There are more reports Chinese buyers are having problems settling on their Australian properties [The Business Insider]
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Source: The Business Insider
There are more reports Chinese buyers are having problems settling on their Australian properties There are more reports surfacing that Chinese investors are struggling to settle on their Australian property purchases, hindered by tighter lending restrictions from Australian banks and a crackdown on capital outflows by Chinese regulators. And that's led to some investors forfeiting their deposits, or having to sell their property at a loss. According to Ming Li, a real estate agent in Melbourne's eastern suburbs who specialises in selling Australian property to Chinese investors, around 80% of Chinese buyers will not be able to settle on their properties because of trouble obtaining finance. "The Melbourne apartment market is cooling down," he told the Australian Broadcasting Corporation. "It is kind of the oversupplied market, and the Chinese investors are losing their interest in buying an apartment in Melbourne. The capital gains return is so low." Li says that a major factor hin
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