Dehlan Gwo featured in all-Mandarin magazine; Chinese tourism & investment tops all overseas interest.
For the second year in a row, Realogics Sotheby’s International Realty (RSIR) sponsored the publishing of the glossy, all-Chinese magazine Seattle Luxury Living, which is catered to Chinese consumers in the Pacific Northwest as well as those seeking real estate and lifestyle opportunities throughout the Seattle metro area. Tiger Oak Media, owner of Seattle Magazine, Seattle Bride, and Seattle Business Magazine is the publisher and included exclusive real estate content provided by RSIR along with featured listings, lifestyle editorial, and third-party advertisers. The 2017 edition comprises 112 pages, an increase from the 88 pages in the 2016 edition. The official debut was hosted by Wild Ginger, an advertiser, at 1401 3rd Avenue, Seattle on June 1, 2017 from 6:00-7:45pm.
“Our premier edition in 2016 was so successful we had to run an encore edition in September of 30,000 copies in print, with more than 70,000 digital editions downloaded via Wechat last year,” said Dean Jones, President & CEO of RSIR. “The Seattle area is the fastest-growing market among Asian buyers seeking education, investment, and immigration opportunities in North America. Seattle Luxury Living is an innovative marketing platform to engage with this emerging consumer group here at home and overseas.”
The editorial published includes a chronology called “The Seattle Pivot Begins”, which is a research collaboration by Jones and RSIR Research Editor and Publisher, William Hillis. The article highlights major events in policy making, air travel, taxation and media awareness that led to Seattle’s meteoric rise with Chinese tourism and investment. Of specific note, Chinese demand appears to have diverted southward following the announcement that the BC government imposed a 15-percent foreign buyer tax on non-resident real estate purchases in the City of Vancouver on August 2, 2016. An English version of this article can be found here.
Promoters of Seattle Luxury Living have sold premium advertising positions to five-star hotels, retailers, furniture stores, jewelers, service providers and real estate developers. A print run of 25,000 copies is being distributed via the international baggage claim terminal at SeaTac International Airport and Vancouver International Airport as well as at select airport lounges, five-star hotels, featured retailers, Starbucks Reserve, and RSIR retail stores. Additionally, the digital version of Seattle Luxury Living will be available on RSIR’s exclusive Wechat portal, which has the potential to reach more than 700 million active subscribers worldwide including those inside China’s firewalls. Consumers within China are not able to view many western media sources or social media.
“The Pacific Northwest has become a global real estate market and our Chinese magazine is just another sign of the times” said John Spear, Publisher of Tiger Oak Media’s Seattle Luxury Living. “Asian consumers are an influential demographic and a major consumer of luxury products and services in our region. Many local businesses are eager to welcome an increasingly international clientele.”
RSIR brokers report a record year of home sales to mainland Chinese buyers, which comprised about 50-percent of the top sales in many Eastside neighborhoods in 2016, up from an estimated 33-percent the prior year. Leading the trend, Dehlan Gwo is a founding member of RSIR's exclusive 14-member Asia Services Group, specializing in the language and logistics of international sales.
Jones is an acting board member with the Washington State China Relations Council and was the emcee during the most recent 37th Annual Dinner Banquet. He is also a co-author alongside Ben Briggs of Dallas-based Briggs Freeman Sotheby’s International Realty, who collaborated on the hardcover book Chinese Investors Definitive Guide to USA Real Estate, which is currently for sale on Amazon.com. To be sure, China’s growth as the second largest economy in the world has produced a bounty of millionaires and billionaires, many of which seek mobility to travel and a financial safe harbor in US real estate.
“Seattle is at the intersection of where this Chinese Miracle meets the American Dream,” adds Jones. “As the most affordable housing market when compared with other West Coast gateway cities, we remain a relative bargain while offering the greatest trajectory for investment and lifestyle returns. We also enjoy a moderate climate and stable government sought by Chinese buyers.”
A rising middle class in China is among the most active consumers that target US immigration using the USCIS investment visa known as EB-5. They note Seattle as the closest mainland port to China while offering nationally-ranked schools; attainable real estate; an abundance of economic opportunities; and no state income tax, according to Jones. He says property purchases, especially waterfront in the Seattle/Bellevue metro, are prime during the summer.
“China is Seattle’s largest overseas tourism market and we expect yet greater growth in the future,” said Tom Norwalk, Visit Seattle President & CEO. “Visit Seattle maintains in-country marketing representation in China and leads annual tourism missions to several Chinese cities in order to stimulate tour and travel business, and generate positive travel media coverage of our destination. We’re excited that the new Seattle Luxury Living Magazine will welcome Chinese visitors.”
A report by Juwai.com cites 92-percent of Chinese surveyed plan to travel internationally in 2017 and 42-percent plan to explore real estate opportunities during their holidays. The Hurun Chinese Luxury Consumer Survey 2017 reports half of their respondents still plan to emigrate from China. SeaTac International Airport is the fastest-growing large airport in the nation, according to the Port of Seattle and currently hosts three airlines offering direct flights to China; including Hainan Airlines, Delta Airlines and Xiamen Airlines.