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The buzz around the mayoral race is everywhere—how did a city famed for capitalism elect a socialist? I was speaking at a Spanish conference as part of the International Delegation, and the same question kept surfacing, though with less detail. From both abroad and home, the narrative is identical: “How could New York choose a socialist leader?”
My answer: politics is a battlefield, but real‑estate is a business. The city may take a swing, but it keeps moving forward like a steamroller—steady, relentless, and immune to any single leader.
Luxury market trends show that the wealthy are not fleeing. In the weeks before the election, contracts over $4 million surged: 30, 31, 37, then 41 during the election week, and 25 the week after. Over the past decade, despite fiscal shocks, COVID, and rate hikes, Manhattan’s prices have held steady, signaling resilience. We’re now at a turning point that could bring 5–7 years of modest, steady appreciation.
The election’s real impact is a broader shift: lower rates and pent‑up demand will fuel a new cycle of constrained inventory. If you’re looking to buy or sell within the next 5–7 years, now is a favorable window. It’s not about timing the market; it’s about staying in it.
So, if you’re ready to act, choose a broker you trust and start the conversation.
SIMED 2025 – Malaga, Spain
I was honored to join a panel at this year’s SIMED conference in Malaga, discussing the future of luxury real‑estate and the experiences that international buyers now demand. With an average of 300 sunny days a year, Andalusia—especially Marbella and Estepona—offers exceptional opportunities. Contact me to explore how these markets align with your goals. View the full presentation on Malaga’s growth here.
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