Sotheby's latest luxury outlook report compiles data from the world's leading real estate markets to make sense of the current market and project the trends that will define the coming months.
Real estate throughout the world has been significantly affected by the pandemic. Shifts in demand as remote work has become persistent and residents put new emphasis on lifestyle comforts have intersected with major changes in supply that stem from both supply chain constraints and hesitancy among potential sellers. The global real estate market has seen rising prices, faster transaction times, and intensifying competition as properties come to market.
This report outlines how lifestyle considerations and financial markets are contributing to the demand side of the market. The prediction is that prices will continue to rise and that the advantage will be significant for buyers who can afford all-cash, no-contingency transactions. One implication is that buying sooner is favorable, because the longer a buyer waits, the higher the price will be even for like properties. Because of this prediction and the tax treatment of real property in many markets, luxury real estate is regarded as a sound investment.
Click the cover image below to read the entire report, and let us know if you have questions about market trends in Sarasota or global destinations. The Sotheby's network connects experts in every market to ensure the highest level of service and current insight for our clients' benefit. Click here to email now.