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LINZ data shows 3% of 2016 property transfers involved overseas tax resident buyers

27 February 2017

The latest quarterly data released by Land Information New Zealand (LINZ) shows that over 2016, 5,466 property transfers - 2.6% of the total of 207,597 in 2016 - involved overseas tax resident buyers (including trusts, companies and businesses as well as individuals.

In the October to December 2016 quarter, 2% of property transfers involved overseas tax resident buyers and 3% involved overseas tax resident sellers.

The figures are gathered by LINZ for property tax purposes, and are not a register of foreign ownership.

LINZ Deputy Chief Executive Russell Turner says there was a slight drop in the number of overseas resident tax buyers in the December quarter.

"They were involved in 2% of transfers in October to December, compared to the 3% we saw in the first three quarters of 2016," he says.

LINZ says 58% of transfers in the December 2016 quarter involved buyers who have only New Zealand tax residency. This was similar at 60% for the September quarter.

Buyers who did not need to provide tax information accounted for 40% of transfers in the December quarter. The majority of these were New Zealand citizens or residents who were buying their main home. This compared to 37% in the September quarter.

Transfers for 2016 quarter ending
Overall transfers45,11457,67853,99150,814207,597
Involving overseas tax resident sellers11581749143111285466
Involving overseas tax resident buyers10621560150313715496
Auckland transfers involving overseas tax resident buyers4749006485192541

Last updated on the 16th September 2019