Wealthy international migrants exploring New Zealand’s Golden Visa pathway are helping fuel a multi-million-dollar lift in luxury rentals, hospitality and tourism before they buy property, creating wider economic benefits for accommodation providers, homeowners, restaurants, concierge services, tourism operators and local retailers, according to new data.
New research from realestate.co.nz has found demand in the luxury rental market increased by 43% between January and May 2026 compared with the same period last year. The data also shows growth accelerated after the Golden Visa changes came into effect, with international luxury rental activity in April and May more than doubling compared with the same period last year, increasing 123%.
New figures from luxury accommodation platform Stay Luxe also show property searches increased by 200% between January and May 2026, compared with the same period last year, as high-net-worth international visitors look to “test-drive” New Zealand before committing to residency or a property purchase.
Their data revealed Golden Visa migrants are staying around five times longer in luxury rental accommodation than other high-net-worth travellers, as they look to immerse themselves in local communities, understand the lifestyle and explore potential property options ahead of settling.
Industry experts say the overnight boost for the premium accommodation and hospitality sectors is among the first tangible evidence that the Active Investor Plus visa is generating economic activity beyond capital investment, with individuals already spending thousands of dollars a day across premium goods and services before any property purchase is made.
Sarah Wood, realestate.co.nz CEO, says the data shows international interest is accelerating at the premium end of the rental market.
“Luxury rentals give us an early read on buyer intent before it turns into a purchase. These visitors are spending time in the market, comparing locations and building confidence before making a significant property decision,” Wood says.
“What is interesting is that the lift is strongest in the premium rental category and becomes much more pronounced from April onwards. That timing is consistent with the Golden Visa bringing new international interest into the part of the market where high-net-worth demand is most likely to appear first.”
Greg Owen, Stay Luxe co-founder, says high-net-worth migrants are transitioning into New Zealand life in stages, with the initial phase already delivering significant economic benefits beyond the property sales market.
“What we are seeing is that these visitors are not just arriving in New Zealand and buying a home. They are coming here first, staying in luxury accommodation, exploring different regions, using local services and deciding whether New Zealand is the right long-term fit for them,” Owen says.
“That creates a much broader economic impact than many people realise. The accommodation provider benefits, but so do homeowners, chefs, drivers, concierge providers, helicopter operators, charter companies, restaurants, retailers, galleries and local tourism businesses.”
Wood says the data points to a more concentrated lift in luxury rental demand, led by overseas visitors assessing New Zealand as a place to live, invest and eventually buy.
“The growth we are seeing around luxury rentals reflects the way high-net-worth buyers tend to approach a major move. They want time on the ground to understand neighbourhoods, schools, lifestyle, services and the type of property that would suit them before they make a longer-term commitment,” she says.
Wood says Auckland has the highest level of demand, with their data showing luxury rental activity in the city was more than six times higher in May 2026 than a year earlier.
“Auckland is often where international buyers begin because it has the largest pool of premium property, international connections, private schools, professional services and the lifestyle infrastructure many high-net-worth buyers look for,” she says.
Stay Luxe data shows 81% of guests are international, with North America accounting for 41% of international guests, followed by Australia at 27%, Asia at 12%, the UK at 9% and Europe at 4%.
Owen says Golden Visa guests stay significantly longer than traditional luxury tourists, with these guests staying an average of 32 nights, compared with around seven nights for standard luxury travellers.
“That length of stay changes the economics completely. A typical luxury holiday guest may spend heavily for a week, but Golden Visa and relocation visitors are often here for a month or more. They are living in the community, dining out, travelling domestically, shopping, using services and in some cases actively looking for property,” he says.
The company says its top-tier luxury properties have an average total booking value of around $77,600, with an average nightly rate of $4,750 and an average stay of 16 nights. Its second-tier properties record an average booking value of around $13,400, with an average nightly rate of $1,690 and an average stay of eight nights.
Owen says daily spending on extras can vary widely, from around $500 per day for concierge support to as much as $8,000 per day for a combination of services such as private chefs, in-house spa treatments, personal drivers and security.
He estimates each stay generates around $20,000 in additional economic spend beyond accommodation, including food and beverage, activities and experiences, domestic transport, retail, art and gifts.
“The high-end rental market is becoming part of the front door to New Zealand for wealthy migrants. Before they buy, they want to understand the lifestyle, the regions, the schools, the services and the local environment. Luxury accommodation gives them that bridge,” he says.
The company says its average daily rate has increased 16% compared with the same period last year, with some properties more than doubling their average daily rate. Stay Luxe occupancy is also tracking around 12% higher than the wider market.
Owen says the off-peak benefit is likely to become more visible through winter, as Golden Visa and relocation guests are less tied to traditional tourism seasons.
“June to September is usually the quieter period for luxury accommodation, but Golden Visa travellers are different from seasonal tourists. If they are staying an average of 32 nights and travelling year-round, that has an immediate impact on occupancy and revenue,” he says.
Wood says realestate.co.nz is responding to the growth in demand by developing a dedicated Golden Visa rental landing page and new resources to help owners of premium rental properties connect more effectively with high-net-worth international visitors.
“These visitors often need high-quality rental accommodation while they assess New Zealand as a place to live and invest. A dedicated rental pathway will help make that process easier for them, while giving premium property owners a more direct way to reach this market,” she says.
The increase in luxury rental demand follows renewed interest in New Zealand’s investor migration settings, with Golden Visa applicants and other wealthy offshore buyers assessing the country as both a lifestyle destination and long-term investment market.
Owen says New Zealand is well-positioned to attract more high-value visitors, but the country still lacks the depth of ultra-luxury accommodation available in markets such as Europe, the United States and parts of Australia.
“New Zealand has outstanding luxury homes and lodges, but we do not yet have the same depth of supply at the very top end. International guests travelling with family, staff or security teams often need large residences, multiple bedrooms and a very high level of service,” he says.
“There is a real opportunity for New Zealand property owners. Some owners may not realise there are international guests prepared to pay premium rates for the right property, particularly if it offers privacy, design, location and a genuinely high-end experience.”
Owen says the next phase of growth will come from connecting high-value international demand with a more structured national portfolio of luxury homes.
“New Zealand’s luxury rental market has been underdeveloped relative to the calibre of international guests now looking at the country. The Golden Visa effect is helping expose that gap, but it is also showing the scale of the opportunity,” he says.