Chinese developers abandon “dire” Australia

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Wish me luck as I wave you goodbye! Via the AFR:

Chinese developers are steering away from expensive inner city site purchases for apartment projects as they wait out the housing downturn and the uncertainty of next year’s federal election.

At the height of the boom in and around 2013 to 2015, many Chinese developers including Greenland, Golden Horse, Country Garden, Aqualand and Dalian Wanda paid top prices for apartment sites, but now that tide has turned.

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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.