Seattle Emerges as Top City in Juwai.com Search Enquiries
Juwai.com recently released their 2018 Chinese Consumer International Travel Survey, and it reveals that more Mainland Chinese consumers are looking to purchase international property than ever. Many buyers are turning to the United States, taking advantage of the extended Lunar New Year Golden Week holiday to travel to destinations where they may view properties or purchase real estate. Travel plans during the Golden Week celebration include sold out flights to Seattle, now serviced by Hainan Airlines, Xiamen Airlines and Delta Airlines with direct service between Seattle and Chinese airports.
The Washington State China Relations Council (WSCRC) will cohost a session for their Corporate Executive Briefing Series at the NEXUS Sales Center on March 7th from 12:00pm – 1:30pm. The “Marketing Your Business in China” event will be presented by David Zhou, Founder of IM2China – a leading marketing agency that specializes in digital campaigns within China.
On February 24th, 2018 the Hong Kong Business Association of Washington (HKBAW) will host its 11th Annual Lunar New Year Gala and Auction. Every year, the gala supports a local non-profit organization, and this year’s proceeds will benefit ArtsFund, an organization dedicated to supporting art sectors throughout King and Pierce Counties with a strong background of advocacy on local and national levels.
Realogics Sotheby’s International Realty offers insight into influx of visitors to Seattle during Golden Week celebration
As a recent article published by China Daily confirms, Lunar New Year has become a popular time for Chinese mainlanders to take advantage of their extended holiday and visit the United States for both recreation and house hunting. Citing a recent Juwai survey outlining travel patterns, the article says that 92-percent of respondents indicated they planned to travel in 2018, with the United States ranking first on the list of destinations. What’s more, is nearly half of those surveyed said they may view properties while on holiday for Lunar New Year during Golden Week.
The rise of the Seattle housing market has been such a consistent refrain for the last several years that there’s little question whether the Puget Sound has “arrived” yet.
Motivated homebuyers from diverse backgrounds are drawn by the region’s spectacular environment, great schools, vibrant culture and world-class companies. The only reason sales could decline in Seattle is insufficient inventory, not waning demand.
International buyers have been an important factor in this surge, with Chinese consumers leading the charge. It’s no surprise Seattle was the most searched U.S. market in 2017 according to Juwai.com, China’s top real estate search portal, and that many Chinese plan to go on shopping tours during the upcoming Lunar New Year celebration.
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.”