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The domestic law change on foreigners buying homes provides Ardern with a work-around.She wants to introduce the legislation before Christmas and pass it early next year, before the TPP is ratified.The allure of property investment was turbocharged in 1999, when capital-gains tax was halved.With housing prices seen as a one-way bet, investors unsurprisingly piled in."This, though, hasn't really put the brakes on foreign investors, who often prefer to buy off-the-plan anyway." Chinese money has pushed up home prices around the world, stoking concern among locals in cities from Vancouver to Sydney.Auckland is the fourth-least-affordable property market in the world, according to Demographia.
Member states will seek an agreement on the TPP at an APEC meeting in Vietnam next week.
For a number of reasons, having one can prove to be very useful.
You can buy alcohol if you get through the security routine and even get into the town’s hottest clubs.
In its current form, the TPP would maintain foreigners' access to New Zealand property.
The new government, sworn in only last week, faced having to reopen negotiations, which risked scuppering the deal at this late stage.