The continued interest in Australian property from Chinese buyers was highlighted by Jimmy Wong, the sales director of leading Chinese international property portal Juwai. According to Juwai IQ data, the United States continues to be the number one market for Chinese property investment, with Australia being the second most popular market in terms of both the amount of money being spent on property and the volume of buying enquiries. "Factors affecting demand include the rising wealth of Chinese consumers, which is the primary driver of Chinese investment [in Australian property]," Mr Wong said, adding that there are now more US$1.6 millionaires living in mainland China and that that number is only expected to increase given that wealth per adult has more than quadrupled over the last six years, reports Mortgage Business (5 November 2018).
