Up to half of Chinese buyers leave apartments vacant

By Simon Johanson
Updated August 23 2017 - 10:18am, first published 10:08am
MELBOURNE, AUSTRALIA - MARCH 09:  Early moring light falls on the city skyline before a media preview for the Moomba Masters waterskiing and wakeboarding events on March 9, 2017 in Melbourne, Australia.  (Photo by Darrian Traynor/Fairfax Media)
MELBOURNE, AUSTRALIA - MARCH 09: Early moring light falls on the city skyline before a media preview for the Moomba Masters waterskiing and wakeboarding events on March 9, 2017 in Melbourne, Australia. (Photo by Darrian Traynor/Fairfax Media)

A quarter of Chinese buying property overseas leave their apartments vacant and the majority pay for their purchase with cash, a survey of mainland Chinese customers by investment bank UBS shows.

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