Turks & Caicos Real Estate Market Report Year In Review 2020
2020 TURKS & CAICOS REAL ESTATE MARKET CLOSES LIKE A CHAMP
The 2020 TCI real estate market performed better than we ever could have hoped for in the context of COVID–19, a four-month country-wide shutdown and stringent travel requirements. And I guess our task in this space is to seek to answer the question, as set forth by the great David Byrne of Talking Heads: “Well, how did we get here?!”
Let’s start abroad: After the stock market cratered, it began to recover quickly and it became clear this was not a rerun of the 2008 financial crisis. Soon thereafter, we witnessed affluent buyers starting to move on luxury vacation property from Vail to Aspen, and from the Hamptons to South Florida. COVID–19 was triggering the opposite of the financial crash of September 2008, in that luxury real estate was highly desired by those looking for easy-to-access, safe-haven retreats away from urban areas and primary homes. With airports and resorts closed, and most commercial planes not flying, the luxury market was, quite urgently, seeking out real estate! Download the full report with the link below.
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