In an article recently published by The Province, Sam Cooper says “mainland China buyers seeking to invest overseas are fleeing Vancouver and flooding Seattle.” Looking at research released by Juwai and outlined in areport published by RSIR that revealed a 143% increase in Seattle buying enquiries from in August 2016 and an 81% decrease in Vancouver searches during the same time period, Cooper says “the data suggests growing nervousness among Chinese investors over increasing regulation of Metro Vancouver’s market.”

As Jones told Cooper, “We are seeing a rush into Seattle as the next market that matters. I think for Chinese buyers it becomes like a self-fulfilling prophecy. As a group, they know they can move a market higher. It is definitely the most dominant new presence in the market.” Jones goes on to outline two record-breaking sales in desirable Eastside communities and adds that “some of his brokers are reporting that Chinese clients are dumping Vancouver property to reinvest at lower prices.”

Jones also touches on RSIR’s exclusive WeChat app platform, which is seeing “‘viral’ interest in Seattle real estate stories” and offers an opportunity for brokers to “use the app to facilitate direct home sales to buyers in China.”

For more information on the latest Vancouver and Seattle market comparisons, read the full RSIR reportand a recent article published by Seattle Times.