While the rest of the world is at a standstill and the lower end of the real estate market has all but ceased, it turns out the coronavirus pandemic has done little to slow the luxury property sector. With interest rates hitting historic lows, snapping up the opportunity to land a trophy home or luxury estate, that would otherwise not be available, seems too good to miss. According to a Sotheby’s International Realty report, in Turks and Caicos, real estate sales are booming, outpacing the two previous years to date. Closer to home, a Bel Air estate sold for $43.3 million – one of the priciest sales L.A. County has seen this year.
Vacation locations too – from ski towns like Aspen to the Hamptons, Palm Beach and Malibu – are also booming, with Christopher Sinclair (the former CEO of Mattel) selling his oceanfront Palm Beach estate for $24.2 million. The pandemic has impacted our freedom of travel, so if we are to stay at home as much as possible, then purchasing a vacation home is the ideal solution to never having to sacrifice the luxury we require. Of course, the Sienna Charles knowledge, expertise and contacts are the best place to start in the procurement of these luxury estates.