The volume of purchases by Chinese buyers dropped 26.8% to US$17.4 billion in 2017, from US$24 billion in 2016, according to Juwai.com, reports The Australian (7 September 2018). Carrie Law, CEO and Director of Juwai.com said, "Capital controls, restrictions on bank financing to offshore buyers and new foreign buyer taxes and restrictions all served to reduce Chinese investment last year". She adds that her Chinese clients still see Australia as having long-term value as they often buy homes because of children in Australia, they plan to visit regularly or to retire there.
