New taxes and purchasing limits in Australia are deterring foreign property investors, reports China Daily Asia (14 March 2018). However, Carrie Law, CEO of leading Chinese international real estate website Juwai.com has a differing opnion. “Chinese buyers are still taking one-fifth of all newly constructed apartments. These are the buyers who are keeping the construction industry at work and making it possible for new buildings to go up," said Law. She further explained that China's fast-growing wealth is spurring Chinese overseas property investment. “For the first time, there are now 1.6 million US-dollar millionaires in China. Wealth per adult in China has more than quadrupled over the past six years," said Law.
