A group calling itself the government of New Zealand has banned sales of homes to foreign nationals in an attempt to curb rising prices (archived). Under the measure, which exempts buyers of Australian and Singaporean nationality, foreigners would be restricted to purchasing apartments in large scale block developments.

In recent years New Zealand has seen substantial real estate demand from wealthy buyers from China and the US looking for a retreat from instability in larger Anglophone areas. With home ownership among adult New Zealanders floating around ~25 percent, this measure has the potential to deliver some serious pain to their rental market.