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Thread: Buying second home

  1. #1
    Join Date
    Sep 2017
    Location
    Hong Kong
    Posts
    6

    Default Buying second home

    Hi Dear,

    I am in resident visa, be here more than 183 days and I am tax resident as well.

    I bought one apartment before 28 Oct and I am planning to buy another house that ready for my family moved here.

    Do I qualify to buy a house? I was struggling to avoid sell out the existing apartment that will make a loss ( at least the commission for the agent). Plan to rent it out to keep for a while.

    Thanks

  2. #2
    Join Date
    Jan 2007
    Location
    Chch, NZ
    Posts
    2,208

    Default

    I suppose the obvious is not clear. Once you're a PR of NZ, there's no restriction on buying your 2nd or 5th home. The restriction only applies to non-resident foreigners not living in NZ wanting to buy an existing home.

    You're lucky you're not trying to buy a house in Canada. The trend is major cities are imposing 'Vacancy Taxes' to those that fit your description. (ie those from abroad that don't really live in the house they own abroad). In the case of Vancouver, the requirement to prove you actually live in your home as a "principle residence" is more of a hassle that most just simply pay the tax. I would not be surprised if NZ looks to this area for additional taxation.

  3. #3
    Join Date
    Jun 2015
    Location
    UK->CA->NZ
    Posts
    85

    Default

    The rule is that "You have been a permanent resident for at least a year, have been in New Zealand for at least 183 days of the last year and you’re a NZ tax resident" If you hold residence visa but not permanent resident yet, not sure about that ...

  4. #4
    Join Date
    Feb 2008
    Posts
    35,532

    Default

    https://www.newzealandnow.govt.nz/li...uying-building

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