Australian property is increasingly attracting more Chinese homebuyers, says Glenn Stevens, Reserve Bank of Australia's governor as reported by Malaysia Chronicle (11 March 2014). Co-CEO, Simon Henry shares with Malaysia Chronicle some insights on the burgeoning wave of Chinese overseas property investors, stating that Australia comes second after the US in terms of popularity with the Chinese. However, 4 out of the top 10 most searched cities by the Chinese are from Australia: Sydney, Melbourne, Brisbane and Gold Coast. Henry also revealed 4 main drivers for Chinese who seek property abroad – investment, education, lifestyle and emigration – which for the most parts, are vital as part of their retirement strategy. Due to the one-child policy, Chinese place high priority on education to ensure their child is well educated, so their child can in return take care of them in their old age. Safety and security is also a priority, hence the preference by the Chinese for the affluent suburbs in Australia. With Australia's renowned education offerings, large existing Chinese community, and relatively cheap real estate, it's no surprise that the Chinese are coming in droves. According to Henry, Chinese parents are willing to drop anywhere between $1 million – $1.5 million on an apartment for their children. And with China's wealth still in its early stages of growth, its market of 60 million upper-middle-class in China is set to continue burgeoning, which could potentially translate into an even bigger influx of Chinese investors in Australia.