On a recent Sunday morning in the sun-drenched Australian city of Brisbane, about 50 ‘property tourists’ boarded a bus tour with a difference. The group - all local Aussies looking to purchase their first homes - were shuttled to five new apartment projects where brochures promised they could “capitalise on international deposit defaults” and snap up properties at sharp discounts. The homes were mostly being sold by Chinese investors unable to make settlement on their investments as Beijing cracks down on money flowing out of China and restrictions on Australian banks lending to foreign investors bite, the company ... (full story)