What a great and productive event this past weekend, meeting and collaborating with International real estate colleagues at New York's Waldorf Astoria on Park Avenue at the Asian Real Estate Association of America Global & Luxury Summit. Organizers gathered key players from across the world to discuss growing opportunities with Asian investors buying in our local markets, including our own Greenwich, Connecticut. Exciting opportunities for my Sotheby's International Realty® clients.
"The Sotheby's International Realty® brand is proud to support AREAA's efforts, and I personally am very pleased to act as co-chair of this year's event, having participated in many of the organization's conferences over the last several years," said Philip White, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "This is an exciting time for the luxury real estate industry, as we continue to see many significant sales and listings globally, so the focus on the high-end sector is very timely. We also have seen a growth in Asian investors buying outside of their respective countries, making the work of AREAA critical at this time."
According to a recent National Association of Realtors (NAR) study, the total sales volume that was conducted by international sales in the United States totaled over $68 billion in 2013. The booming international markets, as defined in recently published survey, indicates that New York, San Francisco, Washington DC, Houston, Boston and Los Angeles markets are top ranking USA cities for real estate investment.