Page 90 - Ocean Blue World 27th Edition

BEHIND THE SCENES
GLOBAL REAL ESTATE
OBy Paul Benson
cean Blue went behind the scenes with one of the industry’s leading experts to understand why the global real estate boom will not be slowing down anytime soon. What started
the frenzy of 2020 was the need to feel safe and normal again, to have more space, and even to escape the dreaded politics in certain areas. Additionally, low interest rates caused a rapid shrinkage of real estate inventories. Then came the fun part — wealthy home collectors from around the world buying up estates, castles, ranches and compounds in the hottest markets including Park City, New York, Los Angeles, Denver, Phoenix and Mexico´s
Photos Courtesy Of: Engel & Völkers Gestalt Group, Engel & Völkers Snell Real Estate
Monitor's Rest, Park City, UT
Boom
leading destination — Los Cabos. As fast as the world had ever seen, smart buyers got in the game and began to move on homes that offered higher levels of privacy, welcoming outdoor spaces, unique offices, private pools, fine dining options and wellness experiences. There's no question that now is one of the most noteworthy moments in the global real estate market. To put the numbers into context, Engel & Völkers Gestalt Group based in Park City, Utah closed 2020 with a 48% increase in sales volume from the previous year; Engel & Völkers Snell Real Estate in Los Cabos, Mexico, experienced triple the number of accepted offers in Q1 of 2021 compared to Q1 of 2020.
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