Buying property in New Zealand
New Zealand offers stunning landscapes, a shared language, and a rich culture. If you’re after a new life abroad, our property buying guide covers everything you need to know, including:
- Important considerations when buying a property in New Zealand, such as strict regulations
- Information on navigating local taxes, visas and other regulations
- A handy checklist for ensuring you’re on track
- Lots of other little tips to support your dream move
Why buy property in New Zealand?
Breathtaking landscapes
Rolling green hills, sweeping beaches, snow-capped mountains and stunning fjords are in no short supply across New Zealand’s two islands.
Work-life balance
New Zealand’s wealth of professional oppportunities is perfectly paired with an ethos of work-life balance that’s enshrined in the country’s law.
Expat community
New Zealand is home to a thriving British expat community, with over 200,000 flocking there for the rich opportunities and laid-back lifestyle.
Can UK residents buy property in New Zealand?
It depends. UK citizens generally can’t buy existing homes in New Zealand unless they have residency and are “ordinarily resident”.
However, they may buy off-plan apartments in certain developments or apply for consent through the Overseas Investment Office if planning to live in the property.
What kind of VISA will I need?
To live in New Zealand, you’ll need to apply for the appropriate. The most popular ones with British citizens include:
Skilled Migrant Category Resident Visa: If you’re under 56 and have in-demand skills, you can apply for residency based on a points system. A job offer helps with this.
Entrepreneur Work Visa: Planning to start or buy a business in NZ? With NZ$100,000 to invest and a solid plan, you could live and work here for up to 3 years, with a path to residency.
Partner of a New Zealander Resident Visa: In a committed relationship with a NZ citizen or resident? If you’ve lived together for 12+ months, you can apply for residency.
Parent Retirement Residence Visa: Have adult children living in NZ? If you meet the financial requirements, you could join them and apply for permanent residency after 4 years.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Lumon or its subsidiaries, and it is not intended as a substitute for obtaining advice from the relevant professional services. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Where to buy
Auckland
New Zealand’s largest and most cosmopolitan city, Auckland combines high salaries, rich culture, and top-tier liveability. Naturally, this comes with the nation’s steepest property prices, too.
Wellington
This cool, compact capital blends natural beauty with a thriving creative scene, earning it the nickname “Wellywood.”
Christchurch
Known as “The Garden City,” Christchurch blends charm, green spaces, and vibrant culture with easy access to mountains and coastline.
Queenstown
Famous for adventure sports and alpine beauty, Queenstown also boasts a thriving food scene and strong local community amid stunning lake and mountain views.
Dunedin
This character-filled university city combines Scottish heritage, historic architecture, and coastal wildlife with sought-after suburbs like St. Clair and Roslyn.
Hamilton
Set along the Waikato River, Hamilton is known for its vibrant dining scene and nearby surf hotspot Raglan.
Taupo
A scenic lakeside resort town offering outdoor adventure and relaxed living near Tongariro National Park.
Napier
A stylish coastal city famed for Art Deco architecture and located in the heart of New Zealand’s wine country, alongside its twin town Hastings.
Currency exchange considerations for UK buyers
At Lumon, we’re here to simplify the currency side of your property purchase, helping you transfer funds overseas with ease.
Exchange rates could affect your budget
Exchange rates move constantly, and even small shifts can impact your budget. Your dedicated currency specialist will provide valuable insights, so you can make a well-informed decision when the time comes to transfer.
Helping you make overseas property payments easy
We have a range of transfer options to suit your needs and where you are in your property journey, including Forward Contracts. After you buy, you can manage any further international payments with ease through your online account.
How to plan costs when buying property in New Zealand
Our buying guide for New Zealand goes into depth about how to buy property there and what to factor in, including:
Understand restrictions: Get to grips with the type of property you can buy in a country with more limitations for international buyers than most.
Set your budget: Factor in legal fees, taxes, surveyor costs, and currency exchange alongside the property price.
Have your deposit ready: A 10% deposit is usually required, and having it in place early will help move things along quickly.
Frequently asked questions
Do you pay UK stamp duty on property in New Zealand?
No, UK stamp duty only applies to UK properties. However, there are other costs, taxes and fees you’ll need to consider.
Do I have to declare a New Zealand property to HMRC?
You don’t need to declare the property itself, but if you rent it out or sell it at a profit, you may need to report any income or gains to HMRC if you’re a UK tax resident.
How can I reduce UK tax on my New Zealand property?
New Zealand and the UK have a double taxation agreement, which helps prevent you from being taxed twice on the same income. A tax adviser can help you claim reliefs and navigate what applies to your situation.
Can I get a mortgage to buy property in New Zealand?
Yes, UK citizens can apply for mortgages from New Zealand lenders, though non-resident buyers will need likely to provide more documentation and a higher deposit. Currency exchange should also be factored in if your income is in GBP.
Legal considerations when buying a property in New Zealand
Get independent legal advice: Appoint a solicitor who specialises in New Zealand property law and represents only your interests, especially if you’re buying remotely.
Protect yourself from fraud: Ensure all documents are verified, confirm the seller’s identity, and avoid transferring funds before legal checks are complete. Your solicitor will guide you through this safely.
The step-by-step process of buying property in Ireland
1. Set your budget
Be clear on your price range and build in room for surveys, legal and conveyancing fees, and currency costs.
2. Choose your location
Whether you’re after countryside, coast, or city life, New Zealand offers a wide range of settings to suit different lifestyles and budgets.
3. Arrange financing
Consider whether you’ll need a mortgage or pay in cash. Currency exchange is an important factor here if your funds are in GBP.
4. Make an offer and pay a booking deposit
Once your offer is accepted, you’ll usually pay a small booking deposit to reserve the property, which is held by the estate agent.
5. Complete legal checks and transfer funds
Your solicitor will complete due diligence and exchange contracts. A Lumon specialist can help manage your final payment at a competitive rate, so you can settle the balance with confidence.
Working with Lumon – your trusted currency partner
Our team of currency specialists have the local market knowledge to help you navigate the process of buying a property in New Zealand. With over 25 years of international property experience, we’re here to help make the process hassle-free.
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Get more for your money with great value on every transfer. We offer bank-beating exchange rates, no transfer fees, and award-winning service you can rely on.
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I was moving our money from the UK to Ireland to complete a house purchase. The onboarding team were very reassuring. The money arrived that day and we even got a decent rate that beat the banks hands down.
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Whether you’re buying a property abroad, sending a one off payment or require regular payments, we’re here to help.
Your property buying guide
Our property buying guide is packed with information and resources to support you on your property journey, including:
- Important considerations when buying a property in New Zealand
- Information on navigating local taxes, visas and other regulations
- A handy checklist for ensuring you’re on track
- Lots of other little tips to support your dream move
