The popular West Coast cities of San Francisco, Los Angeles and Vancouver have long been the most direct routes to New World prosperity for Asian immigrants and their families. Now that generations of Chinese buyers have transitioned to life in North America, their experience and trend spotting is bringing to bear more practical considerations of economic fundamentals, financial and educational opportunities, and overall quality of life. So it’s no surprise that relative affordability, propensity for capital appreciation and even a recently imposed 15-percent foreign homebuyer tax in Vancouver, are boosting interest in alternative markets like Seattle—the next international gateway city on the rise.
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The PSBJ Reports an Increase in All-Cash Buyers in the Seattle Area
The Puget Sound Business Journal recently reported that, “nearly two-thirds of the people who bought high-end homes last year in the Seattle area paid cash.” In the feature, Stiles cites Realogics Sotheby’s International Realty research which found that the most expensive sale of 2015 was a waterfront estate on Mercer Island at $13.8 million.
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