Controls and restrictions of foreign ownership of existing housing stocks

What I would like to see in this regard is the prevention of foreign investors who have no ties to this country bar the capital expended here, from further pushing house affordability and the 1/4 acre dream further from the grasp of ordinary working class New Zealanders. A non resident investor buying up 20 houses at a time does nothing for the actual economy. it make the government figures appear better than they are but this does not translate to tangible benefits to the citizens on the bottom of the food chain. rather the opposite and in turn adds to the inequality divide that is now almost insurmountable. I think it is high time someone holds the current administration to account as they are entirely removed from the plight of the average non property owning New Zealand and have been very economic with the truth to date in these regards. feel free to disagree.

Why not apply this rule to all people in NZ? Speculation is damaging, regardless of where you come from.

Foreigners shouldn’t be allowed to own reale state in NZ period. Only exception for those holding a work permit and a job offer as a bare minimum and then only for one dwelling and after they leave NZ to be forced to sell within 2 years of leaving

I only disagree because I don’t think you’re going far enough. I person without citizenship can always rent. Many countries don’t allow foreign ownership of anything.

Heavily dislike in raw form but could be workable with tweaks. Reason for disliking is that is that for some people, they can’t get citizenship without renouncing their birth citizenship while other countries allow for dual citizenship. This creates an incentive to get NZ citizenship (over residency) which may not be the best option. For example, a woman from a country that does NOT allow dual citizenship is faced with a stark choice. Maintain her birth citizenship and be penalised by this proposal or adopt NZ Citizenship. This second option potentially strands her if she discovers that her partner is abusive (especially if that develops over time). Essentially this disadvantages those from countries that don’t allow dual citizenship, rather an arbitrary division. The tweak would be to have something like citizenship lite (see blue card: https://en.m.wikipedia.org/wiki/Turkish_nationality_law) that allowed for those from countries that did not allow dual citizenship a way to have equivalent protections to those that did.
Another issue is that in the case of a couple undergoing a divorce, the non resident spouse would be at a disadvantage, again only in the case where dual citizenship was not an option.
Or, the limitation could be for non-residents.

I would need to understand more on how foreign property investment functions in the NZ economy beyond the residential housing issue.