Luxury Property Glossary

New Zealand's premier investor visa pathway, requiring a minimum NZ$5 million direct investment into NZ businesses or managed funds. AIP visa holders may acquire residential property above NZ$5 million without being ordinarily resident in New Zealand, subject to Overseas Investment Office consent.

A public sale method where the property is sold to the highest bidder on auction day. The sale is unconditional once the hammer falls. Common for premium and trophy properties where competitive bidding is expected.

A tax rule that applies to residential property sold within a set period of ownership. Under current settings, the bright-line period is 2 years for properties acquired after 1 July 2024. Gains on sale within this period are taxed as income. The main home exemption applies in most cases.

A sale method where the price is determined through negotiation between buyer and seller, rather than a fixed asking price, auction, or tender. Common in the luxury market where unique properties defy easy comparables.

The value assigned to a property by the local council for rating purposes, typically assessed every three years. The CV includes land value plus improvement value (buildings). It is a rating valuation, not a market valuation — luxury properties frequently sell well above CV.

An arrangement where two or more real estate agents jointly represent a property listing. The lead agent manages the listing and pays the platform fee; co-listing agents share representation without additional platform charges.

A private-seller listing managed by NZ Luxury Homes Concierge, where the vendor sells without a traditional real estate agent. The concierge service handles listing, marketing, and enquiry management for a flat fee.

A sale method where buyers submit their best offers by a specified deadline date. Unlike a tender, deadline sales allow negotiation and conditional offers. The seller is not obligated to accept any offer.

Land Information Memorandum — a report from the local council containing all information the council holds about a property, including zoning, consents, rates, and any issues. An essential due diligence document for luxury property buyers.

A tax and immigration status indicating a person's permanent place of residence. Under the Overseas Investment Act, being 'ordinarily resident' in New Zealand is a key test for whether overseas investment restrictions apply to residential property purchases.

New Zealand legislation regulating the acquisition of sensitive assets — including residential land — by overseas persons. The Act requires overseas buyers to obtain consent from the Overseas Investment Office before purchasing residential property, with exemptions for certain visa holders and citizens of Australia and Singapore.

The government body (part of Land Information New Zealand) that administers the Overseas Investment Act and processes consent applications from overseas persons seeking to acquire sensitive land or residential property in New Zealand. Standard decisions are generally issued within five working days.

A listing where the price is not publicly advertised and is provided only on direct enquiry. Common at the upper end of the luxury market where vendors prefer discretion and qualified buyer engagement.

Land classified under the Overseas Investment Act as requiring consent for overseas acquisition. This includes residential land, land adjoining reserves or lakes, land over 5 hectares, and land containing or adjoining the foreshore.

A sale method where buyers submit written offers by a specified deadline. Tenders are typically unconditional and the seller chooses the best offer. Common for premium properties where competitive, sealed-bid pricing is desired.

A property of exceptional rarity, architectural significance, or provenance that qualifies for the luxury market on merit rather than price alone. Trophy assets may bypass standard price thresholds due to their uniqueness and desirability.

The seller of a property. In New Zealand real estate, the term 'vendor' is used interchangeably with 'seller'. Vendor testimonials are reviews from sellers about their experience with the listing agent.