The Engel & Völkers News Brief: November 6, 2020

November 6, 2020

E&V News

Atlantic Canada’s housing market on fire as buyers from across the country swoop in to snap up homes
Financial Post
From low-interest rates to the built-up demand caused by the COVID-19 freeze, an array of factors have caused a surge of buyers coming from outside the Canadian East Coast into Nova Scotia, Prince Edward Island, and New Brunswick, many of them buying sight unseen according to Donna Harding of Engel & Völkers Halifax.

Tech Workers Take to the Mountains, Bringing Silicon Valley With Them
Wall Street Journal
The diaspora of tech talent is apparent in towns around the Rockies, where wealth and business activity are rising, along with property prices. Amy Alvarado of Engel & Völkers Bozeman says that since the pandemic, 95% of her clients have come from the Bay Area, many making all-cash offers.

Rocky Mountain high: sales surge in Colorado’s premier ski resorts
Financial Times
Since the outbreak of coronavirus, an influx of wealthy Americans have been fleeing big cities and heading to the luxury ski resorts of Aspen, Vail, and Telluride, with many buyers flying in on private jets and staying for months at a time before purchasing according to Erik Berg of Engel & Völkers Aspen.

Americas

A Prolonged U.S. Election Result Could Hamper Robust Fall Housing Market
Mansion Global
Demand for homes was at unprecedented levels for this time of year heading in the election, but that would cool if the nation faces political uncertainty.

Vancouver housing market posts 2nd-best October on record
CBC
The Real Estate Board of Greater Vancouver says October home sales were up 29 percent compared to a year ago, making it the second-best October on record. Home sales were also up 1.2 percent from September amid a surge in sales of detached homes.

Global

Surge in European house prices stokes concerns over market resilience
Financial Times
European financiers are beginning to question if the economic fallout from the pandemic will catch up to Europe’s soaring housing market, especially as many countries reimpose lockdowns.

Luxury Living

Home Gyms Are All the Rage. Here’s How to Make Yours Better Than Ever
Elle Decor
The days of the grungy pain cave or the unfinished basement with a dusty weight bench are over, home gyms are all the rage right now and are sleeker and chicer than ever before.

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