Reduces barriers on foreign investment for build-to-rent housing developments
04 Apr 2024
On 4 April 2024, New Zealand issued a new Ministerial Directive Letter to the Overseas Investment Office (OIO), outlining immediate and interim updates to the approach for assessing investment applications for build-to-rent developments and reducing barriers to overseas investment in build-to-rent schemes. The Letter clarifies the current interpretation and application of two tests under the Act: the "benefit to New Zealand test" and the "increased housing test". The directive encourages the OIO to approve overseas investments in build-to-rent developments based on the investment itself and its impact on reducing liquidity risk, without requiring further evidence of additional benefits to New Zealand.
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Type:
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Entry and establishment (Approval and admission)
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Promotion and facilitation (Investment facilitation )
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Industry:
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Services (Real estate activities)
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Sources:
