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It helps that the Port of Seattle is the closest mainland gateway to Asia and numerous airlines now (competitively) service direct flights to Beijing, Shanghai, Hong Kong, Taipei, Tokyo and beyond. Education also factors with renowned private and public schools catering to international students (reportedly 50% of the foreign born, freshman class of the University of Washington are from China). But most importantly, real estate in the Pacific Northwest appears be undervalued from a global perspective. Consider that the Seattle/Bellevue metro area boasts one of the strongest economies in the US and it generates similar if not higher median household incomes compared to its peer cities on the West Coast. Yet home values here are typically half that of Vancouver, BC located just 150 miles to the north and the average property is a third less than “We are thrilled to be collaborating with Dean San Francisco or Los Jones and his brokers from this strategic US gateway marketplace as we build out our Angeles for comparable network opportunities in North America. We neighborhoods. remain grateful for his introduction to Sotheby’s International Realty Affiliates, LLC and we The fact is these pricier share his vision to build a US referral pipeline into mainland China.” markets are in part
THE [NEXT] DRAGON’S LAIR
buoyed by years of -Kevin Corbett, CEO of Beijing Sotheby’s International Realty foreign investment in real estate and have become known as “hedge cities.” Asians (most notably mainland Chinese) are the largest international contributor and now that Washington is on the map, Asians are the fastest growing demographic. Many Eastside markets, including Bellevue now comprise a 30-percent Asian population and it’s growing. Realogics Sotheby’s International Realty has been at the forefront of global networking events on these trends and contributes regularly to the Asian Real Estate Association of America and to global media on the topic. In addition to founding DragonandthePearls.com, CEO Dean Jones introduced Beijing Sotheby’s International Realty, the first mainland Chinese affiliate and was appointed its Director of Network Development: United States. The Seattle-based brokerage firm hosts numerous trade missions into China each year and created an Asia Desk offering multilingual brokers with direct overseas marketing channels and personalized landing services for the foreign buyers they attract. For more information visit: RSIR.com/AsiaDesk 8 I The Collection
The 2014 Beijing Luxury Property Show held at the Legendale Hotel in Beijing drew an estimated 5,000 prospective homebuyers and members of global media to a collection of just 70 international exhibitors. Beijing Sotheby’s International Realty was the gala sponsor and a premier exhibitor during the event, which hosted contributors to the Dragon and the Pearls initiative with representatives from Seattle, Los Angeles, San Diego and New York City. The well-attended seminars included topics such as “Best Investment Opportunities in the USA”, which featured a well-received presentation by Dean Jones on the Pacific Northwest.