There are indeed restrictions on investments in residential property: (1) The investment must be in new developments (not a renovation or an extension of existing buildings); (2) The development must have been approved and gained any required consents by any relevant regulatory authorities. If they have not been approved, proof that the consents already have been requested; (3) The goal of the investment/development must be a commercial return on the open market; (4) The property must not be intended for family, relatives, associates, etc. of the applicant.
I have heard that there are several requirements that the residential property must meet in order to be considered an acceptable investment.
New Zealand Immigration AdviserAnswered on