Strained relations between Beijing and Canberra are likely to worsen the Australian real estate market that helps support the Australian economy, reports the South China Morning Post (23 March 2020). It is estimated that Chinese investors contribute A$715 million to the real estate sector. The investment figures could weaken this year as foreign students have not been able to return to Australia to continue their studies and landlords in Sydney are losing A$5 million per month in rental income, according to Georg Chmiel, executive chairman at Juwai IQI. Chinese students also made up 28 per cent of the 758,154 international students in Australia at the end of December 2019. "With 75,000 students missing from Australia or 13 per cent of last year's total, the Australian property sector could lose A$715 million in property-related income this year," Chmiel estimated.
