Robert Gottliebsen (“Gotti”) has sounded the alarm again today, warning that Melbourne’s economy is facing a catastrophe if Chinese buyers are unable to settle on their apartment purchases due to regulatory action by APRA, which has forced the banks to raise deposit requirements:
Triguboff’s Meriton dominates the Sydney apartment market having about a 75 per cent market share in the inner city area. He is seeing many Chinese being forced to rescind their contracts but, at this stage, is finding other Asian and Australian investors to replace them…
