Big spike in overseas buyer interest in luxury homes
Wednesday, 18 March 2026
International interest in ultra high end properties soared in February, and it was driven by changes to the “golden visa” settings, Trade Me Property says.
New data from the real estate listings website revealed international searches for $5 million plus properties were up by 85% last month, compared with the same time last year.
In the $5m plus listing bracket 12.2% of all searches last month were from outside of New Zealand, up from 6.6% in February last year.
The increase comes on the back of the Government’s changes to the “active investor plus” visa, which meant that from March 6 those visa holders would be able to buy or build a home worth more than $5m.
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Trade Me Property customer director Gavin Lloyd said a direct correlation between policy certainty and global search volume was evident.
The setting changes were clearly encouraging high net worth individuals to re-examine Aotearoa as a premier destination for long-term investment, he said.
'With so much global uncertainty right now, for wealthy investors, moving here is an investment in a way of life that’s increasingly hard to find elsewhere.”
While Queenstown is well known as a magnet for rich overseas investors, it was Auckland that dominated the international searches in Trade Me’s data.
Searches for Auckland properties in the $5m plus bracket were up 40% across January and February, compared with the same two months last year, it showed.
Lloyd said the “active investor plus effect” was concentrated in Auckland, and was putting the city’s luxury market back on the global stage.
Otago and Canterbury rounded out the top three most-searched regions.
Meanwhile, the data also showed that overseas searches in February came from 49 countries.
Of those countries, the top 10 were Australia, United States, Thailand, UK, Chile, Indonesia, South Korea, Singapore, India and Germany.
Australians and Singaporeans were already exempt from New Zealand’s foreign buyer ban, but the US ranking reflects earlier data showing that of the 573 active investor plus applications received by February about half were from the US.
Lloyd said high net worth individuals from the US, UK, and Australia were not just browsing the site.
“They’re zeroing in on $5m-plus listings because the regulatory path is clearer than it’s been in years. For these buyers, an Auckland residence isn't just a home, it's a strategic asset.'
But supply at the luxury level remained tight with current residential listings in the $5m plus bracket making up just 1.8% of the total residential inventory on Trade Me Property, he added.
Real estate agents have previously flagged New Zealand might not have enough ultra-luxury homes to cater to rich overseas buyer demand, and suggested it could impact on the take up of “golden visas”.
Supply could get even tighter if demand continues to increase, and Ray White NZ chief executive Daniel Coulson said that could happen as a result of the conflict in the Middle East.
“We’re hearing about people leaving the Middle East, and many will be thinking about where they can go now.
“Now it's possible for wealthy overseas investors to buy $5m plus homes in New Zealand - that’s going to be an attractive option for people.”
His agency had seen an increase in activity and demand on its website from the Middle East, the US, the UK and some parts of Europe since the conflict began, he said.