PHOTO: “There is minimal data available. So, who better to ask than those who deal with this day in and day out – our members.
The upcoming foreign buyer ban on purchasing existing properties is expected to have a minimal impact on sales, according to new research from the Real Estate Institute of New Zealand (REINZ).
A recent REINZ survey of its members revealed that currently only a minority of buyers are from overseas (3.8%).
REINZ chief executive Bindi Norwell says that ahead of the government’s upcoming foreign buyer ban they were interested to understand exactly what percentage of sales were to international buyers.
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