Up to 80% of all property transactions in Australia concerning Chinese buyers have been affected by newly-enforced regulations which limit overseas transfers from China to $ A$12.4 billion . As Bloomberg notes, Chinese buyers were approved to buy A$12.4 billion ($9.9 billion) of Australian real estate in 2013-14, the Foreign Investment Review Board said in its annual report, without differentiating between commercial and residential property. The regulations have been introduced in a bid to control capital outflows after 2015 ’s disastrous stock market crashes. Australia is currently China ’s largest trade partner and dominates the country’s property market; in the wake of such regulations, Greeks recently recorded its lowest auction clearance rate for 2015 and experts predict further property price drops.
Up to 80% of all property transactions in Australia concerning Chinese buyers have been affected by newly-enforced regulations which limit overseas transfers from China to $ A$12.4 billion . The regulations have been introduced in a bid to control capital outflows after 2015 ’s disastrous stock market crashes. Australia is currently China ’s largest trade partner and dominates the country’s property market; in the wake of such regulations, Greeks recently recorded its lowest auction clearance rate for 2015 and experts predict further property price drops.