#C, 195 191 Bytes

Should golf down a bit smaller

x,y,i;f(n){for(i=0;i<n;i+=2,puts("")){for(y=n-i;y<n;y+=2,putchar(32));for(x=i;x++<n;putchar(42));}for(i=n-2;~i;i-=2,puts("")){for(y=n-i+2;y<n;y+=2,putchar(32));for(x=i-1;x++<n;putchar(42));}}

We can test it here on ideone

C, 195 191 Bytes

Should golf down a bit smaller

x,y,i;f(n){for(i=0;i<n;i+=2,puts("")){for(y=n-i;y<n;y+=2,putchar(32));for(x=i;x++<n;putchar(42));}for(i=n-2;~i;i-=2,puts("")){for(y=n-i+2;y<n;y+=2,putchar(32));for(x=i-1;x++<n;putchar(42));}}

We can test it here on ideone

#C, 195 Bytes

Should golf down a bit smaller

x,y,i;f(n){for(i=0;i<n;i+=2,puts("")){for(y=n-i;y<n;y+=2,putchar(32));for(x=i;x<n;putchar(42),x++);}for(i=n-2;~i;i-=2){for(y=n-i+2;y<n;y+=2,putchar(32));for(x=i-1;x<n;putchar(42),x++);puts("");}}

We can test it here on ideone

#C, 195 191 Bytes

Should golf down a bit smaller

x,y,i;f(n){for(i=0;i<n;i+=2,puts("")){for(y=n-i;y<n;y+=2,putchar(32));for(x=i;x++<n;putchar(42));}for(i=n-2;~i;i-=2,puts("")){for(y=n-i+2;y<n;y+=2,putchar(32));for(x=i-1;x++<n;putchar(42));}}

We can test it here on ideone