China homebuyers are turning to Australia amidst the US-China trade war and rising US dollar, reports Domain (24 July 2018). Despite Australia's latest increase in foreign buyer taxes, Chinese property investors are still eyeing Australian property as an ideal pick over the US right now. According to Chinese international real estate platform Juwai.com, the falling Aussie dollar against the Chinese currency – when compared against the strengthening US dollar against the Chinese Yuan – is helping to turn Chinese sentiments back towards Australia. “High net worth Chinese buyers have been less active in Sydney than in 2016, but these are the buyers most sensitive to political disputes, and the trade war already seems to be pushing Sydney back to the top of their list,” said Carrie Law, CEO of Juwai.com. ”Many are suspending or reducing their investment in American property while the politics gets sorted out, to take advantage of Australia’s weaker currency and relative buyer’s market.
