Anthony Mosinkhof: Forbes Global real estate agent on the impact of the Government loosening the foreign buyers' ban

A luxury real estate agent says there's huge interest only in two areas of New Zealand, with the Government's planned loosening of the foreign buyers ban.

By next year, Active Investor Plus visa holders will be able to build or buy homes worth at least $5 million.

They’ll still need to invest another $5 million separately to qualify.

Forbes Global's Anthony Mosinkhof says Auckland and Queenstown are the main options for foreign buyers.

"The problem with this legislation is - the concentration of these buyers will be diverted to those two areas. It's a little bit of a shame that they aren't able to put more into the regions."

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Episode Transcript

Speaker 1 (00:09):
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Speaker 2 (00:16):
Well, real estate agents reckon that their phones are already
ringing with calls from prospective overseas buyers. Today the government
has announced it will ease the Foreign Buyers band for
Golden Visa holders wanting to buy a house for more
than five million bucks. Anthony Mousenkov is a luxury real
estate agent with Forbes Global and with US.

Speaker 3 (00:31):
High Anthony, Hi, ever, thank you for having me on
the show.

Speaker 2 (00:34):
Yeah, you're welcome. Thanks for coming back. How many calls
have you fielded today?

Speaker 3 (00:39):
I don't know, it's been quite a view. The line
has been going for the last couple of weeks. The
lion has been going continuously and day and night as
we get a lot of people from the United States,
especially the United States, and from especially Northern Europe.

Speaker 4 (00:54):
And how much do they want to spend.

Speaker 3 (00:57):
I've got clients that got over one hundred million to
spend here in New Zealand, not on a house, not
on a house, but five million dollars for our house
is for them. It's pretty easy money change.

Speaker 4 (01:07):
Yeah, what do they want to do? Do they want to
buy or build?

Speaker 3 (01:12):
There's both there. I think there's a I think there
would be a I wouldn't know the exact numbers, but
it would be on any pretty even keel. We're dealing
with new bills at the moment and there's a big
interest in that, and especially there's good named architectsure involved.
There's certain interest on that side as well.

Speaker 4 (01:34):
And where in the country are they looking at.

Speaker 3 (01:38):
It's mainly Queenstown Wanaka Auckland area And the problem with
this legislation is what they've done here now at the
concentration of those buyers will be going diverted to those
two areas. It's a little bit of a shame that
they aren't able to put more into the regions.

Speaker 2 (01:57):
Yeah, that's a fair point actually, Anthony, Thanks so much.
Best of lucky that Anthony Morsenkor for Luxury real estate Agent.

Speaker 1 (02:02):
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