The Ministry of Commerce of the People's Republic of China (MOFCOM) recently reposted an article by The Australian, who reported that Australia has become the second largest and most sought after country after the United States for Chinese purchasing homes abroad (24 April 2014). According to Andrew Taylor, Co-CEO of Juwai.com, overseas Chinese investment on properties abroad is likely to reach A$50 billion. Over 2.7 million Chinese currently have homes worth $1 million overseas, says Taylor. He also added that there are 60 million middle-class Chinese in China who are keen to invest in homes abroad. At present, Juwai.com receives 1.5 million visits each month – and each visitor on average is willing and able to invest A$3.7 million in Australian property. To date, Queensland is the most popular destination for Chinese buyers, followed by New South Wales. [Original article in Simplified Mandarin.]
