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.