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 $50,000. The regulations have been introduced in a bid to control capital outflows after last month’s disastrous stock market crashes. One Chinese agent said the latest efforts by the central government to avoid large capital outflows were having a "significant impact" on his business. In the wake of the crash, foreign investors are being forced out of Australian markets and into other countries such as Hong Kong, Singapore or New Zealand.
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 $50,000. The regulations have been introduced in a bid to control capital outflows after last month’s disastrous stock market crashes. In the wake of the crash, foreign investors are being forced out of Australian markets and into other countries such as Hong Kong, Singapore or New Zealand.