Look Out Manhattan – Chinese Foreign Real-Estate Spending Plunges 82% – 08.12.17

 

  • Earlier this month, Morgan Stanley warned that commercial real estate prices in New York City, Sydney and London would likely take a hit over the next two years as Chinese investors pull out of foreign property markets.
  • The pullback, they said, would be driven by China’s latest crackdown on capital outflows and corporate leverage, which they argued would lead to an 84% drop in overseas property investment by Chinese corporations during 2017, and another 18% in 2018.
  • Sure enough, official data released by China’s Ministry of Commerce have proven the first part of Morgan Stanley’s thesis correct. Data showed that outbound investment in real estate was particularly hard hit during the first half of the year, plunging 82%.

Read more at:Look Out Manhattan – Chinese Foreign Real-Estate Spending Plunges 82%

Source: zerohedge.com

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