Regulation of residential property in the West: The impact of Chinese money

Publication Type

Book Chapter

Publication Date

12-2022

Abstract

The narrative of Chinese real estate investors in some western jurisdictions reads like this: China has, in recent decades, enjoyed burgeoning wealth creation across all strata in society. Chinese buyers are attracted to a ‘westernised’ education for their children, an agreeable and law-abiding civic society all whilst living in a clean and pleasant environment. Western property markets are seen as safe havens and bringing about portfolio diversification. This flood of Chinese wealth has impacted residential housing markets resulting in locals being outpriced. To combat unaffordability and housing shortages, governments have had no choice but to impose regulatory measures preventing foreign (mainly Chinese) capital from overrunning the market. Is this story cogent? This chapter explores the propriety and logic of some of the articulated housing policies that have led to legislative amendments made by governments in Australia, New Zealand and Canada, purportedly in response to the fact that Chinese nationals have been driving up prices in their residential markets.

Keywords

Housing policy, real estate investment law, comparative law, China

Discipline

Asian Studies | Housing Law | Property Law and Real Estate

Research Areas

Private Law

Publication

Trusts and private wealth management: Developments and directions

Editor

Richard Nolan, Hang Wu Tang & Man Yip

First Page

46

Last Page

68

ISBN

9781009049399

Identifier

10.1017/9781009049399.005

Publisher

Cambridge University Press

City or Country

Cambridge

Additional URL

https://doi.org/10.1017/9781009049399.005

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