As property tide turns, Chinese want their money back

Wednesday, 14 November 2018

We have seen the ebbing demand of Chinese buyers as its capital account shuts:

We have heard the settlement issue up close and personal on the ABC. Fast forward to Sally at 24 minutes who is a realtor managing some large settling apartment blocks in South Bank, Melbourne. Her story of Chinese buyers left high and dry should give everyone pause for what’s coming down the pipe in terms of defaulting developers and forced stock sales.

We have seen the big price falls in prestige property where the Chinese used predominate, at News.com.au:

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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.