AREAA Hosts Global and Luxury Summit in New York City with Attendees from All Around the World
The Asian Real Estate Association of America (AREAA), a leader in defining the direction of the real estate market for the Asian American Pacific Islander (AAPI) segment in the United States, today announced its plans for the Global and Luxury Summit in New York City at the Waldorf Astoria Hotel on April 12, 2014. The announcement also includes conference planning co-chairs as Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC and Angie Lee, svp, corporate communications, MCS Mortgage.
“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.”
The 2014 Global and Luxury Summit will highlight the emerging market opportunities present in both the international and luxury real estate markets. 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.
“What makes AREAA events such as the 2014 Global and Luxury Summit so special is the fact that it will be a real value to our members across the country and globally,” said Ivan Choi, AREAA’s 2014 National Chair. By either attending each session or participating in the Summit’s networking events, our guests will be able to expand their international and high-income clientele and grow their businesses accordingly.”
To provide key insights to the consumer behavior of Asian buyers, a group that represents a significant portion of both high-end and international buyers, the Summit will offer sessions ranging in subjects from Asian art collecting to winery transactions. Additionally, the Summit will include sessions that will cover topics in international real estate such as real estate trends in Asia, North America and Europe, understanding investment opportunities in China, and avoiding complications in investing internationally.
“The Summit tag line is Setting a New Standard of Excellence,” said Angie Lee, conference co-chair. “If you’re already working with foreign investors, this Summit is designed to enhance your business in every way possible. We’ve designed the program in order to equip attendees to take advantage of the burgeoning luxury markets as well as providing top-notch international networking events. The summit will offer a robust luxury track that will include sessions designed to inform guests about nuances in luxury listings and real estate investment strategies for high-net worth clients.”
AREAA’s Immediate past Chair, Jim Park, also added, “With over 13,000 members and counting, our organization is always looking for ways to expand so that we can remain ahead of the curve in real estate development. With everything that the 2014 AREAA Global and Luxury Summit has to offer, members will be able to get the information and contacts needed in international, luxury, and commercial markets to define the standard of how business will be conducted in today’s real estate climate.”