An outside view of the five-bedroom, 4,309-square-foot home in Bellevue that is on sale for $2,799,950. (Ellen M. Banner/The Seattle Times)
This year, Seattle surpassed San Francisco as the second place in the world where Chinese millionaires most want to live. But critics say the threat of foreign investors could worsen Seattle’s already exclusive market.
If you could pick anywhere in the world to live, where would it be?
For a lot of Chinese millionaires, the answer is: Seattle.
On a wish list of global destinations, Seattle has surged into the No. 2 spot for well-off folks in China who are hoping to relocate, according to a new report.
Each year, Shanghai-based Hurun Research surveys hundreds of Chinese millionaires who are either thinking of leaving, have already begun the emigration process or have recently made the move. About 12 percent picked Seattle over any other place this year. Los Angeles, the top choice for about 18 percent, is No. 1.
Seattle has been steadily rising up the rankings since debuting as the sixth-most-desired immigration destination in 2014. This year, we knocked San Francisco out of the No. 2 spot.
The survey respondents are affluent — they have an average net worth of about $3 million — but not among China’s superrich. So value is a top priority for them, and that helps explain Seattle’s appeal, says Dean Jones, owner of Realogics Sotheby’s International Realty, who estimates that half of his home sales in select Eastside markets are to buyers from China.