More than ever, escaping the hustle and bustle of the city is on the minds of luxury home buyers. With stay-at-home orders mandated across the country and the globe, many high-wealth individuals have escaped to their second homes where their families have more space to live, work and enjoy the outdoors - a luxury that can be difficult to find in many densely-populated cities.
Photo Credit: Christie’s International Real Estate - Seattle
People who used to travel the world and stay in beautiful homes to get away from their busy lives are now thinking about second homes because, in unpredictable times like these, travel just isn’t an option. “Absolutely, the incidence of second home buying will go up,” says Dan Conn, CEO of Christie’s International Real Estate.
According to Harris Poll’s April 28, 2020 report, 43 percent of urban dwellers and 26 percent of suburbanites have recently browsed real estate websites for homes/apartments to rent or buy. The coronavirus pandemic has people thinking about how they want to live, according to Conn. With more opportunity to work remotely, properties in rural areas or acreage properties within a short drive from urban centers have become attractive options as they provide a sense of separation or distance.
Photo Credit: Christie’s International Real Estate - Seattle
“Inquiries about vineyards, acreage estates and off-the-grid properties have increased significantly over the last two months,” says Kendra Ratcliff, COO of Washington’s Christie’s International Real Estate - Seattle. “Our clients are re-evaluating their lives and realizing that working from home is not only possible but preferable.”
This dramatic shift in interest is being seen on a global level. “Our brokers throughout the world, from Portugal to Antigua to Amsterdam and Monaco, are receiving more and more interest in properties that promote a more self-sustaining lifestyle,” continues Ratcliff. “Washington has an incredible array of locations where one can find luxury properties. The Pacific Northwest is truly appealing to our clients because of the area’s natural beauty and outstanding real estate options that range from secluded island properties in the Puget Sound to ranches in Eastern Washington, vineyards in the Walla Walla, Columbia and Yakima Valleys and mountain-top getaways near Mt. Rainier or the breathtaking Okanogan in Washington and British Columbia, Canada.”
Photo Credit: Christie’s International Real Estate - Seattle
Sacrificing luxury for location is no longer a concern as remote properties in the luxury category are far from the rustic cabin in the woods of yesteryear. “While you may be miles from the nearest grocery store, these rural estates have the same or better amenities as their urban counterparts,” Ratcliff explains. Helipads, pools, hiking trails, equestrian grounds, gardens, and vineyards are but a few of the exterior features you might find. While gourmet kitchens, “smart home” technology, athletic courts, wine cellars, gyms, and saunas are often found inside these highly sought-after homes.
High-end rural properties in the Pacific Northwest are not new, but this shift in the luxury real estate market has created a new demand for them that is sure to stay. “I think [second home buying] will be a secular shift in the market. That won’t change,” concluded Conn.
Photo Credit: Christie’s International Real Estate - Seattle
“Those looking to distance themselves physically, whether it is a primary residence or vacation home, will never have to compromise location for luxury,” Ratcliff assures. “We have incredible properties in all corners of Washington that fit the needs of our high-wealth clients.”
For more information about rural luxury properties throughout Oregon and Washington, please contact Kendra Ratcliff at 503-330-6677 or kendraratcliff@christiesrealestateseattle.com.
