Chinese buyers consider Australia as their next favourite country after the US to buy homes abroad, reports The Australian (24 April 2014). According to Juwai.com Co-CEO, Andrew Taylor, Chinese homebuyers are predicted to invest as much as $50 billion on overseas property worldwide for 2014. The average budget of Chinese buyers on Juwai for Australian property is estimated to be $3.7m – those seeking more expensive homes worth over $10m – $15m are termed as "super fish" by Taylor. “They have so much money that I can imagine they own more than the Catholic Church," he says. Based on Juwai data, Sydney is the most popular city of choice for the Chinese. Besides favoured suburbs like Epping and Chatswood, other up-and-coming areas are Mosman, Camperdown and East Sydney. However, the most searched Australian regional destination by Chinese buyers was Gold Coast, and Queensland was voted the most popular state.
