Can you own the Land and the House in NZ if you are a foreigner? Or can you only lease it for 99 years?
THanks,
MikeI believe you can own it, only if the land is classed as “freehold”. If it’s “leasehold”, this is where you lease it.
Regards,
OziYes, you can own the land as an Aussie. There are guidelines. I posted this a long time ago here. I can’t be bothered digging it out, it is all there for you to find and read.
The average investment property or commercial property is fine to buy.
I think you might be talking about crossleased land schawel, which is a kind of subdivision. Instead of dividing a piece of land onto 2 titles, you OWN a half share of the TOTAL land, so it’s a combination of a freehold land title, and a 99 year lease. Now I don’t understand why owners don’t just subdivide properly, but I can only guess that it was some kind of cheaper option, or you could do it with smaller bits of land, because it’s very common in NZ. The cross lease thing is because there is quite often a shared area such as an accessway which all pieces that have a chunk of the larger title share the rights of access to.
You can do a google search on crosslease and you will find some info.
I also think it’s a bit like if you own an apartment in a block, here, you own your apartment plus a share of the land.
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