Chinese investors pay A$88.88m for Sydney property

Chinese investors pay A$88.88m for Sydney property

Business sense suggests you try to buy property at the lowest possible price, but that was not the case for one property in Sydney, Australia.
It was just bought by Chinese buyers for A$88,888,888.88.
The number eight is considered lucky in Chinese as it sounds like the word for "prosperity".
That luck might come in handy - the deal comes just as Sydney was awarded the fourth spot on UBS's global housing bubble index.
Sydney follows Vancouver, London and Stockholm in the ranking which seeks to identify the world's most risky real estate markets.
The lucky price of A$88,88m... read more

28 September 2016 in Business, Views: 44
Source: BBC

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