Boom May Be at Risk for Australian Apartment Developers: ChartBy
Two of Australia’s largest developers, Mirvac Group and Lendlease Group, have enjoyed surging sales as demand from investors has been buoyant. That could be under threat amid mounting risks that buyers may not be able to complete their purchases because of increased scrutiny of capital outflows from China, and local banks no longer lending to foreign investors, according to a report by Macquarie Group Ltd. analysts. Buyers from overseas represent about 30 percent of pre-sales at Mirvac and about 45 percent at Lendlease, according to the report.
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