Tighter regulations in China and Australia has led Chinese real estate investors to switch from Australia to other countries, such as Thailand, reports Business Insider (13 August 2017). Juwai.com, China's largest overseas real estate website, reported a drop in interest from Chinese buyers due to new property taxes, loan restrictions from Australian banks for foreign buyers, and tighter Chinese capital controls. "Some Chinese buyers have clearly shifted their focus from Australia to other countries. Chinese capital controls have contributed to the constrained environment and made inexpensive countries like Thailand look more appealing," said Jane Lu, Head of Operations and Marketing Australia and New Zealand at Juwai.com. However, Lu stressed that while Chinese buyers have dropped a third in 2017, it could still be the second best year on record, especially as Australia remains the second-most popular country for mainland homebuyers on Juwai.com. "When you compare the price of similar property in Australia and China, Australia still offers good value. It looks cheap to them. But they feel that the Australian governments don't want them here," said Lu.
