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Is Remote Luxury Real Estate the Next Big Thing? Main Photo

Is Remote Luxury Real Estate the Next Big Thing?


Social distancing or no, remote luxury may be just what the doctor ordered.
Posted: July 15, 2020 by Anna Jotham

Imagine next level social isolation. A luxe retreat in the mountains. A woodsy hideaway surrounded by unspoiled nature and abundant wildlife. A lake house nestled in a quiet bay on a private swath of sugary sand, with all the amenities you could dream of. A private tennis court and built-in pool. Perhaps floor to ceiling windows and a bluffside view that never lets you feel closed in.

With social distancing becoming commonplace these days, luxury remote property owners seem to have isolation all figured out. Why stand shoulder to shoulder with family in a crowded house with barely a moment of peace — not to mention waiting in line for the loo — when you can have your own faraway estate on vast, verdant grounds?

 

An uptick in luxury housing in remote locations

The global COVID-19 pandemic has, perhaps unsurprisingly, led to increased interest in secluded luxury properties. And it's easy to see why remote luxury homes could be the next big thing. For those with deep pockets, social distancing without giving up the great pleasures of life eases the pain of isolation, as it would for anyone. So it's no wonder we're seeing a boom in demand for remote, luxurious homes, some with sprawling floor plans and expansive space.

Best of all, if you have the capital, you don't have to share.

 

Shifts in the economy and real estate

While stay-at-home orders, social distancing protocols and non-essential activities are commonplace, the world of real estate is changing as well. Open houses as we know them are a thing of the past, and home showings, including those for luxury listings, are going virtual. Economic shifts leading to job loss and supply funnel changes could have a major impact on property markets. Yet in the midst of all of these changes, the luxury market actually seems to be picking up.

While densely populated areas may see a down-tick in property movement, it appears affluent buyers are showing interest in high-end homes in rural locations with less spread of the virus: a getaway from both the crowds and the highest risk areas.

 

Comfort in isolation: a great luxury

Our economic and public health landscapes are shifting rapidly, so it's nearly impossible to get a clear picture of the future of real estate. But for affluent buyers, settling down in a place far from neighbors and strangers, a place where isolation is easy as the living, you can't put a price on remote luxury. Of course, everything is for sale — so if you can price it, the real estate market is indicating that buyers are likely to come.

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