These are the sort of homes foreigners can buy with $5m

Saturday, 6 September 2025

New changes announced by the Government mean foreigners with a few million dollars to hand will now be able to buy or build one home worth at least $5 million in New Zealand.

Since 2018, foreign buyers have been largely blocked out of the housing market when the Labour-NZ First coalition imposed a ban amid rising concerns about affordability.

Now, this ban has changed, allowing foreigners who hold the Active Investor Plus Visa to buy or build New Zealand’s luxury real estate.

But what makes a house worth $5 million and up?

Cameron Winter, the managing director of luxury estate agency Oliver Road, said that what really determines the price is the underlying land value of a property.

“What drives the price more than anything else is land value, and that comes down to supply and demand. People pay to be close to the lake, or simply to live in this environment,” Winter said.

In Queenstown, for example, land alone can start at $3m to $4m, with the luxury market beginning at around $4m to $5m.

Features of luxury properties differ, but Winter said most tend to have luxury amenities such as wine cellars, hidden rooms, home cinemas or swimming pools. The architecture, build quality, and materials can also make a difference.

“These homes are often designed and built by some of the best architects and builders in New Zealand and beyond.”

But what truly makes a luxury home according to Winter, is their liveability.

“Nobody has to buy an $8m property. Like any luxury item, people only part with that money if they feel inspired by it, taken by it and feel like it’s a place they can live.”

So let’s have a look at some of New Zealand’s $5m homes to see what will attract our wealthy visa-holders.

Wellington

With five bedrooms, four bathrooms, a wine cellar, a tennis court, and a heated swimming pool, this Karori property is on the market for enquiries over $5.75m.

This home can only be described as disgustingly beautiful. From the grand entryway to the swirling staircase, seamless indoor-outdoor flow, and walls made for art, I’m officially jealous.

This home is for a family with a taste for fien things – and wine things. With storage for more than 1500 bottles of wine in your personal wine cellar and tasting room, splurging on rare vintages and luxury charcuterie boards seems to be not just possible, but mandatory.

Wairarapa

Tucked away in the serene Wairarapa, this gated 3.1-hectare lifestyle block comes loaded with luxury: more than six bedrooms, a home gym, private cinema, swimming pool and tennis court.

Despite its secluded setting, you’re only minutes from golf courses, fly-fishing rivers, hiking trails and mountain biking tracks.

The takeaway? This part of the world is a playground for athletic millionaires – or those aspiring to be. With a pool, tennis court and bike racks, parents could just as easily train the next generation of tennis prodigies in their own backyard.

And if motivation is ever lacking, the floor-to-ceiling windows plastered with motivational quotes should do the trick.

With an estimated value between $5.32m and $6.14m, it'll make a hefty dent in the bank balance but at least you’ll never need to pay for a gym membership again.

Queenstown Lakes District

This four-bedroom, three-bathroom estate was once a humble brick home. Now? It’s had an architectural glow-up with an expansive master suite and a green roof with native flora to match the alpine vegetation on Coronet Peak.

Inside, you’ll find triple-glazed everything, a wine cellar, even a semi-commercial “hidden” kitchen – perfect for when your private chef pops by.

Outside, it’s less backyard, more resort: a swim spa, fireplace, manicured lawns, and a greenhouse so fancy that award-winning local restaurants have used it for their cuisine.

In short, if you have a spare $8.35m to hand and you’ve become accustomed to the best, this place is ready to ruin you for ordinary homes forever.

Auckland

This concrete fortress with an asking price of $6.85m comes wrapped in Versace wallpaper and floored in Italian tiles – because why stop at wearing designer when your walls can too?

With 8000sqm of land, there’s enough room for a cinema, four bedrooms, three bathrooms, a putting green and garaging for three cars. The only thing missing is the helipad.

Don’t like the quiet? Don’t worry. The house’s seven-zone sound system means you’ll never have to live without music, whether you’re in the scullery or out on the putting green.

In short: if Bond villains retired in Mahurangi East, this is where they’d live.

Christchurch

If Versailles and Cape Town had a baby, it would look a lot like this. With stonework straight from a stately chateau and proportions to match, this $6.815m Cape Dutch-inspired home inspired is less “family home” and more “mini estate”.

The kitchen is proportioned for banquets not breakfasts, and the log-burner lounge opens to north-west facing terraces. There’s also a media room, a gym and a sauna for good measure. Tragically, there’s no pool.

Guests even get their own self-contained house in the lush green garden so they can play lord or lady without intruding on your empire.

On 1227sqm of manicured grounds and zoned for the city’s best schools, this isn’t just a home – it’s a dynasty in the making.