Source: New Zealand Parliament
Media Release
On behalf of: Chair of the Finance and Expenditure Committee
For release: 27 June 2024
Have your say on Overseas Investment (Build-to-rent and Similar Rental Developments) Amendment Bill
The Chair of the Finance and Expenditure Committee is calling for submissions on the Overseas Investment (Build-to-rent and Similar Rental Developments) Amendment Bill. The closing date for submissions is 11.59pm on 28 July 2024.
The bill would amend the Overseas Investment Act 2005 to remove barriers to overseas investment in “build-to-rent” housing. It aims to do this by creating a new streamlined test that would allow overseas investors to buy existing large rental developments, provided they meet the requirements of the investor test.
For the purposes of the bill, “build-to-rent” housing is large-scale rental developments of at least 20 residential dwellings.
Tell the Finance and Expenditure Committee what you think:
Make a submission on the bill by 11.59pm on 28 July 2024.
For more details about the bill:
ENDS
For media enquiries contact:
Finance and Expenditure Committee Staff
fe@parliament.govt.nz
