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Rich Chinese turn to foreign property after stockmarket rout

Critics in London, Sydney, Vancouver are blaming them for pushing up already spiralling prices

Published Sun, Jul 12, 2015 · 09:50 PM
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Sydney

REALTORS in Australia, Britain and Canada are bracing for a surge of new interest in their already hot property markets, with early signs that wealthy Chinese investors are seeking a safe haven from the turmoil in Shanghai's equity markets.

Sydney realtor Michael Pallier said that in the past week alone, he has sold two new apartments and shown a A$13.8 million (S$13.9 million) house in the harbourside city to Chinese buyers looking for an alternative to stocks.

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