In the wake of the global pandemic, priorities are shifting. As restrictions are lifted, not all lives are simply snapping back into place. For instance, many people who found themselves working remotely during the pandemic are finding that they’re able to continue doing so, establishing a whole new sense of equilibrium to their work-life balance.
As a result of these changes, people are gaining flexibility in where they can work and when they can travel. Consequently, these newly nomadic workers are looking at real estate investments and travel with fresh eyes.
In this post, we will take a look at some of the recent—and unexpected—trends in real estate and travel for 2021 and beyond.
Where to Invest in 2021
What areas and opportunities can you expect to see expand when it comes to real estate investment and travel?
One of the biggest shifts in the past year has been in people seeing property as a personal retreat. This is especially true as workers are now able to serve as “digital nomads,” working remotely from essentially any destination they choose.
One global wealth management business, in particular, understands this quite well, as reflected in its acquisitions. For example, it partnered with a real estate investment firm to produce a combined residential and retail development in the heart of Lisbon, Portugal. The result is a community that offers residential living and luxurious amenities to international travelers or those who are simply seeking refuge or retreat.
In other words, many investors are less concerned about a property’s rental value and more interested in using a property as a second home, continuing their digital commute while they enjoy the sights, sounds, and shopping in a different land with different cultures.
Areas in Close Proximity to Airport
When examined from a traveler’s perspective, proximity to an airport adds considerable value. After all, who wouldn’t want the convenience of popping in and popping out of the country with relative ease?
Places like Rome, Milan, and Florence are currently seeing increased demand for real estate, partly because they are conveniently located within an hour of an international airport. Those who purchase these properties to use as vacation rentals can naturally use this as a selling feature, as well.
While travelers are looking for retreat destinations, this doesn’t necessarily mean they’re seeking remote cabins tucked away in the mountains.
On the contrary, travelers often seek out urbanized areas where they can experience the vibrance of the city, like the planned residential and retail experience coming to Lisbon.
In other cases, urbanized real estate can place you near the historic heart of your favorite city. Travelers love Venice, for example, for their dream of living near the picturesque canals and world-famous architecture.
Some people are naturally cautious about living and traveling abroad. Gated communities can offer a safe bubble of safety, providing residences and services without demanding that a person venture too far outside of their comfort zone.
Areas with Access to Amenities
International travelers want convenience. Properties that are located near amenities such as parks, bakeries, restaurants, and retailers are in particularly high demand. This also means that if you choose to invest in these types of properties, you’ll want to clarify which amenities—if any—are near your prospective real estate investment.
How to Invest in International Property in 2021
If you’re looking to invest in international property, you’ll quickly learn that you’re not alone. Many people are looking to invest in a second home or even a rental property overseas. You’ll need to contact an international real estate agent, but before you do so, you should consider what your needs are.
- Am I looking for a second home, a rental property, or both?
- Am I looking for a historic setting or an urban escape?
- What amenities are essential to me?
- What is my overall budget?
These considerations may be helpful in narrowing the field as you consider where and how to invest.
A Long-Term Investment
The best news, however, is that the international real estate market isn’t expected to die down anytime soon. Investing in property today can provide dividends for years to come, whether you plan to rent a property or use it as your own retreat center.
Of course, that also means that the market has never been more competitive. Take your time, plan carefully, but be adaptable, as the market and availability can change abruptly.