1. It is banning non-residents. You can be a national from any other country and still buy a house if you live there.
2. Watered down by interest groups: https://www.reuters.com/article/us-newzealand-economy-housin...
2. Watered down by interest groups: https://www.reuters.com/article/us-newzealand-economy-housin...
This is where you setup a local trust, and purchase the property through that trust (and not a non-resident).
People can also still purchase properties through local proxies.