After a tumultuous and tragic 2020, we enter the new year with guarded optimism as the world continues to battle the coronavirus pandemic. How countries heal from the crisis is crucial to struggling economies and the endurance of surprisingly strong real estate markets.
From San Francisco to Dubai, the pandemic upended housing supply and demand, but in some cases, for the better.
In the U.S., home prices have reached record highs as buyers looking to flee dense cities are seeing intense competition for single-family homes that are in short supply. New York City, in particular, saw a mass exodus last year and plummeting transactions once the city became the epicenter of the pandemic, and odds are those residents are not returning in great numbers in 2021 despite distribution of a vaccine.
London, on the other hand, saw a burst of big deals—many of them for country homes away from the city—in light of a stamp duty holiday. Its expiration in March means a busy first quarter, at the very least, is on tap.
Dubai, meanwhile, shaken by the postponement of Expo 2020, is hoping the mega event, now planned for this October, will spur much-needed foreign investment in the city, which has faced years of falling prices.
In this special section, you’ll also get to read about what’s coming in Miami, Los Angeles and Sydney; exciting developments launching sales; what’s new in smart home technology and amenities galore. And we will give you the inside scoop from industry insiders on interior design trends.
Join Mansion Global as we guide you through everything you need to know about luxury real estate in 2021.
Luxury Housing Heads Into Robust Year, With Remote Work, Vaccine Driving Trends
Demand for single-family homes, private outdoor space and enough room to work remotely will drive robust luxury home sales in 2021—benefiting some of the world’s top luxury markets more than others.
There is now ample data from around the world to support what began as mere speculation nine months ago: That the global Covid-19 pandemic would spur an unprecedented shift in lifestyle choices and housing needs, marked by an overwhelming preference for larger houses, more amenities and less population density.
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