Property News · November 26, 2018

Chinese big spenders are curbing their offshore property shopping as tougher capital controls bite


Chinese property buyers are spending less in their offshore purchases in Sydney, London and New York, as a tightening of China’s draconian capital control regulations in the past year has reduced the amount of money they can remit overseas, sales agents said.
“People who may have been looking for a 20-million pound (US$25.7 million) property are now looking to spend 12 million pounds, while people who were looking at 6 million pounds are now looking at 4 million pounds,” said…

Source : South China Morning Post
Read more…Chinese big spenders are curbing their offshore property shopping as tougher capital controls bite

You may also like...