Chinese property buyers are spending less in their offshore purchases in Sydney, London and New York, as a tightening of China's draconian capital control regulations in the past year has reduced the amount of money they can remit overseas, sales agents said. "Most Chinese still have positive long-term expectations for the UK economy and property markets," said Juwai.com's Chief Executive Carrie Law, who expects interest in Sydney to recover. New York would always appeal to Chinese buyers, Law said, reports the South China Morning Post (26 November 2018).
