Property News · January 2, 2017

China’s newly-tightened forex rules unlikely to stem overseas property binge, say analysts


New rules that prohibit mainland Chinese residents from converting yuan into foreign currencies for overseas property purchases are unlikely to derail the rising interest in purchasing overseas homes — nor have a meaningful impact on foreign home transactions, according to experts.
While the curbs may deter some buyers, market watchers say investors will continue to find ways around the controls amid rising demand for offshore real estate.
China’s foreign exchange regulator said over the…

Source : South China Morning Post
Read more…China’s newly-tightened forex rules unlikely to stem overseas property binge, say analysts

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