As a member of Leading Real Estate Companies of the World, we are privy to global economic insights from LeadingRE’s Chief Economist, Marci Rossell, who takes complex economic issues and makes them relevant to buying and selling real estate. In this edition, we are covering the Policies Driving the Global Real Estate Market.
In 2018, the biggest factor driving the global real estate market will be policy, rather than economics.
POLICY IN THE U.S.
Changes in the U.S. tax code will now favor areas and markets that have low local tax rates. Home buyers will choose to relocate to the areas with a lower local tax rate. This will have a greater effect with first-time buyers, as well as families who are putting down roots.
POLICY IN EUROPE
Brexit is driving relocation activity to cities with a higher percentage of finance jobs. An increased percentage of firms in England are announcing they will change the domicile, which will drive people from cities such as London, to other European cities such as Frankfort and Dublin.
Contact a real estate professional for more market insights.