Australia's biggest city centres see the collapse of rental prices as international students are locked out, reports Newspaper (22 November 2020). Border closures since March have caused vacancy rates to surge in central business districts and inner suburbs of Sydney and Melbourne. Georg Chmiel, the executive chairman of Chinese real estate sales site Juwai IQI, said the lack of international student arrivals, for now, was bad news for property investors. "Chinese buyer enquiries are down to just half the level of a year ago," he said, noting that these numbers correspond with the drop in student visas. "If you're looking to take advantage of this dip in the market, then the best opportunity is most likely to purchase in the hardest-hit suburbs from an owner who can no longer afford to carry the property with the lower prevailing rents," he added.