Chinese Government Wealth Seizes - Impact on Property?

[C-mac]

Came across this piece today in the SMH:

http://www.smh.com.au/world/austral...orrupt-chinese-officials-20141020-118kl3.html

After reading through this article (and if all assertions/assumption made within it, have integrity); one must wonder; could this have significant impact on Chinese demand Australian market?

This then broadens out to a question few officials are asking (but many are thinking): Just how much of incoming money into Australian property by Chinese nationals is legitimate, and how much is corrupt?

It would be interesting to see if this develops and translates into more accountability of incoming monies into Australian property buying by foreign nationals (on both sides - the Australian government, along with the Chinese and other national government of the funds of origin).

 

[Scott No Mates]

So if the funds have been transferred illegally into Aus, the transaction is fraudulent, then does the vendor need to repay the purchaser and the sale voided? Vendor repay the Chinese govt? The Crown repay the Chinese govt? or does the Crown simply compulsorily acquire the sites without compensation as the money for purchase was the proceeds of crime?