Landlords in Sydney and Melbourne are losing an estimated AUD60 million in rental income each month, reports Propertynoise Australia (24 June 2020). Chinese property portal Juwai estimates each city has shed just over $30 million worth of rent a month since thousands of international students rushed home during the onset of the coronavirus crisis. Victoria University’s Mitchell Institute revealed there were 30,291 fewer international students in Melbourne in 2020 compared to last year, and 29,815 fewer students in Sydney. Juwai executive chairman Georg Chmiel said the company’s data estimates that around AUD715 million of property-related income would be stripped from the rental market in 2020 due to the absence of international tenants.“These are back-of-the-envelope calculations for the purposes of illustrating the challenges that landlords face in the short term,” said Chmiel.