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Chinese homebuyers shun Australian market as coronavirus, political tensions take toll

When mainland Chinese resident Susan bought an off-plan flat in Melbourne’s new high-end West Side Place development in 2017, the Nanjing-based property investor’s plan was to rent it out upon its completion next year.She shared the strong Chinese appetite for property – particularly flats in Australia – that sent the sector in Sydney and Melbourne soaring during a five-year boom between 2013 and 2017, when home prices rose as much as 70 per cent.But despite her desire to own more flats, Susan,…

Read the original article at South China Morning Post

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