{"id":392469,"date":"2022-01-11T01:28:44","date_gmt":"2022-01-10T22:28:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-remote-work-set-to-fuel-luxury-house-boom-report\/"},"modified":"2022-01-11T01:28:44","modified_gmt":"2022-01-10T22:28:44","slug":"crypto-remote-work-set-to-fuel-luxury-house-boom-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-remote-work-set-to-fuel-luxury-house-boom-report\/","title":{"rendered":"#Crypto, remote work set to fuel luxury house boom: report"},"content":{"rendered":"<p>&#8220;<strong>#Crypto, remote work set to fuel luxury house boom: report<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Remote work and a surge of wealth created by cryptocurrency are fueling demand for luxury homes, according to a report.<\/p>\n<p>The luxury real estate boom is being made possible thanks to low interest rates, record-high levels of inflation, and fat bonuses, according to a report by Sotheby\u2019s International Realty.<\/p>\n<p>This combination of factors \u201cmake investing in a concrete, fixed asset like real estate attractive to many as they balance their portfolios,\u201d Bradley Nelson, Sotheby\u2019s chief marketing officer, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-10\/crypto-hybrid-working-will-drive-luxury-housing-boom-in-2022?sref=zFmdEBXN\">told Bloomberg<\/a>.<\/p>\n<p>\u201cThe real estate market is now being driven by hybrid work vs. remote work,\u201d Nelson said.<\/p>\n<p>Just how hot is the real estate market? According to Nelson, there were multiple billionaires competing to buy a co-op in New York that listed for $40 million.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-wfh-luxury-home-08.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Mature woman using smartphone and working from home, connected, technology, efficiency\" class=\"wp-image-20784710\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-wfh-luxury-home-08.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-wfh-luxury-home-08.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-wfh-luxury-home-08.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The increasing popularity of remote work has sparked demand in larger living spaces far from the city, according to observers.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The luxury real estate market in Manhattan bounced back last year. Of the 1,877 properties that sold at more than $4 million, some 400 of them closed at prices north of $10 million \u2013 a figure that competes with the pre-pandemic boom days of nearly a decade ago, according to Bloomberg.<\/p>\n<p>In the last 18 months, the COVID-19 pandemic triggered a surge in demand for homes in the exurbs. Nelson said he expects that trend to continue.<\/p>\n<p>That means people are looking as far as the Hudson Valley in New York; Trousdale County, which is north of Nashville, Tennessee; and Dripping Springs outside of Austin, Texas, where they are willing to put down north of seven figures for a property.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>The Sotheby\u2019s report quoted one Hudson Valley broker as saying that those who can be designated \u201cgood buyers\u201d must be ready to pony up somewhere between $1.5 million to $2.5 million \u2013 more than double the previous range of $600,000 \u2013 $700,000.<\/p>\n<p>Though the area did not experience the buying frenzy that was witnessed at the start of the pandemic in 2020, the Lower Hudson Valley continued to report historic gains in real estate transactions last year.<\/p>\n<p>There was a nearly 20% increase in residential sales in Rockland County in 2021 compared to the previous year, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.lohud.com\/story\/money\/real-estate\/homes\/2022\/01\/05\/residential-real-estate-finishes-strong-hudson-valley-2021\/9087904002\/\">according to the Rockland\/Westchester Journal News.<\/a><\/p>\n<p>The number of properties sold in neighboring Westchester County rose by 19.1% last year compared to 2020 while Putnam saw an increase of 10.6% versus the previous year.<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n home price also rose. A single family home in Rockland County that cost $500,000 rose to $560,000 last year. In Putnam, the media sale price went from $380,000 in 2020 to $440,000, according to data from the Hudson Gateway Association of Realtors.<\/p>\n<p>Industry observers said that low inventory and sky-high demand account for the surge in prices.<\/p>\n<p>Buyers are also becoming more attracted to low-tax areas like Texas and Florida, according to Nelson.<\/p>\n<p>\u201cThat\u2019s really the headline in both the United States and internationally,\u201d says Nelson. \u201cYou\u2019re going to see the greatest investments continue to be in tax havens.\u201d<\/p>\n<p>Some 319,020 residents fled New York State between July 2020 and July 2021, according to recent US Census Bureau data \u2014 a 1.6% year-over-year loss that made New York the nation\u2019s leading state for population decline.<\/p>\n<p>Texas, which grew by 310,288 people and doesn\u2019t charge its residents any income tax, notched the country\u2019s largest gain.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-wfh-luxury-home-07.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Studio\/CGI, Bitcoin, cryptocurrency\" class=\"wp-image-20784720\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-wfh-luxury-home-07.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-wfh-luxury-home-07.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-wfh-luxury-home-07.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Cryptocurrency\u2019s move into the mainstream could mean that future transactions in real estate will be made with crypto.<\/figcaption><figcaption><span class=\"credit\">Getty Images\/Westend61<\/span><\/figcaption><\/figure>\n<p>Just behind Texas, Florida saw the second-biggest increase in population, swelling by 211,196 residents between July 2020 and July 2021.<\/p>\n<p>The Sunshine State has also remained more open than New York during the pandemic \u2014 in part by recommending, not requiring, face coverings \u2014 and it, too, has lured in business-minded folks.<\/p>\n<p>Nelson said the day isn\u2019t too far off when buyers and sellers complete their transactions using cryptocurrency.<\/p>\n<p>\u201cTransacting in crypto is going to grow in exponential ways,\u201d he said.<\/p>\n<p>\u201cIf wealth creation drives a market, and crypto is driving wealth creation, then I think there\u2019s going to be an increased demand for that kind of payment, as opposed to cash.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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The luxury real estate boom is being made possible thanks to low interest rates, record-high levels of inflation, and fat bonuses, according to a report&#8230;<\/p>\n","protected":false},"author":1,"featured_media":392470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-wfh-luxury-home-02.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[123623,6642,76659,83955,71226,6474],"class_list":["post-392469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-10-22","tag-florida","tag-luxury-real-estate","tag-pandemics","tag-real-estate","tag-texas"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/392469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=392469"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/392469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/392470"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=392469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=392469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=392469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}