People are spending a lot of time at home nowadays, so why not upgrade your living space? We caught up with the expert realtors at Berkshire Hathaway for an update on the luxury market.
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“We have our local kama’aina luxury buyers that we usually have, and we’re also seeing a lot of California and the West Coast in general,” said Rachel Bradley, a realtor with Berkshire Hathaway HomeServices Hawaii Realty. Although these markets, as well as New York and Texas, were already popular, this is especially true after the pandemic.
“People want to be in a place where they can spend time with their family, so they want outdoor space,” said Bradley.
Because more people are working from home, more people are looking for office space in their homes as well, and more high-net-worth buyers are looking to diversify their holdings in real estate.
“They are using stock market growth to diversify into real estate, and they actually don’t have to pull it out of the market,” said Bradley. “They just use their portfolio to back a purchase with a line of credit and take advantage of these great interest rates we have right now.”
Bradley has been looking for up-and-coming neighborhoods around Oahu, which she says are largely in Diamond Head, the North Shore and East Oahu. She also tends to recommend oceanfront properties, which appreciate quickly.
For more information: bhhshawaii.com