Bubble danger: A house for sale in Christchurch. New Zealand will spend billions of dollars to encourage more home building and will remove some tax breaks for speculators as it tries to slow skyrocketing house prices. — AP
WELLINGTON: New Zealand’s government took aim at property speculators with a suite of new measures to tackle runaway house prices and prevent the formation of a “dangerous” bubble.
The government will remove tax incentives for investors to make speculation less lucrative and unlock more land to increase housing supply, Prime Minister Jacinda Ardern said yesterday in Wellington.
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