Get Over It, page-9

Well - for Sydney and Melbourne - this could be a whopps of massive proportion

City apartment anyone --- lets say maybe $100k - can you do that?

Now - who says the rules never change?


This is an article about the bloke who 'actually' changes the money from China - and, his take is basically that - money has been pouring in from China for city apartments --------

but, only for the deposits - and, that in his view - there is a very high possibility that they won't be able to get the balance out -------

if you want a crash nightmare - this is it


Whatever you believe -- it is going to be a very interesting next year or 2 in city property - if this actually happens ------------ well, I have sympathy for anyone who has a mortgage already settled on something.


oh dear!


http://www.theaustralian.com.au/new...e/news-story/499b31af07d2c56a3262d77924bb1a15



"Andrew Su is holding off buying an apartment. During the past 18 months, the foreign exchange trader and chief executive of Compass Global Markets has watched as clients have endured more and more difficulty getting money out of China. He is worried about what this means for his own investment plans.

“What is the likelihood these offshore buyers are going to have problems settling on their apartments,” the Vietnamese-born businessman asks Inquirer. “Very high,” he says, answering his own question.

“There is increased regulation of financial markets in China and it’s only going to become more stringent … offshore buyers may have been able to pay their 10 per cent deposits, but when it comes to settling on a property, I don’t think they’ll be able to get their money out.”

The Sydney-based businessman admits he’s more alarmed than most. His role facilitating the cash transfers on some of the country’s biggest real estate transactions against a backdrop of increasing scrutiny of foreign investment has put him in the box seat to witness the growing challenge some buyers are having moving cash across borders.........................."