Australians overwhelmingly support a crackdown on Chinese investors buying real estate amid growing concerns over housing affordability, a new survey has found. Eighty-three per cent of Australians believe the government “should restrict the amount of investment in residential real estate that is permitted from Chinese investors”, according to the pollContinue Reading
The trading of debt-riddled property behemoth Evergrande has been halted on the stock market exactly a month since it relisted. On Thursday afternoon AEST, the Chinese property developer entered into a trading halt, according to the Hong Kong stock exchange. At the time of the close, its shares were tradingContinue Reading
Hordes of Asia’s billionaires have lost vast sums amid a crisis in China’s property industry, with some losing as much as three-quarters of their fortunes. Yang Huiyan, chair of property development firm Country Garden Holdings and once the richest woman in Asia, lost more wealth than any other billionaire inContinue Reading
In 2007, Premier Wen Jiabao cautioned that “the biggest problem with China’s economy is that the growth is unstable, unbalanced, uncoordinated, and unsustainable”. He was referring to China’s penchant for over-investment, which was, in turn, driven by the unique Chinese urbanisation and its build-out of hundreds of millions of apartments.Continue Reading
Embattled Chinese property juggernaut Evergrande has racked up A$118 billion worth of debt in the two years since it underwent an urgent restructuring regime. In 2021, the property developer earned the unwelcome title of the world’s most indebted real estate firm after getting into debt to the tune of $A408Continue Reading