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