December 25, 2024 - 12:20
Recent insights into the luxury real estate market indicate that a significant portion of million-dollar homebuyers are not local residents. While approximately 60% of these buyers hail from the area, it is noteworthy that over 20% come from outside the region, highlighting a trend of external investment in high-end properties.
This influx of non-local buyers can be attributed to various factors, including the search for vacation homes, relocation for work, or investment opportunities. Many affluent individuals are drawn to areas with desirable amenities, strong school systems, and promising economic prospects.
The presence of out-of-state buyers can drive competition in the luxury market, often resulting in bidding wars and escalating property values. As remote work becomes more common, buyers are increasingly willing to invest in locations that offer a high quality of life, regardless of their current residence.
Understanding the dynamics of these transactions is crucial for real estate professionals navigating this competitive landscape.
June 24, 2025 - 06:13
Goldman Sachs Appoints Aekloveya Shyam as Head of M&A in Global Real EstateGoldman Sachs has made a significant leadership change by appointing Aekloveya Shyam as the new head of mergers and acquisitions (M&A) within its Global Real Estate Group. This decision was...
June 23, 2025 - 23:14
Katherine Cruz Elevated to Engineering Manager at Hancock AssociatesDanvers, MA—Hancock Associates has announced the promotion of Katherine Cruz, P.E., LEED AP, to the position of Engineering Manager. Known affectionately as `Katie` among her colleagues, Cruz has...
June 23, 2025 - 11:48
Will the US-Iran War Trigger an Economic Crisis in America?As tensions escalate between the United States and Iran, concerns are mounting about the potential repercussions on the American economy. Analysts warn that a prolonged conflict could lead to...
June 22, 2025 - 21:27
This Week's Most Sought-After Brooklyn Properties: A Focus on Ditmas ParkIn the latest round-up of popular Brooklyn listings, attention has shifted to an array of charming properties, including a notable Colonial Revival home in Ditmas Park. These listings showcase the...