New Zealand to allow wealthy migrants to build rental housing

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 ($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.($1 = 1.7085 New Zealand dollars)(Reporting by Lucy Craymer; editing by Lincoln Feast.)