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Chinese investors who have borrowed from the bank to buy a house abroad are facing a double-whammy as they contend with an economic slowdown at home and surging interest rates across the globe that are hampering their ability to pay for their purchases, according to analysts.
Almost half of the $1.5 billion approved residential real estate investment proposals came from the buyer cohort.
The latest FIRB figures show numbers of apartment buyers from China and Hong Kong are falling. It’s partly the economy, but taxes are playing a big role.
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A new era of capital flight has begun | Finance & economics