See ya. Chinese property buyers decouple from Australia

Monday, 12 October 2020

Fantastic news. From my old sparring partner, Su-Lin Tan, who moved from the AFR to SCMP:

When mainland Chinese resident Susan bought an off-plan flat in Melbourne’s new high-end West Side Place development in 2017, the Nanjing-based property investor’s plan was to rent it out upon its completion next year.

She shared the strong Chinese appetite for property – particularly flats in Australia – that sent the sector in Sydney and Melbourne soaring during a five-year boom between 2013 and 2017, when home prices rose as much as 70 per cent.

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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.