Seattle’s Rise as a Global Gateway is Second Only to Los Angeles According to China’s Hurun Report
On Friday, July 21st more than a dozen members of the national committee for the Asian Real Estate Association of America (AREAA) concluded their Pacific Northwest Regional Town Hall Meeting at the NEXUS Sales Center to see firsthand why Seattle and specifically, this innovative development, has been such a buzz in the development industry.
“We welcomed our fellow members of AREAA and showcased the phenomenal success of NEXUS,” said Dean Jones, President and CEO of Realogics Sotheby’s International Realty. “It was interesting to compare the market fundamentals with those from other West Coast peer cities like Vancouver, BC and San Francisco.”
Among the many discussion topics was the incredible growth of urban tech campuses in downtown Seattle not limited to Amazon, Facebook, Google, Apple and others. It was also noted that 94-percent of the housing being built in downtown Seattle since 2010 has been for rent and not for sale, building up what Jones referred to as “pent-up demand” for homeownership – a key objective of the AREAA mission.
“It became clear why NEXUS was just what the market was waiting for,” adds Jones. “We congratulate Burrard Group and our many homebuyers for realizing this vision of our future in downtown Seattle.”
Above & Below: NEXUS representatives Dean Jones and Michael Cannon of Realogics Sotheby’s International Realty explain the unique market conditions of downtown Seattle to AREAA guests.
Jones led a panel discussion at AREAA Global & Luxury Summits during the past several years on the topic of “Emerging Markets in North America” and “Making Your Market Matter” in which he highlighted rising interest among Asian homebuyers in the Seattle / Bellevue metro area. This topic was further underscored by a recent Seattle Times article noting that Seattle is now second only to Los Angeles in its desirability with affluent overseas buyers from China, according a report by Hurun and Visas Consulting Group.
AREAA recently announced that the 2018 Global & Luxury Summit will be held in downtown Seattle. The annual event draws nearly a thousand members from around the world to attend the high-profile events and shines a global spotlight on the host city.
Above: A group photo of AREAA members attending a private tour of the NEXUS Sales Center.
Above: AREAA members were impressed with the relative value offered to Seattle homebuyers at NEXUS compared to much higher-priced markets like Vancouver, BC and San Francisco.
Above & Below: AREAA National Founding Chairman & Emeritus John Yen Wong and his wife presented guests with a cake and lively conversation about the state of the industry.
Above & Below: A group photo of the AREAA national committee and local chapters during the Town Hall style meeting hosted at the Wing Luke Museum in Seattle’s historic Chinatown.