On page 3 of the Australian Financial Review on 15 December 2016 is a story titled "Big discounts to lure Chinese unit buyers." It says that property developers are discretely offering discounts on new apartments in Brisbane and elsewhere to Chinese buyers, in a sign that lending restrictions and oversupply are beginning to affect prices.
Price discounts of up to 7% are being offered on Chinese property website fang.com.
An example is given of discounts on apartments in the Brisbane One complex near South Bank. For a two bedroom apartment of 86 sqm, there is a $40,000 discount, so that the price is now $675,000. To me, that discounted price seems to be over-priced!
"The market has slowed down a lot over the past six months and recently the only deals that are moving are those with big incentives."
A real estate agent reported that a number of his clients in Shanghai had been unable to obtain finance and therefore could not settle, and so lost their deposit.