Brokers Confirm Rising Demand for New Construction Condominiums and Eastside Homes
Seattle’s red hot real estate market may only be in the first few innings with expanding demand from overseas homebuyers, according to a recent article by The Seattle Times. Reporter Gene Balk explored the trend on further news by The Hurun Report, which cited that more than half of the surveyed millionaires in China are either in the process of or plan to emigrate from China to North America. Seattle was second only to Los Angeles, beating out San Francisco and Vancouver, BC – previously two of the most popular and expensive housing markets on the West Coast. The article highlights the draws including Seattle being a more affordable city with a greater trajectory for capital appreciation, preferred schools, robust economy, lack of a state income tax and benefits from expanding flights to China as Seattle offers the closest mainland port to Asia.