The [Next] dragon’s lair An Asian Demand Diversion Nests in the Pacific Northwest
West Coast real estate has long been popular with Asian homebuyers and savvy overseas investors alike. Historically popular markets like Vancouver, BC and both San Francisco and Los Angeles, CA stood witness to decades of exponential immigration and foreign-direct investment – each market clearly benefitting from such capital influences. But as property values in tier one cities bubble over and new policies affect immigration and income taxes elsewhere, Asian demand is deflecting to a new financial safe harbor: the Seattle/Bellevue metro area.
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ABOVE: Dean Jones (Left), CEO of Realogics Sotheby’s International Realty and Kevin Corbett (Right) CEO of Beijing Sotheby’s International Realty presented trends during the Beijing Luxury Property Show on May 16-18.