You are here

On Gatsby's north shore, Chinese luxury home buyers pause as curbs bite

Over the past eight months, Beijing has introduced a series of measures to make it more difficult to move capital out of the country

BT_20170511_HOMES_2880129.jpg
A home in the Old Westbury section of Long Island. "The money suddenly dried up last year," said Lois Kirschenbaum, a broker specialising in luxury homes in the area, a place favoured by Chinese.

Jericho, NY

AMONG the sprawling colonial homes and well-tended lawns on the north shore of New York's Long Island, there are signs that Chinese policies crafted 11,000 kilometres away are taking a toll.

In the past year, there has been a slowdown in the stream of affluent Chinese

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom