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Quote of the Week: Sight unseen in Seattle area
By Juwai, 07 September 2013
"We’ve had several projects come in here where the person purchasing from China bought it without ever seeing the property."
Robert Grumbach, Development Services Director at City of Medina
This week's quote is from Robert Grumbach, of the city of Medina – where Bill Gates lives.
While wealthy Chinese have long been attracted to investing in traditional gateway cities in the US and Canada, such as Los Angeles, San Francisco and Vancouver, Seattle has now become a rising star for China's wealthy elite who purchase multimillion-dollar homes and land – some without even seeing the property.
Often paying all in cash, Chinese buyers have been speeding up the recovery of the real estate market, as well as strengthening ties between China and Seattle.
Read the full article in the Seattle Times.
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