From the Old Goat today:
A Chinese banking expert told me in Melbourne yesterday that the word from the Chinese banks is that the Chinese government’s clamp down on smaller investors taking money out of the country is likely to be eased later in 2017 — hence the scramble by overseas Chinese to re-enter the market now to buy off-the-plan, with settlement some years away.
Although for Melbourne the re-emergence of overseas Chinese as buyers in new developments is a great sign, the city still has an enormous problem in relation to apartments that are almost complete but which overseas Chinese buyers unable to access the money they need to settle the purchase.