Demand for Second and Third Homes Rising

According to the survey, 13 percent of respondents claimed their next real estate purchase would be a vacation or holiday home, behind top choices such as upgrading or downsizing their primary residence, but ahead of other factors including the location of children’s schools, job changes or moving for tax purposes. The Knight Frank Survey indicates that pent-up demand could be a big factor, as 22 percent of survey respondents said the pandemic delayed their purchasing plans. The U.S. placed third on the list of preferred second-home locations in the survey, behind the UK and Australia.

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