As a brand with leading global networking opportunities, it’s no surprise that our dedicated sales associates are constantly finding ways to learn and grow with the latest trends and demands in luxury real estate. On November 2, 2015, two of our New Canaan agents, Leslie Razook and Inger Stringfellow, chose to further their knowledge by attending the East Meets West Manhattan Luxury Real Estate Connect conference sponsored by the Asian Real Estate Association of America. Both agents were excited to participate in the all-day event, which was held at the Waldorf Astoria hotel in New York City, and even invited client, Linda Xu, to attend. Various prominent global real estate topics were discussed, including the rise of Asian economies, and in turn, Asian investors, and how this impacts the current luxury market.
Luxury home searchers in Asia have been impacting the global real estate market for over a decade now, directly increasing interest in U.S. residential investments. This significant development in market activity from interested home buyers abroad has resulted in real estate transactions closing across borders from all directions. The Knight Frank Wealth Report, a resource that provides authoritative commentary on the latest global trends and investment strategies of wealthy individuals around the world, concluded that in 2014, New York was the number one city globally for cross-border investment. In 2013, Asian investors alone spent $92.9 billion. Our brand’s very own Wealth-X and Sotheby’s International Realty Global Luxury Residential Real Estate Report highlights key reasons for this increased interest in international purchasing, describing real estate as not only an investment, but also an asset and an overall lifestyle.
“Participating in this event was a tremendously interesting and useful experience,” said Razook. “The quality of speakers and topics were exceptional, and it was truly helpful to gain insights into how to be of greatest assistance to clients from this emerging luxury market.”
“I am thrilled with my experience at this year’s East Meets West conference,” added Stringfellow. “In the past few years, I’ve seen firsthand the increase in interest in luxury investments from clients overseas. I loved seeing the facts from our brand’s Wealth-X report come to life, and I encourage others whom this may interest to attend in the future.”
For more information on this year’s East Meets West Manhattan Luxury Real Estate Connect conference, please visit the Asian Real Estate Association of America’s website here.