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?
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.
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.”
Written by William Hillis, Research Editor with RSIR
Golf, the world’s foremost stick-and-ball game, will forever be associated with Scotland. Yet the Puget Sound offers a strong assortment of world-leading courses playable year-round in the region’s mild climate amidst scenic topography. A fjord system of valleys carved by glaciers, the bays and inlets of Puget Sound are not unlike the firths of Scotland. And more than any other popular sport, golf is a game in which—in every sense—the landscape comes into play.
Sotheby’s International Realty Affiliates LLC is proud to present “Global Affluence: The Emerging Luxury Consumer,” a report examining the confidence, spending habits and purchasing interests of emerging luxury consumers from around the world, defined as those with $250,000 USD to $1 million USD in investable assets.
The report, which is based on a survey that focused on luxury consumers in the United States, United Kingdom, India, United Arab Emirates and China, found that this emerging luxury consumer demographic is confident when it comes to their personal economy and the economy of their respective countries.
Here is a list of articles that we think you might enjoy reading:
John Talton, “A look at the most dangerous Chinese real estate bubble,” Seattle Times, October 18, 2016.
Beijing watched the American bubble pop in 2007-2008. But the stakes are considerably higher for the Communist Party bigs, who essentially promise citizens prosperity if they go along with a one party authoritarian state. … In China, the issues are considerably more complex. And the leadership’s fear of allowing market forces to operate may be as dangerous as being too late to implement effective curbs. As the world’s second largest economy, a meltdown there would further dampen world trade. As for us, at its worst, a Chinese asset price collapse might pull the demand out of price rises here. But sorting out winners and losers won’t be quick or easy.
In a recent article for Yangcheng Wanbao (羊城晚报), a significant media outlet reaching over 14 million readers in Guangzhou, the third largest Chinese city, Realogics Sotheby’s International Realty (RSIR) Owner & CEO Dean Jones offers expert insight in the Overseas Study/Immigration Section (留学移民) on the relationship between good school systems and Chinese homebuyers in the Puget Sound region.
Sotheby’s International Realty has announced an alliance with Juwai.com that enables the luxury real estate brand to generate Chinese buyer interest on one of the world’s most prominent real estate websites with over two million monthly visitors. As a truly international brand, Sotheby’s International Realty now has the most global representation on Juwai.com, displaying luxury listings from 65 countries and territories.