Domainfax prays for Chinese property saviour

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Via Domainfax:

China’s Golden Week annual holiday has come around again, and prestige agents are watching keenly in the hope it heralds a return of the foreign trophy-home hunters.

Casting a pall over the market is the impact of last year’s increased taxes on foreign buyers, China’s crackdown on foreign investment in property and a drop in the number of significant investment visas granted to foreign investors.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.