The Property Council of New Zealand says the Government should move to cut red tape to limit damage from the world financial crisis.
The council, representing 550 companies mostly in commercial property, has issued a report called "A Roadmap for Reform".
It sets out a plan to develop the commercial and residential property sector and to secure it from the current economic downturn.
The council says investment decisions in New Zealand are prone to Government interference and politicisation.
It says several statutes cause delays, inhibit growth and add needlessly to costs.
It cites the Overseas Investment Act, the Building Act and the Resource Management Act as overdue for reform, and says what it calls "a stampede to re-regulation" must be reversed.
