Tough new borrowing laws for Chinese market
For several years, the Australian property market has been an attractive investment option for Chinese investors. In 2014 to 2015 Chinese investment accounted for $24.3 billion of the Australian property market, doubling from the year prior.
Earlier this year, the major Australian banks including NAB, Westpac and Commonwealth bank clamped down on foreign borrowing, making it more difficult for Chinese and other foreign investors to take out home loans. In April, … Read more »