Foreigners are to be banned from buying homes in New Zealand after a spate of millionaires seeking luxury doomsday boltholes has apparently crowded out local buyers and pushed up property prices.
Following purchases by rich expats, including tech billionaire Peter Thiel - PayPal founder and early Facebook investor - and disgraced former NBC host Matt Lauer, who lost his job after allegations of sexual misconduct - the New Zealand government is preparing to crack down on the trend.
New - Zealand - Allure - Planning - Space
New Zealand's allure for the mega-rich planning a safe space to ride out the apocalypse has become almost a cliche in recent years. LinkedIn co-founder Reid Hoffman told The New Yorker last year: "Saying...