As yet another acknowledgement that Seattle has joined the league of global cities attracting Asian investment, immigration and homeownership, Palace Magazine recently published a special report on American cities that included the Emerald City with significant contributions by Realogics Sotheby’s International Realty (“RSIR”). The article also covered trends in typical markets including Boston, Las Vegas, Miami, New York and San Francisco.
“We are proud to represent our region within this elite publication and be included amongst our peer markets,” said Dean Jones, President and CEO of RSIR. “There is now little doubt that Seattle is on the map overseas and I believe this wave of foreign direct investment is just getting started.”
The article discusses how seven years after the recession the US housing market has rebounded and many cities (Seattle included) are setting new benchmarks for value. The investment prospect as well as the logic of diversifying a portfolio have created a gold rush of activity amongst Asian homebuyers. The article also outlines the popular EB-5 Investment Visa program created by the US Congress in 1990 to stimulate the US economy through job creation and capital investment by accredited foreign investors. According to the report, nearly 10,700 EB-5 visas were issued, with 85-percent of them going to wealth Chinese investors.
In addition to profiling the Seattle market, several RSIR listings were featured including a luxury condominium at Fifteen Twenty-One Second Avenue in downtown Seattle offered at $3,200,000 and Prima Vista, a waterfront estate located on the Juanita “Riviera” on Lake Washington offered at $6,288,000.
This latest coverage by Palace Magazine follows a flurry of recent attention, as RSIR has continually played a leading role in bridging homebuyers on both sides of the Pacific. Just last week, RSIR launched the all-Mandarin Seattle Luxury Living Magazine with Tiger Oak Publications and a WeChat App Platform to reach a Chinese audience of over 600 million.