01-28-2021, 04:03 AM
This is why real estate prices have increased during the pandemic:
The newfound freedoms of remote working have prompted a wave of people to flee the US mainland for the Hawaiian islands. While the total number of relocatees is unknown, signs point towards a major influx. Real estate agents say demand has reached a fever pitch. A scheme (Movers & Shakas) backed by local business owners to sponsor remote-workers’ flights to Honolulu, in exchange for community service, received more than 50,000 applications for just 50 slots.
In the second half of 2020, single-family homes that would typically take several months or years to sell attracted new buyers in a matter of hours or days, Hawaii realtors say. Bidding wars are now commonplace, driving home sale prices to new heights.
Additionally, realtors say properties that would once have been purchased as vacation homes are increasingly being sold as owner-occupied.
https://www.theguardian.com/us-news/2021...g-covid-19
The newfound freedoms of remote working have prompted a wave of people to flee the US mainland for the Hawaiian islands. While the total number of relocatees is unknown, signs point towards a major influx. Real estate agents say demand has reached a fever pitch. A scheme (Movers & Shakas) backed by local business owners to sponsor remote-workers’ flights to Honolulu, in exchange for community service, received more than 50,000 applications for just 50 slots.
In the second half of 2020, single-family homes that would typically take several months or years to sell attracted new buyers in a matter of hours or days, Hawaii realtors say. Bidding wars are now commonplace, driving home sale prices to new heights.
Additionally, realtors say properties that would once have been purchased as vacation homes are increasingly being sold as owner-occupied.
https://www.theguardian.com/us-news/2021...g-covid-19