New Zealand to allow wealthy migrants to build rental housing

[WELLINGTON] New Zealand will let wealthy visa applicants count investments in approved funds backing build-to-rent housing from December, the government said on Tuesday (Sep 8), tapping foreign capital to help fund new long-term rental homes.

The centre-right National Party-led government has progressively loosened New Zealand’s Active Investor Plus visa since relaunching it in April 2025, cutting the minimum investment for its Growth category to NZ$5 million (US$2.93 million) from NZ$15 million, shortening the required investment period to three years from four, and widening the range of eligible investments.

Applicants in the Growth category will not be able to invest directly in build-to-rent projects, with money required to go through approved managed funds. Investors and their family members will also be barred from living in a development financed by their investment, the government said.

Changes to the scheme designed to attract wealthy foreigners come as the South Pacific nation of 5 million experiences record net migration and weak economic growth.

Other changes to the Active Investor Plus visa include eased English-language requirements for some applicants and expanded philanthropic investment options. REUTERS