Chinese property developers have dismissed claims that Asian investors are artificially inflating local house prices, The Australian Financial Review reports.
Johnson Zhang, the head of prominent developer Country Garden, said there was an irrational “fear of foreigners coming to Australia to help it develop.”
“I feel [the house price] debate has errors,” he told the AFR. “Remember, foreign investors including Asians can only buy new properties. There is a huge second-hand market with enough housing there for locals.”
China’s Greenland Group echoed similar sentiments, suggesting that an influx of Asian developers was helping bring new housing supply to the market.
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Leading developers say claims Asian investors inflating Aust property prices are flawed: report.
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