The secrets out! Well, Logan Airport recently announcing a slew of direct flights to international cities including Beijing, Tokyo and Dubai may have been a spoiler alert but, none the less, Boston is rising consistently as one of the worlds most popular cities in the world. The areas thriving economy, world-renowned hospitals, phenomenal school districts, and highly acclaimed colleges are drawing in families, individuals and companies of all demographics at an all time high. We have seen a spike both domestically and internationally over the last 18 months.
Coupling an international brand with over 50 years of expertise in the Boston and Greater Boston market allows our company to offer our clients a significant edge. Relocating clients can easily access our agent base which is equipped with over 15 languages, and sellers can subsequently access this invaluable network of clients. Our company just announced our most recent endeavor in expanding into Cambridge. Cambridge is home to some of our countries best colleges, including Harvard and MIT as well as many cutting edge pharmaceutical companies making it a very appealing home for relocating individuals. The thriving Cambridge market was in need of a local brand with international capability and we are excited to officially introduce our powerful network to the flourishing area.
We reported on the specifics of our international buyers in a recent blog. This data illustrates the significant increase in buyers from China as well as other countries. Many international buyers site our school systems as the primary reason for moving here. A great deal of our international clients purchase property for their children while they go to school, a property we like to refer to as kiddie condos. Ergo, the city has proven to be a magnet to young people in particular. Most of these young people end up making the city their home when their education is complete. A recent report showed that about 24% of units in new developments are being purchased by international clients and a majority of these transactions are done in cash (Source Boston Globe). Sothebys International Realty (SIR.com) has about 841,096 visits per month and about 42% of these are from outside of the US. This data as a whole connotes the same message: international buyers are a vital part of our market and our economy and will continue to elicit this impact. We are both excited and equipped to handle these transactions.
For more information contact our Relocation Department at relocation@gibsonsir.com
