"Labour's Bill to curb foreigners buying New Zealand homes becomes law"

[Oregonkiwi]

People that are not New Zealand citizens or residence class visa holders or
Australian or Singaporean citizens and permanent residents will only be able to
purchase residential land following screening by the OIO.
The Bill allows Permanent Resident and Resident Visa holders that are not “ordinarily
resident” (such as those who have not resided in New Zealand for at least 12 months)
but are committed to reside in New Zealand to apply for consent to buy a home to live
in. People that can demonstrate that they have a commitment to reside in New
Zealand will be able to purchase one home for use as their principal place of residence
in New Zealand, which they will be required to sell if they leave New Zealand and sever
their commitment to reside in New Zealand.

9. What if I’m an overseas person who already owns a house?
The Overseas Investment Amendment Bill will not interfere with the rights of existing
home owners to use and enjoy their properties. This is an important principle.
It will, however, restrict who existing homeowners can sell or in some cases lease their
properties to. It will also restrict an overseas person’s ability to make any subsequent
purchases of sensitive land that is residential land where the approval criteria are not
met.

https://treasury.govt.nz/sites/defau...land-qanda.pdf

[Oregonkiwi]

The LINZ website has now been updated with information about the new rules (which take effect on 22 October)
https://www.linz.govt.nz/overseas-investment

[Juniper]

The LINZ website has now been updated with information about the new rules (which take effect on 22 October)
https://www.linz.govt.nz/overseas-investment

Thank you, very useful :-)