Investor Plus visa since relaunching it in April 2025, cutting the minimum investment for its Growth category to NZ$5 million ($2.93 million) from NZ$15 million, shortening the required investment period to three years from four, and widening the range of eligible investments.Applicants in the Growth category will not be able to invest directly in build-to-rent projects, with money required to go through approved managed funds. Investors and their family members will also be barred from living in a development financed by their investment, the government said.Changes to the scheme designed to attract wealthy foreigners come as the South Pacific nation of 5 million experiences record net migration and weak economic growth.Other changes to the Active Investor Plus visa include eased English-language requirements for some applicants and expanded philanthropic investment options.($1 = 1.7085 New Zealand dollars)(Reporting by Lucy Craymer; editing by Lincoln Feast.) World