Zackary Wright is currently the Executive Director for Christie's International Real Estate, managing both the Asia Pacific region and Western regions of the U.S.  

Wright oversees Christie's business throughout Asia and western North America, and manages the existing Affiliate network in the Western United States, and is largely focused on expanding the Affiliate network in the Asia Pacific region.

WILLIAMS MEDIA spoke with Zackary Wright, about his experience in the real estate industry, and more specifically about Asia's luxury real estate market. 

When did you start working in the property/real estate industry? 

I began my career as a real estate agent and brokerage manager in a high-end luxury market in California over 30 years ago.

What Asian markets is Christie’s most active in these days and why do you think this is? 

As a company dealing only in the luxury sector, we have an increasingly high profile presence in those markets where there is a strong luxury primary and/or second home market: Hong Kong, Japan, Singapore, and Thailand. I would also include Australia where we dominate in the ultra high-end market.

We don't create new markets, we follow our clients and other high-net-worth individuals to be active where those individuals live or where they want to purchase.     

As the Executive Director for Asia Pacific, what trends are you seeing in cross-border transactions within the luxury residential market? 

In spite of restrictions on the outflow of capital, the Chinese continue to be drivers of investment outside of China. Thailand is a strong second home and retirement market because it has great product at relatively attractive price points. Accordingly, mid-market Thai projects are attracting large numbers of investors from Hong Kong as well as other southeast Asia countries.

What are some special and unique properties Christie's are promoting at the moment that appeal to the Asian market?

• The Boyd Residence, the stunning 2400 square metre, three-level penthouse atop Sydney's ANZ Tower is simply the best penthouse ever offered in Australia.
• Galleria Costa, located approximately 90 minutes from Tokyo with a mesmerizing view of Sagami Bay, seems to melt into the rugged coastline. This resort style property captures the essence of Japan and is a property of true international appeal. 

What are some key emerging luxury markets in the Asia Pacific?

Vietnam certainly comes to mind. Abundant sunshine and a beautiful coastline are the drivers motivating a multitude of international resort developers who are there or are planning to be there. Okinawa, with a new Four Seasons on the drawing board, is attracting interest as are Cambodia and Myanmar.

What geographic markets in the Asia Pacific are in the greatest demand, and where are these buyers based? 

When it comes to demand, seemingly unstoppable Hong Kong has to top the list. The amazing thing about Hong Kong is that demand is at every price point. In the high end, the buyers are generally mainland Chinese or wealthy locals. The demand in Singapore, also driven by scarcity, differs from Hong Kong in that buyers are much more geographically diverse.   

What trends do you see affecting or driving the luxury property space over the next few years? 

One trend that immediately comes to my mind is happening in Japan. Japan is riding a wave of international appeal driven by a fascination with Japanese architecture, design, culture, and cuisine. This trend, if it can be called a trend, has created international interest and is having a positive effect in the luxury property space and will surely continue through 2020 when Japan hosts the Olympics and hopefully beyond. 

For more information about Asia's luxury real estate market, phone or email Zackary Wright, Executive Director for Asia Pacific and Western Regional Manager for Christie's International Real Estate via the contact details listed below.

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