Australia has become a hotspot for Chinese commercial real estate investors, reports Australian Property Investor (20 August 2020). However, the coronavirus pandemic has resulted in the total value of offshore investment plunging by half. Data from Juwai IQI showed Australia had overtaken the United States as China's top commercial property investment destination despite the relative small size of the country's commercial property market. "The preference for Australian assets reveals that country's strong outlook for yields and capital returns, it's close economic ties to Chinese industry, and its long-term outlook for economic and population growth," said Juwai IQI executive chairman George Chmiel.