New Zealand Opens Door to Foreign Investment in Build-to-Rent Housing

New Zealand will allow wealthy visa applicants to invest in funds supporting build-to-rent housing from December. The government hopes to leverage foreign capital to boost long-term rental housing projects. Changes to the Active Investor Plus visa include reduced investment requirements and expanded philanthropic opportunities.

New Zealand is set to allow wealthy visa applicants to count investments in approved funds supporting build-to-rent housing projects starting December. This strategic move aims to leverage foreign capital to enhance long-term rental housing development in the country.

The centre-right National Party-led government has been gradually refining the Active Investor Plus visa since its relaunch in April 2025. Key modifications include lowering the minimum investment for the Growth category from NZ$15 million to NZ$5 million and reducing the investment period to three years, down from four. Additionally, the range of eligible investments has been broadened.

Despite these modifications, direct investment in build-to-rent projects remains off-limits, requiring applicants to channel funds through approved managed funds. The program also mandates that investors and their families cannot reside in developments financed by their investments. Other adjustments to the visa include relaxed English-language requirements and more philanthropic investment choices, all while New Zealand experiences record net migration and sluggish economic growth.