Following the recent changes to New Zealand’s overseas investment regime, Land Information New Zealand (LINZ) has released new data showing how overseas investment is tracking and, in particular, the early uptake of the new $5 million-plus house pathway.

Strong early uptake

The new pathway came into force on 6 March 2026 and allows qualifying Active Investor Plus, Investor 1 and Investor 2 visa holders to obtain Overseas Investment Office (OIO) consent to purchase or build one residential property worth more than $5 million.

The early LINZ figures indicate steady uptake, with 25 $5 million-plus house consents granted by 29 July 2026, no applications declined and only one withdrawn. LINZ data shows that the applicants have come from a diverse range of countries. Of those first 25 approvals:

1. United States - 11

2. China - 6

3. Germany - 2

4. Canada, Hong Kong, Ireland, Japan, South Korea, and the United Kingdom - 1 each

Accordingly, the United States accounted for approximately 44% of the early approvals, with China accounting for a further 24%.

The properties themselves have also been concentrated in particular parts of New Zealand. Auckland accounted for 15 of the first 25 consents, followed by Otago with 7, with one consent each in Hawke's Bay, Southland and Waikato.

The figures suggest that the new $5 million-plus pathway are attracting genuine interest, particularly from investors in the United States and China, and that Auckland remains the principal destination for these higher-value residential purchases.

Overseas investment more broadly

The $5 million-plus pathway sits within a much larger overseas investment regime. During the 2025/26 financial year, LINZ approved 701 applications, including 451 One Home to Live In applications and 172 other consent applications. Approximately $24 billion of transactions and 106,000 hectares of land passed through the overseas investment regime during this period.

Faster consent processing

One other notable development has been the speed of straightforward OIO applications. The statutory assessment timeframe for a One Home to Live In – residential only application is 10 working days, while the $5 million-plus house pathway has a statutory timeframe of 15 working days. LINZ has previously stated that it aims to assess most applications under the new pathways within approximately five working days.

In our own recent experience, straightforward applications can be processed even faster. Among recent Queen City Law matters, a One Home to Live In application was processed and consent was granted within as little as 24 hours of submission.

Processing times will depend on the circumstances and completeness of each application, but this reflects the increasingly streamlined approach being taken to lower-risk applications.

What does this mean for investors?

These early statistics are encouraging. The new $5 million-plus pathway is already being used by investor visa holders from a range of jurisdictions, while simpler OIO applications are capable of being processed relatively quickly. However, eligibility ultimately depends on the investor, the property and the proposed ownership structure.

Queen City Law regularly assists overseas investors with OIO advice, property transactions, ownership structures and consent applications. Please contact our team if you are considering investing in or purchasing residential property in New Zealand.

Our earlier blogs can be read here:

The Overseas Investment Amendment Bill 2025

Key Update to Overseas Investment

OIO Update – New Rules for Investor Visa Holders

Disclaimer: This article is general commentary only and is not legal advice. Always seek tailored legal advice before making investment or immigration decisions.

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