ISSUE
Friday, August 22, 2025
Volume 16 . Issue 73
The new government is supremely confident of being able to push through the ban on foreign speculators in New Zealand’s housing markets without disturbing or thwarting agreements with major trading partners.
The government will be introducing an amendment to Overseas Investment Act to classify residential housing as “sensitive”.
“The previous National government chose to put foreign speculators ahead of Kiwi families, but we have chosen to protect Kiwi families and New Zealand’s best interests.
“That government claimed this could not be done without breaching other free trade agreements and that a stamp duty would be the only effective tool,” Prime Minister Jacinda Ardern said.
However, the new government has received advice from the officials that this could be achieved without majorly disturbing agreements with New Zealand’s trading partners, except Singapore.
“The advice we have had from officials is that we can give effect to the ban by a simple amendment to the Overseas Investment Act without breaching any agreement except the Singapore Closer Economic Partnership,” Ms Ardern said.
It is expected that the options with Singapore will be worked through later.
“The proposed change means we can move our focus away from land issues at the negotiating table at APEC when negotiations on the TPP reach their final stages, and focus on Investor State Dispute Settlement (ISDS) clauses.
“We are concerned by ISDS clauses in the proposed agreement. These confer greater rights on multi-national companies investing in New Zealand than a New Zealand company has.
The cabinet has today instructed trade negotiation officials to oppose ISDS in any future free trade agreements.
The new government is supremely confident of being able to push through the ban on foreign speculators in New Zealand’s housing markets without disturbing or thwarting agreements with major trading partners.
The government will be introducing an amendment to Overseas Investment Act to classify...
The new government is supremely confident of being able to push through the ban on foreign speculators in New Zealand’s housing markets without disturbing or thwarting agreements with major trading partners.
The government will be introducing an amendment to Overseas Investment Act to classify residential housing as “sensitive”.
“The previous National government chose to put foreign speculators ahead of Kiwi families, but we have chosen to protect Kiwi families and New Zealand’s best interests.
“That government claimed this could not be done without breaching other free trade agreements and that a stamp duty would be the only effective tool,” Prime Minister Jacinda Ardern said.
However, the new government has received advice from the officials that this could be achieved without majorly disturbing agreements with New Zealand’s trading partners, except Singapore.
“The advice we have had from officials is that we can give effect to the ban by a simple amendment to the Overseas Investment Act without breaching any agreement except the Singapore Closer Economic Partnership,” Ms Ardern said.
It is expected that the options with Singapore will be worked through later.
“The proposed change means we can move our focus away from land issues at the negotiating table at APEC when negotiations on the TPP reach their final stages, and focus on Investor State Dispute Settlement (ISDS) clauses.
“We are concerned by ISDS clauses in the proposed agreement. These confer greater rights on multi-national companies investing in New Zealand than a New Zealand company has.
The cabinet has today instructed trade negotiation officials to oppose ISDS in any future free trade agreements.
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