FutureCast Forum Members Array Top Ten Reasons Why Seattle is So Popular
Ni Hao, Seattle! We’re number one in the eyes of mainland Chinese homebuyers exploring overseas investment in real estate. That’s according to Juwai.com, a popular home search site within China, and this finding is tracking with other data points according to local brokers that specialize in international homebuyers.
A recent Property Report in Wall Street Journal explores the impact that China government-issued capital controls are having on Chinese investors, using insight from Realogics Sotheby’s International Realty broker and Asia Services Group member Dehlan Gwo for his expert insight. As the article reads, “individuals have long faced curbs on overseas investments, but have figured out ways around such limits.” Will the same be said for buyers facing the latest round of controls?
According to a recent Geekwire feature, Baidu, the top search engine in the Chinese language, has opened an office the Seattle area as an effort to expand its reach in Artificial Intelligence and Cloud Computing. Situated in downtown Bellevue, the new office reportedly has space to accommodate upwards of 40 engineers within one year, depending on the rate at which they are able to bring top industry workers to the company. The move comes as Baidu continues to expand beyond the bounds of search, “in areas ranging from financial services to artificial intelligence – seeking breakthroughs in computer vision, speech recognition, deep learning and natural language understanding.”
First Luxury Residential Real Estate Brand to Showcase Property Listings Outside of Japan
Sotheby’s International Realty Affiliates LLC has announced an exclusive alliance with the Nikkei, the most influential news publication in Japan, through the end of 2017. The alliance enables the luxury residential real estate brand to generate Japanese buyer interest through the Nikkei’s digital platform which reaches over 29 million monthly readers. The Sotheby’s International Realty® brand is the first real estate brand to present property listings outside of Japan to readers of the Nikkei, giving Japanese consumers access to residential real estate offerings in nearly 70 countries and territories.
Marc Stiles of Puget Sound Business Journal reached out to Dean Jones, president and chief executive officer of Realogics Sotheby’s International Realty, recently for his insight on the markets in Vancouver, BC and Seattle, and the influence of the foreign buyer tax on the former’s overseas buyers. “Brokers at Realogics Sotheby’s International Realty in Seattle are seeing more inquiries from Asia, but the number of transactions are either holding steady or dropping some,” Stiles writes.
Keynote Address Highlights FutureCast Forum’s Findings About Seattle and Bellevue into 2020 and Beyond.
In alignment with the Golden Week holiday season, Dean Jones, President and Chief Executive Officer of Realogics Sotheby’s International Realty (RSIR) was invited as a keynote speaker for Cathay Bank on October 5th to share his knowledge on the Seattle and Bellevue markets, and discuss foreign investment trends coming from Asian homebuyers overseas.
This year, Mainland Chinese citizens and residents have been enjoying a double holiday: the Moon Festival was immediately followed by China’s National Day holiday this year, making it an eight-day Golden Week for this fall. The last incidence of an eight-day Golden Week was in 2009; the next will be in 2020.
On Thursday, September 14th, a collective of the Realogics Sotheby’s International Realty (RSIR) Executive Team and brokers joined AREAA of Greater Seattle for the 2017 Emerging Gateways Luxury Summit. The event featured celebrity keynote speaker Josh Altman, a $3 billion realtor and star of Bravo TV’s Million Dollar Listing Los Angeles, along with a panel of experts who discussed local and global luxury market trends. Following the panel and guest speakers, guests mingled at a cocktail reception and mixer to share insights while taking in the gorgeous views at the Hyatt Regency Lake Washington.
In a recent visit to Seattle, May Lee of CGTN discussed the growing interest in Seattle with Dean Jones, President & CEO of Realogics Sotheby’s International Realty (RSIR), who told her “the secret is out and the Chinese know it.” Jones cited the state’s lack of income tax, top-ranked schools and relative affordability compared to other West Coast peer markets as contributors to the rise in foreign investment. And the Seattle appeal is certainly evident, as Lee reports that “according to a property website in China, searches for real estate here [in Seattle] have more than doubled beating out other favorites like Los Angeles, New York and San Francisco.”
Event Draws Dozens of Invited Guests to RSIR’s Kirkland Branch Office for Book Signing and Lake Washington Boat Tour
On Wednesday, July 26th author Ben Briggs of Briggs Freeman Sotheby’s International Realty and resident of China, visited the offices of Realogics Sotheby’s International Realty on the Kirkland waterfront for an impromptu book signing of his book Chinese Institutions Definitive Guide to USA Commercial Real Estate. The book, written in Chinese, is currently offered for sale on Amazon.com and includes chapters written by twelve other co-authors including RSIR’s Dean Jones, representing the Seattle / Bellevue metro area.