PHOTO: Poly Australia
The golden years of free-flowing Chinese capital finding its way into residential projects in Sydney and Melbourne are unlikely to repeat for a long time, developers and agents say.
Developers such as Poly Australia and Aqualand, which made it to shore in 2014 at the start of the last boom – and stayed – have found their footing in the Australian development scene. But that’s where the buck stops.
“The days of a big Chinese wall of money are probably gone for at least the next couple of years, especially when China capital outflow control and foreign lending restrictions are still intact,” property agent, marketer and ASX-listed N1 Holdings chief executive Ren Hor Wong said.
NSX-listed project marketer Home789 chief executive Walton Chu said: “The typical Chinese developer with overseas money won’t be coming like it did in 2014.
READ MORE VIA AFR