Chinese buyers are buying Australian properties as house prices slump due to the Coronavirus pandemic, reports Propertynoise.com.au (13 May 2020). The median house price declined 10.2 per cent in Sydney while Melbourne forecast a 9.2 per cent drop. Many mainland Chinese see this as an opportunity to buy Australian real estate. According to Juwai IQI executive chairman Georg Chmiel, while China bounced back from the pandemic early, Australia appears to have avoided a mass outbreak. Chinese buyers find this appealing.
