1. Real estate transactions in New Zealand are straightforward and inexpensive. Sellers pay a 3 per cent agent commission and buyers pay only legal fees, which range from about US$767 to US$958 for a typical transaction

2. No transfer tax is due to the government when property changes hands

3. There is no Capital Gains tax

4. Foreigners may buy most properties without restriction

5. Potential foreign buyers may need to apply for approval from the Overseas Investment Office only if the property is considered "sensitive" land - for example large parcels of waterfront land or land adjoining nature reserves

6. Contact the Overseas Investment Board to find out if you require consent, or consult a lawyer significant experience in overseas investments

7. It is also recommended that investors ask for a full property memorandum on the property which will cover the certificate of title, annual rates, and the land memorandum report

8. Most mortgages in New Zealand have a fixed introductory rate of one to five years, after which they fluctuate

9. Annual property taxes amount to approximately US$2,580.

Source: LP Luxury Properties - For more information visit: www.linz.govt.nz