The Silicon Valley residential real estate market is an international one. Buyers come from all over the country and around the world to make their homes here. And the people whose houses we sell for them are often headed to locations across the globe, sometimes to places they don’t know well. At Dreyfus Sotheby’s International Realty, our agents are part of a global network of local experts through their relationships with affiliates in far flung places. Those personal connections allow us to provide our clients with a trusted local network of support, on both ends of the transaction – a great comfort to them and a pleasure for us.
Over the past several months, Dreyfus agents have visited with colleagues in Sotheby’s offices in Lake Tahoe; Bend, Oregon; Naples, Florida; Aspen, Colorado; New York City; Sydney, Australia; Cape Town, South Africa; Moscow and Beijing.
Hong Kong Auction and the Chinese Market
This fall, Michael Dreyfus, Broker Owner and CEO, will be accompanied by several sales associates on a trip to Hong Kong for the Sotheby’s Autumn Sales auction. The auction will feature Chinese and Asian art, from classic to contemporary, along with jewelry, wine and watches. Over the course of five days, the team will meet auction goers and potential real estate buyers, building connections with important contacts in Hong Kong and the surrounding regions.
As you can see in the charts here (from the New York Times), Chinese buyers have recently formed an important part of the residential real estate market in the U.S., and in Silicon Valley in particular, though that investment has slipped slightly in recent months. The weight of the Sotheby’s brand in China was apparent in the recent purchase of a 13.5% stake in Sotheby’s by Taikang Life Insurance, one of China’s largest insurance companies.
This summer, we continued to see a steady stream of Chinese buyers in Silicon Valley, who still see the area as a desirable place to live, to educate their children, and to invest their money. As do we.