Buying Property in Canterbury from Overseas

New Zealand has specific restrictions on overseas buyers purchasing residential property. If you are considering buying Canterbury property from overseas or as a non-resident, here is the current framework.

The Overseas Investment Rules

New Zealand's Overseas Investment Act restricts non-residents from purchasing most residential property in New Zealand. The key categories of who can buy are: New Zealand citizens (can buy regardless of where they live); New Zealand permanent residents (can buy); and Australian and Singaporean citizens and permanent residents (can buy under free trade agreement provisions). Most other overseas buyers cannot purchase residential property in New Zealand without Overseas Investment Office (OIO) consent, which is granted only in limited circumstances for residential property.

Who Is Restricted

Non-resident foreign nationals who are not Australian or Singaporean citizens or permanent residents generally cannot purchase existing New Zealand residential property. This restriction was introduced in 2018 and remains in force in 2026. The restriction applies to existing dwellings; there are different rules for new build development in some circumstances. Always obtain specific legal advice about your citizenship and residency status before assuming you can purchase Canterbury residential property.

The Active Investor Plus Visa Change

From late 2025, the Active Investor Plus visa threshold for property purchases was reduced from $15 million to $5 million. This change is relevant for high-value investors but does not change the general residential property purchase restriction for most overseas buyers.

Process for Eligible Overseas Buyers

For Australian and Singaporean citizens and permanent residents, and New Zealand citizens abroad, the purchase process is broadly similar to a standard Canterbury purchase, with additional identity verification requirements. A Canterbury solicitor experienced in international transactions handles the additional documentation. Remote signing of sale and purchase agreements using electronic signature platforms is widely accepted in New Zealand, making remote purchases logistically feasible. Offshore mortgage lending is less common - most Canterbury purchases by overseas buyers are funded either through New Zealand bank lending (if the buyer qualifies) or cash.

Overseas Investment Act information from the Overseas Investment Office (oia.govt.nz). For general information only - always obtain independent legal advice about your eligibility to purchase New Zealand residential property before proceeding.