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Chinese offload property after failing to keep up with repayments

Michael Smith
Michael SmithHealth editor

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Tokyo | Middle-class Chinese are increasingly selling their properties in Australia and other countries, with some forced to offload their investments at below-market rates, as high interest rates and a sputtering Chinese economy bite, overseas data shows.

For decades, Chinese buyers poured money into high-rise apartments in Sydney, Melbourne and Brisbane, lured by the prospect of quick capital gains in a low interest rate environment.

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Michael Smith is the health editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com

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    Original URL: https://www.afr.com/world/asia/chinese-forced-to-sell-overseas-properties-as-rates-slowdown-bite-20240305-p5fa42