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.
Stiles likewise describes that in these cash deals, “39% of the buyers were from overseas, primarily China.” This finding aligns with a recent article in the Seattle Times that included RSIR’s market research and found that luxury sales have increased in the area thanks to the presence of tech executives and foreign buyers.
This recent slough of news pieces also comes on the heels of Palace Magazine’s recently published special report that added Seattle to its list of top markets sought by Asian homebuyers. “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.”