Realogics Sotheby’s International Realty was represented in Shanghai by President and CEO Dean Jones on November 5th, 2013 during a Visas Consulting Group event, which showcased West Coast markets and provided information on immigration and foreign direct investments in North America. The event hosted more than forty invited guests whom had expressed interest in learning about emigration to the United States. VISAS Consulting Group is based in Shanghai with regional offices throughout Eastern China as well as branch offices in Vancouver, BC. The company, among the largest in the industry, helps more than one hundred clients immigrate overseas each year and more recently began favoring the United States now that real estate values have recovered and investment visas such as EB5 programs have proven to be successful methods for securing immigration status.
“International is our middle name and we’re doing our part for our region,” said Jones. “I was proud to represent the Pacific Northwest during this most recent event in Shanghai with our friends at VISAS Consulting Group. I am reminded of the tremendous interest for investment and immigration to our region and will bring home numerous relationships that I am confident will result in multiple sales in the Seattle/Bellevue metro area.”
Realogics Sotheby’s International Realty and VISAS Consulting Group have partnered before in Vancouver, BC at the Tale of Two Cities event, which drew more than a hundred guests with interest in real estate south of the border.
The current delegation included Angela Wong of Ewing & Associates | Sotheby’s International Realty in Los Angeles, Brett Dickinson of Pacific | Sotheby’s International Realty and Arthur Hung of Sotheby’s International Realty in Manhattan.
PICTURED ABOVE: Angela Wong of Ewing & Associates | Sotheby’s International Realty based in Calabasas, CA personally introduced Dean Jones during his presentation on the Seattle / Bellevue metro area.
Jones presented the “Investment Capital of the Pacific Northwest” – a dynamic overview of the geographic, economic, demographic and lifestyle composition of the region and demonstrated why the region has increasingly become favored for immigration over historically more significant markets such as Vancouver, BC and San Francisco, CA.
PICTURED ABOVE AND BELOW: More than 40 exclusive guests of VISAS Consulting Group attended a seminar on November 5th, which featured presentations on Seattle/Bellevue, Los Angeles, San Diego and New York City.
In addition to rising numbers of high-net worth Chinese whom have been notably buying real estate overseas for more than a decade, interest in immigrating is high among an emerging middle class consumer in China. The most popular reasons are to diversify their investments with foreign real estate, have their children attend top-ranked schools in North America and to seek an enhanced lifestyle in the pristine natural environment. This lifestyle was further promoted by the recent romance-comedy movie “Beijing Meets Seattle”, which is highly popular throughout China.
“Many are surprised to learn that Asian residents are the fastest growing demographic in Washington State, especially on the Eastside where they represent 30-percent of the Bellevue population and some neighborhoods are closer to 50-percent,” said Jones. “The reality is international buyers are increasingly discovering the relative value available in the Puget Sound Region where real estate is effectively half the price of Vancouver, BC and a third less than San Francisco – we simply have a greater propensity for future capital appreciation while being far more attainable, especially for middle class buyers that are seeking greater value.
It helps too that our cost of living is generally lower and the fact Washington State has no income tax. Meanwhile by most accounts our economy is firing on all cylinders. Young families are also very sensitive to the fact that their student-aged children will be able to find a job and can afford a home in the future – something that is often overlooked in super-heated markets, which is spurred in large part by foreign buyers.”
Brokers, private bankers, escrow companies and accounting firms agree that the actual demand from foreign buyers is far greater than what may show by doing title searches for last names with international ethnicity. Many buyers are closing on properties, especially more significant properties in a Limited Liability Company, family trust or using a law firm as a legal representative of the family. Jones says there are very significant international families residing in the Pacific Northwest but prefer to maintain a low profile. Realogics Sotheby’s International Realty has contributed to media coverage on this phenomenon including articles with The Puget Sound Business Journal, The Seattle Times, Bloomberg and today on KIRO News.
PICTURED ABOVE AND BELOW: Dean Jones presents on the geographic constraints of the Seattle/Bellevue metro area, which is surrounded by waterways and mountain ranges not to mention growth management boundaries requiring most development to occur within key cities.
All guests were offered helpful brochures that were printed in both English and Mandarin to further study the market fundamentals and lifestyle proposition available in the Pacific Northwest.
The information included statistics on the local real estate market, ranking of local schools and universities and expanding direct flights from SeaTac now servicing Beijing, Hong Kong and Shanghai as well as Taipai and Japan.
PICTURED ABOVE AND BELOW: Attentive guests were taking photos of the presentation and marketing materials to share with friends and family what they learned during the event.
PICTURED ABOVE AND BELOW: Interested homebuyers following the presentations are here seen working directly with representatives of Los Angeles, Seattle/Bellevue and New York City.
The event in Shanghai is only the most recent effort by Realogics Sotheby’s International Realty to showcase the Pacific Northwest to international buyers. The brokerage firm was the founder of The Dragon and the Pearls initiative, which compares the major West Coast markets including Vancouver, BC. Seattle/Bellevue, WA; San Francisco, CA; Los Angeles, CA; Orange County, CA; and San Diego, CA.
PICTURED ABOVE: The Dragon and the Pearls initiative include comparative information on the primary West Coast cities and feature editorial in both English and Mandarin targeting international homebuyers.
PICTURED ABOVE : Dean Jones stands with Ivy Sun of VISAS Consulting Group atop the Ritz Carlton Hotel with a stunning view of the Shanghai skyline.
Of course the delegation made sure to enjoy the many sights and experiences of their host city. In addition to presenting in Shanghai, Jones is also visiting Beijing to establish additional networks and plans to visit Asian markets on a routine basis.