Although Chinese buyers are being offered discounts on Melbourne apartments in a bid to clear stock, Chinese are more interested in house and land packages, reports (17 December 2016). This is because land appreciates in value whereas buildings depreciate in time, and land is something extremely difficult for Chinese property investors to obtain back in China. According to Juwai IQ Data, Melbourne is much more sought-after than Sydney. According to CEO Charles Pittar, “Every time that a Chinese buyer made a purchasing inquiry in Sydney in November, three did so in Melbourne. A year ago that ratio was 2.5. We see three big driving factors for the imbalance: new home supply, education and prices.”