Thousands of high-end flats bankrolled by Chinese developers lie unfinished and unsold as Chinese developers have come under pressure from Beijing’s “three red lines” rules, according to an FT analysis.
The three red lines rules seek to curb excessive leverage across the property sector by limiting the amount companies can borrow.
Between 2013 and 2018, buyers from mainland China and Hong Kong poured close to £3.5bn into London, accounting for almost the entire flow of cross-border investment into the city’s land in 2017, according to Real Capital Analytics.
