The exodus of Chinese students from Sydney and Melbourne is costing an estimated AUD60 million in rental income each month for landlords, reports Domain (23 June 2020). Juwai executive chairman Georg Chmiel said the company estimates that the Australian rental market in 2020 would shed around AUD715 million of property-related income 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, adding that on an annual basis, these losses would total nearly AUD390 million. "It's a staggering amount of money that shows how important foreign students are to the property market [in Australia]."