New Zeland's real estate market has been on fire just like Canada. It posted a 30% increase through June, very similar to our market outside of downtown Toronto, which is also seeing more activities now. New Zealand has already raised the minimum downpayment requirement, especially for investors. The effect has been minimal however. Now it has proposed to take further measures. It is now considering raising interest rate, implementing an interest floor, reducing bank's lending and limiting the amount a person, especially an investor, can borrow. It is trying to make is even more difficult to borrow in order to cool down the overheated marketing, without squashing it.