Realtor Markets Maui to Beijing in Luxury Property Showcase
By Wendy Osher
Maui realtor, Tom Tezak was the sole attendee from Hawai‘i to participate in a recent three-day luxury property show in Beijing, China.
Tezak, a realtor with the Wailea Realty Corp. based in South Maui, attended the Luxury Properties Showcase Beijing 2013 in June.
The event website describes the conference as an “exclusive exhibition specifically designed for the China market,”and “dedicated entirely to luxury and high-quality homes across the globe.”
Tezak reportedly joined exhibitors from more than 27 countries at the event, which he said drew an estimated 6,000 attendees.
“It was an honor and a privilege to represent Hawai‘i at LPS Beijing 2013,” said Tezak in a press release. “I had the opportunity to meet some of China’s wealthiest consumers and representatives and promote our investment climate,” he said.
The National Association of Realtors published a report that ranks China consumers as one of the largest international investors in US homes, behind only Canada.
According to the NAR’s Profile of International Home Buying Activity, “Chinese buyers were reported to be buying homes in the upper range, with the median price at $425,000, followed by India ($300,000), the United Kingdom ($250,000), Canada ($183,000), and Mexico ($156,250).
Visitors to Hawaiʻi from China are also considered one of the highest spending visitor markets in the state, according to information released by the Hawaii Tourism Authority–an upward trend that is expected to continue.
Earlier this year, Hawaiian Airlines announced plans to launch non-stop service between Honolulu and Beijing, China in April 2014.
At the time, officials with the HTA said the new service is expected to generate $81 million in annual visitor expenditures and $8.47 million in tax revenue for the state, with projections for double-digit increases in both arrivals and expenditures.