There’s a lot of talk about the future of the real estate market right now, but the truth is that little is known, since the current situation is unlike anything we’ve ever seen before. We’re not facing an isolated economic crisis, nor a real estate bubble like the ones we’ve experienced in the past. It’s not about Brazil, the real, or the U.S.
We are currently in the midst of a global crisis—one without rules or clear definitions—that is affecting a wide range of sectors and impacting each one in different ways.
What I’m sharing is based solely on my personal opinion, drawn from articles and news reports, data from the NAR and Realtors Magazine, ORRA, and other sources. It’s also based on what we’ve been experiencing, feedback from our contacts, and demand and activity over the past few months.
For local residents, we see two extremes: interest rates are lower than ever before, so for those who are employed and, to some extent, financially secure, now is the time—and the market is welcoming these sales with open arms. Those who, on the other hand, have lost their jobs or are not as financially secure are postponing their home-buying plans or extending and modifying existing contracts.
For international buyers—specifically those from Brazil—we’re also seeing multiple scenarios: investors who had already allocated their capital in dollars are taking advantage of the moment, since opportunities always arise during times of crisis, and these sales are booming. Whether in the residential housing market or the vacation home market, we’ve seen a significant increase in the number of homes on the market. Buyers who were just starting the process or were in the process of securing financing are choosing to wait a little longer, especially since the banks themselves are being somewhat inconsistent with financing and the requirements for it at the moment.
If we consider that the economy here is reopening, with many people returning to work and tourism slowly picking up again, Orlando has high hopes for welcoming visitors, provided that the necessary precautions and new health guidelines are followed. Vacation rentals are already making a comeback, the theme parks have set dates for a gradual reopening, and the market will continue to rebound.
I understand that the big difference in the coming months will be that construction companies will be more flexible regarding procedures, offering greater incentives to return to the high level of sales they were accustomed to. Buyers will now have a little more bargaining power. Good news! The systems are less rigid, and a much-needed trend toward change and modernization has had to occur quickly. More good news! A possible decline in prices may occur, but I don’t foresee a major drop like in previous years. However, this is undoubtedly the time for those in the market to buy to stay alert and ready to close a deal, as opportunities will arise.
We are monitoring trends, figures, and appreciation rates based on the area, the property's profile, and the amount to be invested so that we can gain a more detailed understanding of each client's profile.
If you'd like more details on figures, sales, or financial returns for a specific area—or if you simply want to understand the options and features of each—please contact us. We'd be happy to help!