Data from international property portal Juwai IQI shows enquiries slumped by more than 65 per cent in May compared with April when enquiries surged as Australia emerged from the havoc caused by the Coronavirus pandemic, reports Domain (22 June 2020). May’s slump coincided with Canberra’s push for an investigation into the origins of the novel coronavirus, first detected in China late last year. Beijing retaliated with threats of economic reprisals and Chinese investments into Australia slowed down. Mainland China has been a major source of foreign real estate investment, contributing AUD6.1 billion into the sector in the last financial year alone. “If the situation doesn’t escalate further things will stabilise,” said Juwai IQI executive chairman Georg Chmiel. May’s drop means mainland China now ranks behind the United States and Canada as the largest source countries for investment in property in Australia, according to Juwai IQI data.