From fortune:

Chinese investors and creditors are selling real estate worldwide to raise cash amidst property crisis. Market freeze could thaw due to motivated sellers. Appraisers have had little recent data due to lack of sales, causing concern over large, unrealized losses. Sales recently occurred in London offices and project in London’s Nine Elms district.galement evaluated as potential distress in the commercial real estate market.

In Australia, Chinese developers are selling off projects as they have largely stopped buying. Notable recent sales include A$250 million site on the outskirts of Melbourne and a Sydney development asset for about A$240 million. Chinese investors are not the only source of distress in commercial real estate markets around the world. Higher interest rates have already led to sales at large discounts in Germany and the Nordic region. A wave of loans maturing in the US is expected to lead to foreclosures and asset sales. However, unlike other markets, motivated Chinese sellers have the most incentive to sell quickly.



Read more: We’re starting to feel the global ripple effects of China’s property crisis