SYDNEY: Australia’s “spring-selling” real estate season is seeing a defiant return of Chinese buyers who are undaunted by lending restrictions aimed at curbing their interest in the country’s sky-rocketing housing market. Financiers and estate agents say Asian investors have found new avenues to re-enter the market, including targeting cheaper homes and settling in cash. Others are turning to groups of wealthy individuals or foreign-owned banks for loans, after Australian banks turned off funding to overseas buyers this year.
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A sold sticker is attached to a real estate agent’s sign outside the front of a residential property in central Sydney, Australia, November 22, 2016. REUTERS/David Gray