The Impact of UK Residents on Northern Virginia

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The Impact of UK Residents on Northern Virginia

Northern Virginia has become a melting pot, and it’s done so very quickly. In the first half of the 20th century, the area was predominantly white American. Today, things have changed considerably. The largest minority is Hispanics, followed very closely by those of Asian descent (with Chinese and Indians leading the way). However, those aren’t the only ones choosing to move from their homelands to Virginia. A number of UK residents have opted to call northern Virginia home, and they’ve certainly had an impact.

Medicine

One area where UK residents have had an impact in the state is in the area of medicine. A number of top doctors in northern Virginia where either born or educated in the UK before coming to the US to practice medicine. These include regional hospitals, as well as the Vanderbilt University School of Medicine.

Food

It takes only a quick glance at the streets of Arlington, Fairfax and Alexandria to see one of the major contributions by UK expats choosing to make the area their home. The number of English-style pubs and eateries now enjoyed by residents of the D.C. Metro Area is a direct reflection of the number of UK immigrants moving to the area.

Technology

If there’s one sector of the economy outperforming the rest (other than government jobs, of course), it’s technology. There are lots of tech jobs around the D.C. Metro Area, but you’ll find other technology hotspots throughout northern Virginia. Many of these firms employee UK or UK-educated professionals in their operations, ranging from technicians and web designers all the way up to executives.

Adding to Cultural Diversity

Once upon a time, northern Virginia wasn’t particularly diverse in terms of culture. In fact, it lagged behind much of the rest of the nation. Since the late 1900s, that’s been changing, and the pace of those changes is only increasing. Chinese and Indian residents still outnumber those arriving from the UK, but newcomers from across the Pond certainly add to the cultural diversity that marks Virginia today. As more and more jobs open up within government agencies and with international organizations, you can look for the number of UK residents to increase.

That’s particularly true given the current real estate investment outlook for the world. London once beat out New York as the primary real estate investment location, but those roles have reversed with the arrival of 2015, and it extends to all areas of the country. Washington D.C. (and by connection nearby cities in Virginia) ranks as the fourth most popular city in the world for UK real estate investment. Europeans from Germany, France and other nations are following the UK’s lead here.

In summation, while the presence of UK residents might not get the press that Chinese, Indian and even Canadian residents do, they’re certainly here, and they’ve become an integral part of the northern Virginia community, adding to the increasingly diverse culture here.

Source:

http://www.dailymail.co.uk/news/article-2278274/Where-Americas-rich-people-live–New-York-City-Bridgeport-CT-boasts-highest-concentration-rich-people-nation.html

Impact of UK Residents on Northern Virginia

Contact Gene Mock, Associate Broker, Premier Team, Keller Williams Realty 703-342-8100 for more information about investing in Northern Virginia real estate

Gene Mock Realtor http://northernvirginiarealty.com/

 

 

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Northern Virginia – An International Real Estate Investing Mecca

Washington DC Capitol , USA

Northern Virginia – An International Real Estate Investing Mecca

While the US as a whole continues to experience widespread interest from the international real estate investing sector, there are a few spots in the country that stand out. Of course, you’ll find New York and San Francisco on the list, as well as Houston. However, you’ll also find Washington D.C. on the list. While the D.C. area as a whole has fallen to fifth place in the nation, northern Virginia has risen, with cities like Arlington, Alexandria and Richmond becoming preeminent places for international real estate investors and relocation.

Why the Influx?

Why is northern Virginia experiencing such a massive influx of new residents from around the world? Actually, there are quite a few reasons, and each ethnic group moving here has a different driving force. Chinese residents are the fastest growing segment of the state’s population, and they’re coming to take advantage of employment, affordable housing and good schools. Indian residents have similar needs, and actually make up the most affluent demographic in the US (as well as in Virginia). Other nationalities come for a number of other reasons, including:

  • Affordable real estate – This is particularly true in comparison with the greater D.C. area, New York and San Francisco.
  • Excellent earning potential – Northern Virginia residents enjoy a higher annual income on average than anywhere else in the country.
  • Employment outlook – Tech companies as well as a range of other employers are moving to the state in significant numbers, offering excellent employment options.
  • A cultural melting pot – Virginia, particularly the northern half, is becoming a true cultural melting pot, and many foreign investors choose to move here to take advantage of that.

Where Are They Moving?

So, where are international buyers purchasing real estate? Where are they moving? You have a few main hubs – Richmond, Arlington and Alexandria, for instance. These cities offer direct access to Washington D.C. and the halls of power without forcing residents to actually live in the nation’s capital. There are other areas as well. For example, Fairfax County is home to almost 200,000 Asian residents.

Of course, not all international relocations are to major cities like those listed above. Others choose to move outlying areas where property prices are even lower, or to education hubs like Charlottesville.

What Are They Buying?

Predicting what various international buyers are purchasing is difficult, mainly because of the wide discrepancies between nations of origin, reasons for moving to Virginia and other factors. International real estate investors not relocating to the area tend to invest in multifamily properties, including apartments and condos. Townhomes are also popular. However, those choosing to move to the state permanently or semi-permanently purchase single-family homes or condos in walkable neighborhoods (this last is a prime target for Indian buyers, who value the ability to get around on foot).

The old Virginia is long gone – today’s state is culturally diverse and becoming increasingly more so every day. It’s an amazing time to live in northern Virginia, regardless of your nation of birth.

Source:

http://www.washingtonexaminer.com/koreans-indians-lead-northern-virginias-asian-population-boom/article/116434

Contact Gene Mock, Associate Broker, Premier Team, Keller Williams Realty for more information about moving to Northern VA

Gene Mock Realtor http://northernvirginiarealty.com/

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