Meet Patty Chen.
She’s one of the key players helping to turn Boston into a key real-estate investment attraction for foreigners.
From the Globe:
Several of the city’s luxury condominium buildings — including the Residences at W Boston, 45 Province, and Millennium Place — report that at least 24 percent of recent buyers have been international clients, many of them paying in cash.
Yes, such buyers are helping to bid up prices here. But they were also buying when others weren’t – and therefore helped stabilize the market. It’s also flattering they find Boston an attractive market. It’s a very good sign.
File under: Welcome!
Btw: The Globe also has another story about how policymakers and economists are getting concerned about high home prices and lack of new construction here. They’re right to be concerned. We need more housing in Greater Boston, please.
For more information on the Boston luxury condo market please call Robert Veek at 617-720-5454.
Updated: 1st Quarter 2018