China Stock Turbulence Will Boost Our Real Estate: Australia’s Treasurer

The newspaper headline is repeated in New York, Sydney, Vancouver, Seattle and London – turbulent Chinese markets could boost real estate prices in foreign markets. China investors buy homes in major cities and also take advantage of immigration programs, including the EB-5 program in the United States which provides green cards to foreigners who invest in job-creating businesses, including real estate development. Australia’s treasurer suggests that the reaction in global markets to the anticipated slowdown in China is a “massive over-reaction.” He anticipates plans to develop infrastructure, led by China’s Asian Infrastructure Investment Bank, will also stimulate economies in Asia and abroad. China’s growth is still strong, but its real estate markets may be at a disadvantage, limited to selling land-use rights rather than outright ownership. – YaleGlobal