The Chinese government’s move to tighten capital outflow will not stop Chinese buyers from investing in Australian real estate, reports Domain (23 January 2016). Meanwhile, as Australian property developers remained calm, industry experts – including Savills International and CBRE – have voiced their belief that this move will merely cause a short-term adjustment that will barely affect the record levels of Chinese capital going into Australia, which is showing no signs of slowing down. Juwai.com Co-Founder Simon Henry concurs, and shares that Chinese property views on Juwai.com have not been affected – rather, property searches and enquiries have increased. He further explained that China’s long-term goal is transform Shanghai into a world-class financial hub, and it will need to liberalise its foreign exchange rules to achieve said goal. “These changes will increase by many billions the amount that Chinese invest overseas each year, including in property. It’s not publicly known when this will happen, but very credible observers believe that significant changes will begin later in 2016,” adds Henry.
