The brokers all said good schools, clean air, proximity to China, beautiful natural resources like lakes and mountains and the growing economy are the main draws, with most citing Amazon, Microsoft and Boeing as internationally renowned companies.
“It’s like Vancouver, but cheaper,” is how Yi Liu, a broker in China who serves as the real-estate alliance’s vice president, sums it up. Vancouver, B.C., has long been a major destination for Chinese homebuyers.
Are the homes used as investments or actual residences?
“It’s about 50/50,” said Chris Hu, vice president of B.A. & 515J Group, a brokerage in Beijing. Those who rent out the homes can see 5 to 6 percent profit a year, he said, as the local market continues to see rising prices. “The investment return is very nice to them,” Hu said.
Families in China will often send just their kids to live here and go to school, or the breadwinner will stay behind and work in China: “A lot of Chinese buy here as an investment in education for their kids,” Hu said.
Local brokers have long reported Chinese money flowing strongest into luxury homes in places like Medina and West Bellevue. But that’s beginning to change, Hu said.
“These days, a lot of Chinese buyers who want to be in Seattle are middle-class,” he said.
“People can buy a house like this,” Liu said inside a $5.3 million listing in Medina, “for the cost of a three- or four-bedroom apartment in Beijing.”
But our rising prices are already starting to price out some of the middle-class buyers in China. “One of my friends looked here but bought in Maryland” because it’s more affordable, Liu said.
Medina is the equivalent of Atherton. Gates and Bezos live there. $5M is a starter home in there area. There’s far less Asian people here than in the bay area. People that want their authentic grocery store and other stuff will probably be disappointed.
tell me 
