New Zealand prepares to prohibit foreigners from buying houses after a super rich tendency to create bunkers of the apocalypse

Matt Lauer, dishonored NBC host, bought a 16,000-acre long-term lease on the 16,000-acre property in February 2017 that stretches from the mountains to the shores of Lake Hawaea and Lake Wanaka on the south island of the country (in the photo)

New Zealand plans to ban foreigners from buying houses after an avalanche of millionaires creating luxurious bunkers from the end of the world has apparently raised property prices for local buyers.

It comes after purchases made by PayPal founder Peter Thiel and fallen former NBC presenter Matt Lauer, who lost his job after allegations of sexual misconduct.

The center-left government of the country, led by Prime Minister Jacinda Ardern, blamed wealthy expatriates for their major housing crisis, and indigence rates are among the highest in the developed world.

Matt Lauer, dishonored NBC host, bought a 16,000-acre long-term lease on the 16,000-acre property in February 2017 that stretches from the mountains to the shores of Lake Hawaea and Lake Wanaka on the south island of the country (in the photo)

Matt Lauer, dishonored NBC host, bought a 16,000-acre long-term lease on the 16,000-acre property in February 2017 that stretches from the mountains to the shores of Lake Hawaea and Lake Wanaka on the south island of the country (in the photo)

The next ban comes after purchases made by PayPal founder Peter Thiel and former NBC anchor Matt Lauer, who lost his job after allegations of sexual misconduct.

The next ban comes after purchases made by PayPal founder Peter Thiel and former NBC anchor Matt Lauer, who lost his job after allegations of sexual misconduct.

The next ban comes after purchases made by PayPal founder Peter Thiel and former NBC anchor Matt Lauer, who lost his job after allegations of sexual misconduct.

The next ban comes after purchases made by PayPal founder Peter Thiel and former NBC anchor Matt Lauer, who lost his job after allegations of sexual misconduct.

The next ban comes after purchases made by PayPal founder Peter Thiel (right) and fallen former NBC presenter Matt Lauer (left), who lost his job after allegations of sexual misconduct.

Ms. Ardern says the amendment to the law that prohibits foreigners from owning most types of housing in New Zealand, due to approval in parliament next week, will help reduce property prices.

This, together with plans to create 100,000 affordable housing in a decade, will solve the country's infrastructure problems and its weak construction industry.

The tendency of the super rich to plan a safe space to overcome the apocalypse in New Zealand has become "almost a cliché" in recent years, reports The Telegraph.

LinkedIn co-founder Reid Hoffman told The New Yorker last year: "Saying you're buying a house in New Zealand is a kind of wink, wink, do not say anymore."

The new bill will allow non-residents to buy new apartments in large buildings, and existing homes will only be available to people in Australia and Singapore, due to free trade rules.

However, David Parker, Minister of Commerce and Economic Development, said the bill, for which he is responsible, is not just about housing prices.

"In this world of concentration of wealth, we do not want this group of ultra-wealthy people abroad to beat the successful New Zealanders for what is our birthright, not theirs," he said.

New Zealand (pictured) plans to ban foreigners from buying houses after a wave of millionaires generating luxurious bunkers from the end of the world has apparently raised property prices for local buyers

New Zealand (pictured) plans to ban foreigners from buying houses after a wave of millionaires generating luxurious bunkers from the end of the world has apparently raised property prices for local buyers

New Zealand (pictured) plans to ban foreigners from buying houses after a wave of millionaires generating luxurious bunkers from the end of the world has apparently raised property prices for local buyers

However, many economists, including the International Monetary Fund, question whether that is really the case in New Zealand.

Only 3.3% of the properties were purchased by non-residents in the first three months of this year, according to official figures published in June.

However, in the largest city in the country, Auckland, international buyers accounted for 18.7 percent of purchases.

While in glamorous Queenstown, 9.7 percent of property sales were for foreigners.

"But housing prices have risen everywhere," said Shamubeel Eaqub, a housing economist at Auckland's Sense Partners consultancy.

Graham Wall, an Auckland-based real estate broker whose clients have included the Sultan of Brunei and Mr. Thiel, said the wealthy expatriates he manages are nervous about the new law.

"People are surprised and bewildered, having been so well received here, and can not understand the new hostility," he said.

He added that these rich international landowners have created thousands of jobs for New Zealanders and billions of dollars for tourism.

Recently, a planned social housing plan for Queenstown almost failed after it lost its European investor, Foundation Capital, in March following the impending ban.

A legislator from the center-right National Party, Amy Adams, said she had heard of other developments that had failed because investors distrusted the new law.

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