Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest

Americans are grabbing their passports and fleeing the country in hopes of leaving the nation’s problems behind. And more are flocking to the picturesque country of New Zealand, famous for its landscapes that served as the backdrop for Lord of the Rings and Avatar. Home prices in the nation are falling, making way for potential bargains—but only the wealthiest foreigners can afford to move there. New Zealand home prices fell for the third straight month in June, nearly hitting a three-year low. Home prices slipped 0.2% in June after falling a revised 0.3% in May, according to property consultancy Cotality’s Home Value Index. And values are now down 0.8% over the past three months, reaching their lowest level since July 2023. For Americans dreaming of an overseas escape, falling home prices might make New Zealand look more attainable than it has in years. But the cooling market doesn’t mean it’s suddenly open season for foreign buyers. Interested American (and any non-native) buyers will have to cough up $3 million to qualify for homeownership. Americans are flocking from the U.S. at a record, mirroring the Great Depression New Zealand has become a hotspot for Americans looking to escape from their country’s problems. In 2025, the U.S. recorded a net negative migration of between 10,000 and 295,000, according to The Brookings Institution. America hasn’t faced negative net migration in the U.S. since the Great Depression, nearly a century ago. Immigration crackdowns, high cost-of-living, economic uncertainty, and a volatile political climate are pushing more to look overseas. Right after President Trump won his second term in 2024, the search “Move to New Zealand” was even trending on Google. Now, more and more Americans are eyeing up new lives south of the equator. New Zealand has received a surge in interest from foreign investors since expanding its rules for migrants. Applications for New Zealand’s Active Investor Plus “golden visa” program