The $2.1 Billion Question: How the New Active Investor Plus Visa Is Taking Shape
A few weeks ago, I wrote about the government’s move to let “golden visa” holders buy property again, provided it’s worth $5 million or more. The change stirred plenty of conversation about fairness, affordability, and foreign investment.
Now that we’ve got more detail from Immigration New Zealand (INZ), we’re starting to see how the Active Investor Plus Visa is playing out, and the numbers are worth paying attention to.
A Visa That’s Actually Working
Since the revised settings came into effect on 1 April 2025, INZ has received 348 applications covering 1,122 people, representing a potential $2.1 billion in committed investment.
Of those:
251 applications have already been approved in principle.
The average approval time is just 26 working days — fast by global standards.
62 applicants have already been granted residency, committing roughly $398.9 million into the New Zealand economy.
That’s serious capital flow, and most of it so far has gone into managed funds and bonds, but it’s likely we’ll start seeing more direct investment into businesses, and, potentially, luxury property.
Two Clear Investment Tracks
The 2025 update introduced two categories, which simplified things for investors:
It’s worth noting that the minimum investment amount dropped from $15 million, English language requirements were removed, and the residency requirements were relaxed for investors who take an active role in New Zealand’s economy.
Where the Investors Are Coming From
The top countries so far include the United States, China, Hong Kong, Germany, and Singapore — showing broad confidence in New Zealand as a safe and stable place to grow wealth. The U.S. alone accounts for over 40% of applications, echoing global trends where high-net-worth investors are diversifying outside traditional markets.
What It Means for Real Estate
Now that these investors can buy property worth $5m+, it’s fair to expect more interest in prestige homes, especially in Auckland and Queenstown, where most qualifying properties sit.
For context, only about 10,000 homes nationwide meet that price threshold, so it’s not expected to distort the broader housing market. But it may reignite top-end activity, benefiting developers and agents who cater to luxury or lifestyle properties.
My Take
In my opinion, this is a smart recalibration. New Zealand is competing globally for investor attention, and by lowering the barriers while keeping the focus on productive investment, we’re striking a better balance.
The data already shows early momentum, with hundreds of millions flowing in within months of the policy shift. For the real estate sector, this could translate to more offshore confidence and, down the track, new energy in high-value developments or lifestyle purchases.
At the same time, the $5m floor price keeps the broader market protected - so everyday buyers shouldn’t feel any immediate pressure from these changes.
It’s early days, but the direction looks positive: capital, connections, and credibility returning to New Zealand’s investor landscape. The next question is whether we can convert those numbers into long-term value - through new businesses, innovation, and jobs.
