Homes in Climate-Vulnerable Areas
Homes located in regions prone to climate-related disasters, such as coastal areas susceptible to hurricanes, flood zones, and regions at high risk of wildfires, could see a significant drop in value.
Outdated Single-Family Homes
Buyers are less interested in single-family houses that haven't been remodelled in decades. Homebuyers now want contemporary amenities, energy-efficient systems, and minimum renovations.
Luxury Urban Condos
The epidemic made many individuals favour suburban or rural life over crowded urban living. Luxury urban condo values may be affected by this trend till 2024. City centre high-end condominiums.
Homes Near Polluting Industries
Polluting enterprises like factories, refineries, and roads will devalue nearby properties. Buyer preferences are changing due to environmental and air quality concerns.
Oversized Properties in Declining Neighborhoods
Oversized homes, especially in neighbourhoods with declining economic conditions or local amenities, are expected to lose value. High upkeep and property taxes might be burdensome without the lifestyle.