SYDNEY: Realtors in Australia, Britain and Canada are bracing for a surge of new interest in their already hot property markets, with early signs that wealthy Chinese investors are seeking a safe haven from the turmoil in Shanghai’s equity markets.
Sydney realtor Michael Pallier said in the past week alone he has sold two new apartments and shown a A$13.8mil (US$10.3mil) house in the harbourside city to Chinese buyers looking for an alternative to stocks.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!