Credit Suisse analysts Damien Boey and Hasan Tevfik in a client note
- Chinese demand seems to have flattened out
- Cyclically poor condition of the Chinese middle-to-upper class which is driving the slowdown in property buying abroad
(What that means is the economic slowdown in China is impacting on the ability of Chinese to buy property)
I reckon the CS guys are right, but they might be a bit slow to the news and might also have missed some of the other developments that have limited Chinese buying
- Chinese purchases of Australian property have dropped significantly in the past month
- Buyers struggle to shift money out of the country following Beijing's move to tighten capital controls
Also, we've seen the Australian government crack down on foreign buying of houses, which will also be impacting (note ... allowed to buy newly built projects)
