Andrew Taylor, 44, who helps run Juwai.com, a four-year-old Shanghai-based real estate platform catering to Chinese clients seeking homes overseas, said: “Chinese consumers used to come to us and say, ‘Where can I buy with $500,000? Now they are looking at three or four countries at the same time.”
Juwai, which means “Live Abroad”, says it has more than 4.8 million property listings in 58 nations. There is no shortage of clients: 60 percent of China’s wealthiest are contemplating a move, the site says.
Simon Henry, co-founder of Juwai.com, which matches Chinese investors with international investment opportunities, including 2,775 current Australian agricultural listings, said the new rules will make Australia less competitive for foreign investors, according to a report by the state-owned broadcaster ABC.