Juwai IQI Executive Chairman Georg Chmiel advised investors who already own property in Australia and are suffering due to the lack of international students to hang in there for another six or 12 months, reports Elite Agent (13 November 2020). Chmiel was commenting on the Mitchell Institute's report on COVID-19’s continued impact on Australia's intake of international students. The report revealed that applications for international student visas were approximately 80–90 per cent below the same time in 2019. “It will be pain before gain,” Chmiel explained. “Student numbers are likely to keep falling and vacancies to keep rising until mid-2021. Then, we believe student numbers will climb to higher than their 2019 peak.