The Seattle/Bellevue metro area is experiencing a meteoric rise in homebuyers and foreign direct investment globally. Discovered for its high quality of life, economic prosperity and relative affordability compared with other West Coast

markets, The New York Times estimates 40-percent of $1 million-plus homes sold on the affluent Eastside

are being purchased by global buyers. The attractions are many. A depth of arts and culture, a pristine natural environment including extraordinarily clean air and water, renowned schools, and an internationally diverse population.

 

Asians are the fastest growing demographic in Washington and in some markets, like Bellevue they represent 30-percent of the population. Chinese grocery stores, fine dining, international schools and many Asian businesses have created a comfortable relocation experience for new immigrants. It also helps that Seattle now boasts numerous direct flights to Asian cities such as Hong Kong, Shanghai and Beijing, which proves to be less expensive and up to two hours quicker than other international airport hubs in California.

 

A preference for Seattle starts at a young age. The University of Washington, ranked #15 by the Academic Ranking of World Universities, says 20-percent of its freshman class is attending from international markets and half are from China.

 

Homes are considerably less expensive than Vancouver, BC, San Francisco or Los Angeles, and unique lifestyle

opportunities like living on Lake Washington, really can’t be found elsewhere. The trend with international home buying has only just begun, so there’s a much greater propensity for value appreciation ahead. Washington state also has no state income tax and the overall cost of living is much lower than either British Columbia or California. 

 

Foreign buyers aren’t the only contributors to a booming marketplace. The region is teeming with high-paying job openings. Companies like Amazon.com, which will soon occupy more than 5 million square feet of office space in

downtown Seattle is a demonstration for the “urban campus”. The online retail giant is set to exceed 40,000 local employees downtown, eclipsing Microsoft’s Eastside headquarters. Other industries are expanding too, including

aerospace, education, global health and life sciences, and philanthropy (Seattle is home to the Bill & Melinda Gates Foundation). Anticipation for the housing demand can be seen throughout the metro area with scores of residential

developments transforming the skyline. Other major projects include a $2 billion tunnel below the city and waterfront park project that will rival West Coast cities for both accessibility and beauty.

 

Anticipation for the housing demand can be seen

throughout the metro area with scores of residential

developments transforming the skyline. Other

major projects include a $2 billion tunnel below the

city and waterfront park project that will rival West

Coast cities for both accessibility and beauty.