A Chinese deflation of global real estate? – China’s latest business and technology news
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Bloomberg reports that a huge commercial and residential real estate development in the Malaysian state of Johor, which borders Singapore, has “hit a roadblock.” The development was supposed to be funded by Chinese developers and retail buyers, all of whom now have difficulties getting money out of China after the government began throttling capital outflows earlier this year.
Bloomberg says that the limits threaten “to take the wind out of residential property sales in cities around the world where prices have been driven in the past few years by buyers from China.”
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