Chinese buyers to reach new record in 2016, but pain ahead

The Age

Demand for properties from offshore Chinese buyers is expected to hit record highs in 2016, new data shows. But there could be some cracks ahead for this surging segment of the market. Chinese property portal ACProperty director Esther Yong said the typical offshore Chinese buyer is Ògenerally not [a] big risk takerÓ. Most would have a substantial cash buffer to cover any problems with funding or would consider a smaller lender as an alternative, she said. In the early months of 2016, Sydney-specific searches on the ACProperty site were up 87 per cent.