Real Estate News Roundup
Once the warm weather hits, all you want to think about is toes in the sand and a cold drink in hand. I get it. It’s hard to pay attention to the news when the sun is shining. But don’t worry, I’m here to help. Here’s a quick roundup of current trends in the luxury real estate market.
Super-Luxury Home Sales
The numbers are in. In the first quarter of 2023, super-luxury home sales rose 11% since December. Knight Frank tracked 417 sales of $10 million+ properties during this period. Compare this to 376 sales in the final three months of last year.
A staggering 88 of these first-quarter sales occurred in Dubai. Major cities such as Hong Kong, New York, Los Angeles, Singapore, and London were the next hotspots for these uber-upmarket properties.
But if you have that kind of cash burning a hole in your pocket, don’t overlook Hawaii. Seriously. The Big Island might not have the glitz and glamor of Dubai. But we do offer stunning scenery, beautiful weather, and a laid-back lifestyle.
Check out this super-luxury listing at 45-5038 Nanaina Kai Rd in Honokaa, HI. It combines resort-style elegance with the best of outdoor living.
Second Homes Come First
It’s in the Wall Street Journal, so you know it’s official: people who inherit their parents’ homes as adults are more likely to sell the properties than keep them.
Maybe you’ve recently inherited your childhood home and are feeling guilty at the prospect of selling it. Don’t. Your parents would no doubt want what’s best for you. And maybe that’s a vacation home.
In fact, heirs are more likely to keep vacation homes or secondary properties in appealing locations. These houses make it easier for family members to split maintenance costs and get use out of the properties.
If you’re having trouble choosing an appealing location for your secondary property, we should talk. I can point to many just along the Kona Coast.
You Can’t Put a Price on Wellness
Many purchasing trends that emerged during the pandemic have passed. But even as people have returned to the office, they’re still willing to put money toward at-home wellness rituals.
I’m not just talking about Pelatons and opulent plunge pools. A recent piece in Mansion Global highlighted how you could integrate high-tech help into your yoga routine.
Ready to welcome our robot overlords while perfecting your downward dog? You might want to install a Lululemon Studio Mirror or a smart yoga mat that will guide your movements using in-built sensors. Better yet, put on some vibrating, posture-correcting yoga pants.
Now. Focus your breathing, align your spine, and imagine doing your daily vinyasa flow in Hawaii.
That’s Enough News For Now
Ready to get those toes back in the sand? Maybe it’s time you book that next flight to Hawaii. Connect with me, and I can tour you around some Big Island homes you have to see to believe.
Aloha, and welcome to Hawaii.