We are delighted to welcome you to the 15th edition of The Wealth Report.
Since the report was first published it has chronicled a period of radical change. We can honestly say that during our long careers in real estate, we have never seen the world change as rapidly as it is now. In our letter 12 months ago, we predicted that we were at the start of the new “roaring twenties.”
Little did we know about the challenging and unprecedented year that would follow!
Some of the “long-term” trends that we highlighted last year, such as the changing role of the office, have been supercharged by the pandemic. The behavioral changes that we had expected might play out over the next five or even ten years have happened in a matter of months and so too, our expectations of our homes have shifted dramatically.
In this issue, using data and insight from our research teams around the world, we endeavor to predict what may come next in residential and commercial real estate markets in an effort to guide our clients in navigating these new opportunities.
This year marks the 110th anniversary of Douglas Elliman and the 125th anniversary of our international partner Knight Frank. As two of the most trusted names in real estate, we have evolved dramatically, becoming the go-to global, full-service property consultancies. We continue to remain committed to our core principles – independent and client focused while always entrepreneurial. We believe these values resonate even more so during these turbulent times.
Covid-19 has had a global impact on all, whether economic or personal. Coincidentally, one of the themes of last year’s edition of The Wealth Report was “wellness.” This past year has certainly reminded us there is nothing more important than our health and that of our families.
We hope you have managed to stay safe throughout the pandemic and we wish you all the best during the remainder of 2021.