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Not a huge market for foreign buyers

Monday 4th of September 2023

And if they do rush in, there are only about 50,000 properties in the $2 million and above price range.

National says it will loosen the ban on foreigner buyers and allow them to purchase houses worth $2 million or more as long as they pay a 15% tax on the sale price.  It expects to raise $740 million a year in tax. 

Jackson says while the mortgage adviser company is a...

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