• Billionaires are buying bundles of properties for several advantages.
• The ultrawealthy set a new price for the market, sending ripple effects to nearby areas.
• Their presence can also attract unwelcome visitors to the areas.

The real-estate portfolio of the ultrawealthy is typically expansive: Coastal homes, overseas vacation getaways, and a handful of homes scattered in cities where they frequent.

However, billionaires like Jeff Bezos, Taylor Swift, and Mark Zuckerberg have recently been snatching up multiple properties in the same place.

Over the course of two years, Bezos spent over $200 million on three properties in an exclusive South Florida enclave 11 miles from Miami. Meanwhile, Swift dropped nearly $50 million in one of New York City's most trendy neighborhoods, while Zuckerberg is building a 1,400-acre compound in Hawaii that he describes as a "little shelter."

While some billionaires want to bundle their properties for privacy, others simply seek space. Despite the reasoning, monied buyers collecting multiple homes at a time can typically name their own price, dramatically affecting the surrounding real estate market.

"Hearing what Bezos paid for those two properties — no one had ever paid that before," Miami real-estate broker Jill Hertzberg of The Jills Zeder Group told Business Insider.

She's referring to how, in 2023, Bezos paid $68 million and later $79 million for adjacent mansions in Indian Creek, Florida. He'd go onto purchase a third mansion on the island, which he secured for $90 million.

"We all rise together, and we sink together," she added.

The Bezos Effect is changing South Florida's pricing landscape

Longtime Seattle resident Jeff Bezos announced in 2023 that he was leaving the West Coast and heading to Florida — following the trend of wealthy elites seeking solace in the Sunshine State.

Bezos, whose net worth is $233.7 billion as of January 2024, according to Forbes, didn't buy just one home in Florida; he bought several.

His homes are located on a secluded island called Indian Creek, nicknamed "Billionaire Bunker," and for good reason. The island has security patrolling the perimeter 24/7, so unwelcomed visitors — like paparazzi or fans — can't come close. Although it's unclear why he bought several homes on Indian Creek specifically, privacy is definitely a top perk.

Bezos is one of many wealthy individuals to move to the island, and his mansions have raised property values drastically. Miami-Dade County property records show his $79 million purchase sold for $28 million in 2014. (It was listed for $85 million.)

"When Bezos came in and bought 11 and 12 Indian Creek Island Road, those are both tear downs," Hertzberg said. "So that sets the land at that price for those sized lots, those 80,000 square foot lots."

A roughly 80,000-square-foot vacant lot neighboring Bezos' property hit the market in December 2024, asking for $200 million, a little more than what the billionaire paid for the two lots. That's the Bezos effect.

Ilya Reznik, the vacant lot's listing agent, told BI that sellers she's spoken to will not accept less than what Bezos paid.

Hertzberg said the Bezos Effect has spilled off the island to nearby neighborhoods like Bal Harbour and Surfside, which sits just across the water from Indian Creek and has similar views.

For example, her son, Danny Hertzberg, broke a record in October 2024 for the highest sale in Surfside after selling a home for $19.7 million.

Taylor Swift's New York compound

Taylor Swift owns multiple real estate properties, including mansions in Rhode Island, Beverly Hills, and a penthouse in Nashville.

However, over the last decade, Swift has turned her properties at 155 Franklin Street in the Tribeca neighborhood of New York City into a compound, paying a total of $47.70 million for privacy, square footage, and the status that comes with living in one of the city's chicest neighborhoods.

BI's Britney Nguyen and Jordan Hart reported that Swift bought two penthouse units from Peter Jackson of "The Lord of the Rings " in 2014 for $19.95 million. Jackson paid $17.35 million for the units — which form a duplex in the Sugar Loaf, a pre-war building in Tribeca — when he purchased them in 2008, Curbed reported. The six-story building has 10 units and two apartments per floor, as said on its StreetEasy profile.

Swift also purchased the townhouse next door to the Sugar Loaf for $18 million in 2017 and another apartment in the Sugar Loaf building for $9.75 million in 2018.

Real-estate agent Andrew Azoulay told The Wall Street Journal he suggested Swift use the townhouse as a garage that connects to the Sugar Loaf through the additional apartment, allowing her to enter and exit the building without using the front door.

Swift's properties in the building appear to be the priciest sold in recent history. Zillow records show a three-bedroom, three-bath apartment in the building sold for $5.95 million in 2023, and a similar unit sold for $7.1 million in 2022. (A four-bedroom unit was sold off the market in January 2024, so the price wasn't available, according to StreetEasy.)

Noble Black, a Douglas Elliman real-estate agent, told BI that Swift hasn't changed the Tribeca real estate landscape much with her high-end purchases. The neighborhood has long been appealing to luxury buyers looking for more spacious apartments in a quieter area of Manhattan.

Likewise, most Swift fans can't afford to buy an apartment in her neighborhood because she lives there, so it's not like Tribeca has been crawling with Swifties since she moved in.

Black also said buyers looking at listings in Tribeca aren't likely to be turned off by Swift's presence in the neighborhood since celebrities live all over Manhattan; it's part of the city's culture for many New Yorkers to see stars day-to-day.

Black also told BI that Swift's compound is comparable to similar listings in the area. For instance, Black is listing a penthouse in 111 Murray Street, a modern luxury development, for $33.95 million. And just before the New Year, the penthouse of 67 Franklin Street, a luxury building just a few blocks down from Swift's compound, was put under contract for $12 million in a deal by real-estate agent Krista Nickols of SERHANT.

However, Swift's presence in the building garners attention, with paparazzi and fans often lining the streets outside when she is spotted in the city — even those with more sinister intentions. For example, a 33-year-old man was arrested three times in January 2024 for trying to access Swift's compound.

Swift's residency also raised some eyebrows in the New York Sanitation Department. In 2023, The New York Post reported that the sanitation department ticketed Swift 32 times for trash that accumulated in front of the townhouse since she had bought it.

Zuckerberg is one of many billionaires living in Hawaii

Meta cofounder and CEO Mark Zuckerberg has a diverse real estate portfolio, with properties in Palo Alto and Lake Tahoe, California. Still, the roughly $200-million real-estate portfolio is highlighted by his 1,200-plus acre land in Hawaii. He's been buying land on the island of Kauai since 2014.

According to a 2023 Wired report, the compound was built in secrecy and includes a 5,000-square-foot underground shelter. The below-ground dwelling screams doomsday bunker, but Zuckerberg recently tried to quell concerns from locals and said it's a shelter to protect against hurricanes.

"I think that's just like a little shelter," he told Bloomberg. "It's like a basement."

Kauai real-estate broker Michael Ambrose told BI that even though bunkers aren't that common, Zuckerberg isn't the first to buy land in Hawaii.

"I know this lady on the East Coast; she owns like a hundred and something acres out here, and she's literally just sitting on it, and it's worth millions of dollars," he said. "I think the more that the world population grows, the more there's an interest in owning physical areas of the world."

As for Zuckerberg resetting the market, Ambrose said several billionaires, like Oracle cofounder Larry Ellison, are already in Hawaii and may have contributed. Still, his presence can be felt in the market.

"Say you could be neighbors with the richest guy in the world — clearly, the land itself has more value because of the next-door neighbor being who he is," Ambrose said.

Ambrose, for example, highlighted a vacant lot for sale in Kilauea, a community on the northern shore of Kauai that shot up in price after Zuckerberg moved in. As of December 2024, it's listed for $16.5 million. According to Zillow, the 7.87-acre lot went on the market in 2014 for only $3.9 million.

• Home prices across the US kept climbing in 2024, and luxury home prices were no exception.
• The cost of the top 5% of luxury homes rose nearly 9% from 2023 to 2024, Redfin found.
• A $210 million Malibu mansion and $108 million Aspen property were among the priciest sold in 2024.

By some measures, all home prices reached record highs in 2024.

It's not just more affordably priced homes that have gotten more expensive: Luxury real estate has also boomed this year.

The price of luxury homes — defined as those with a market value in the top 5% for their area — rose nearly 9% year-over-year as of the second quarter of 2024, according to the most recent data available from real-estate site Redfin. That jump was twice as fast as the increase for non-luxury homes, Redfin found.

Here's a look at five of the most expensive homes sold across the US this year.

A $210 million Malibu mansion broke California's record for priciest property ever sold

In June, Oakley sunglasses founder James Jannard sold his Malibu mansion for $210 million.

It edged out Beyoncé and Jay-Z's $200 million compound, also in Malibu, to break the record for the most expensive home ever sold in California.

Jannard bought the estate 12 years ago for $75 million, but the new owner's name is shrouded behind an anonymous LLC, the Los Angeles Times reported.

The mansion has eight bedrooms, 14 bathrooms, and a tennis court spread over 9.5 acres and was pared down by previous owners who found the original main home "too grandiose," according to San Francisco outlet SFGate.

Its renovation was handled by Michael S. Smith, who also redesigned the White House's Oval Office for then-President Barack Obama in 2010.

A home on Palm Beach's only private island sold for $152 million

In May, a 28,600-square-foot home on Tarpon Island in Palm Beach, Florida, sold for $152 million, a real-estate agent behind the sale confirmed to Business Insider.

The property — situated on Palm Beach's only private island — includes two private decks, multiple pools, a wine room, a waterfront gym, a tennis court, and a wellness facility complete with a massage room and a nail salon, according to Mansion Global.

The home's buyer was Australian investor Michael Dorrell, who founded infrastructure investment firm Stonepeak Partners and formerly served as a senior managing director at Blackstone, The Wall Street Journal first reported, citing people familiar with the deal.

Another Palm Beach home sold for $148 million to a collector of trophy properties

A nearly 23,000-square-foot house with 225 feet fronting the Atlantic Ocean in Palm Beach sold for $148 million to billionaire investor Daren Metropoulos earlier this year, Mansion Global reported.

Metropoulos — a principal at private-equity firm Metropoulos & Co. and former co-CEO of Pabst Brewing Company — is a collector of trophy properties. He purchased the former Playboy Mansion in Holmby Hills, California, in 2016 for $100 million, according to The New York Times.

The landmarked Mediterranean Revival-style house in Palm Beach, designed by architect Addison Mizner in 1919, is called Casa Amado and sits on 3.2 acres, according to Mansion Global.

A $135 million penthouse was New York City's most expensive sale of the year

Real-estate developer Vlad Doronin's highest-profile project of late is the hotel and condos at Aman New York, located in the landmarked Beaux-Arts-style Crown Building on Fifth Avenue in Manhattan.

Doronin himself purchased a five-story penthouse in the building this year for $135 million, Bloomberg reported.

The penthouse is one of just 22 residences above the hotel, which has more than 80 rooms, according to Bloomberg.

The home, which fetched more than $10,000 per square foot, was sold as an unfinished space that the owner can build out, Bloomberg reported, citing a spokesperson for developer OKO Group.

Doronin, who the Wall Street Journal called a "Russian James Bond" earlier this year, founded OKO Group and serves as Aman's owner, chairman, and CEO.

An Aspen home with 11 bedrooms broke a Colorado record

Former casino tycoon Steve Wynn partnered with billionaire financier Thomas Peterffy to purchase Colorado's most expensive home ever sold, The Wall Street Journal reported.

Looking out over Aspen at the base of Red Mountain, the 22,405-square-foot mansion — which includes 11 bedrooms, 17 bathrooms, an outdoor pool, and a guest house — sold to the pair in April for $108 million, The Denver Post reported.

Aspen's first nine-figure sale elevates it to the ranks of other places that have hit that milestone: New York, Los Angeles, and Palm Beach, according to the Journal.

• Real-estate tech startups aim to make tasks from property management to homebuying more efficient.
• We surveyed 10 venture capitalists to identify the hottest proptech companies of the year.
• Some of the firms are modernizing real estate by digitizing analog processes, sometimes using AI.

The frozen housing market meant tough times for the proptech — or property technology — industry.

As the market starts to thaw, however, things are looking up for firms that seek to use technology to digitize, automate, or otherwise improve legacy processes in the worlds of residential and commercial real estate.

Business Insider asked 10 venture-capital investors who focus on real-estate and construction technology to nominate the most exciting, promising, and talked-about proptech startups in 2024.

The 20 companies on the final list reveal the breadth of the proptech universe.

Take Steadily, a firm trying to digitize insurance underwriting for real-estate investors, a process that has historically taken a lot of paperwork and time — only to result in policies with steep premiums. Another startup, Arcol, aims to make producing 3D architectural drawings faster and easier. A third, Conservation Labs, uses an AI-powered sensor to detect if water is leaking or being wasted in a building to prevent damage and protect the environment.

In the first half of 2024, venture funding for proptech companies dropped 14.3% from the same period a year prior. Funding totaled $4.37 billion, down from $5.1 billion during the same period in 2023 and dramatically less than the $13.13 billion invested in the first six months of 2022, according to the Center for Real Estate Technology & Innovation (CRETI), which surveyed 1,088 proptech startups.

Certain niches, however, hold promise. In 2024, VC investments in AI-powered proptech companies reached a record $3.2 billion, CRETI reported earlier this month.

Here are 20 of the buzziest proptech companies in 2024, presented alphabetically. The companies' fundraising numbers are from PitchBook to ensure a consistent data source.

Did we miss a company you think is disrupting the industry? Send reporter Jordan Pandy an email at [email protected].

Agora

City: New York City and Tel Aviv

Year founded: 2019

Total funding: $64.31 million

What it does: Agora is a financial software firm that helps real-estate investors process payments, keep track of tax records, raise money, and generally organize data.

Why it's hot: The firm, which raised a $34 million Series B round in May, said it helps landlords and developers with much-needed modernization.

"Real estate is the largest asset class in the world. However, the market still relies on legacy software providers, inefficient workflows, outdated, fragmented systems, and manual, tedious work," Asaf Raz, Agora's head of marketing, told Business Insider.

"Investors expect a digital-first experience — they're tech-savvy and need access to information quickly. Firms can't work without it, and clients need a platform like Agora more than ever," Raz said.

A challenge it faces: Real-estate investors are still grappling with relatively high interest rates, which makes it harder to borrow money and scale up, and the relatively high price of materials, which makes it tougher to renovate or upgrade properties. Those market forces could make customers more reluctant to spend money on new software.

Agora CEO Bar Mor told business news site Pulse 2.0 earlier this month, however, that Agora might still appeal to customers because its suite of products could help them "enhance efficiency and save costs."

Arcol

City: New York

Year founded: 2021

Total funding: $5.1 million

What it does: Arcol is a web browser-based design tool predominantly used by architects to create and collaborate on 3D models of buildings and explore their feasibility.

Why it's hot: Architects — Arcol's target audience — have traditionally relied on software design tools like AutoCAD and Revit, which require paid licenses and aren't as collaborative. Arcol has set out to solve that issue with a browser-based format easily shared and edited by anyone involved in a building project.

"These people are core to our society; they're literally building the built world, yet they hate using their tools," said Paul O'Carroll, the son of an architect and founder of Arcol. "The design tool we use to design buildings, we want to rethink for the browser to be collaborative and to be performant."

So far, demand is high. Arcol, run by a team of six, has a waitlist of over 18,000 users, O'Carroll said.

A challenge it faces: There are several other startups in the BIM, or Business Information Modeling, space. Competing with established players like Revit could take a lot of time and money, according to AEC Magazine. (AEC stands for architecture, engineering, and construction.)

Also, Arcol is currently only useful to architects during the conceptual modeling phase, and the company hopes to expand the tool to help with other stages of construction.

Branch Furniture

City: New York City

Year founded: 2018

Total funding: $11.76 million

What it does: Branch Furniture sells office products, like chairs and desks, to businesses and directly to consumers.

Why it's hot: The company's first iteration sold office furniture the old way: B2B, catering to employers outfitting a huge space who would often purchase items in bulk. After the pandemic changed how (and how often) workers occupied offices, Branch pivoted to sell to regular people — wherever they work.

"We launched our D2C business to cater to the future of work, which was definitively hybrid, both during COVID and after — and that's where we sit today," Sib Mahapatra, cofounder of Branch Furniture, told Business Insider.

Branch's ergonomic chair is a bestseller with a 4.6 rating out of five with over 6,000 reviews — it's rated among the best in its category by Business Insider, Architectural Digest, and Wired for its adjustability and sleek design.

In addition to desk chairs — in colors that range from a standard black to salmon-y orange hue called "poppy," the company also sells desks and lamps to outfit a home office. Its inventory includes meeting tables and even phone booths ($6,395) for more commercial office spaces.

A challenge it faces: Branch's products are physical, so it's been plagued by supply-chain delays. Branch is also up against competitors in the good-looking-furniture-that-is-also-comfortable arena, including Herman Miller and Steelcase — though Branch's offerings are often cheaper.

The company is also gaining ground regarding velocity, or the speed at which new products are developed and released.

"We're learning a lot about the pace of iteration in our product category," Mahapatra said. "It's definitely not software, but the benefit is that you get more time to really get things right and to iterate with purpose, and you end up being a little bit more deliberate about how you iterate the product — it just takes longer."

BuildCasa

City: Oakland, California

Year founded: 2022

Total funding: $6.67 million

What it does: BuildCasa helps California homeowners subdivide their lots — thanks to new state laws — and then connects them with local builders who pay the homeowners for a portion of their land and then build new housing on it.

Why it's hot: The national housing crisis is particularly acute in California, which recently passed a series of laws to encourage more building. While others look to transform construction to make cheaper housing, BuildCasa uses technology instead to find more buildable lots in desirable locations like San Francisco and San Jose.

Most massive home-building companies focus on large, master-planned communities, often far from city centers. BuildCasa's vision, said its founders Ben Bear, CEO, and Paul Stiedl, CPO, is to become a large homebuilder focused instead on finding land in already desirable cities and suburbs.

The company works with homeowners to subdivide their land, creating a new, buildable lot. Those lots can then be sold to a local real-estate developer to build on, or BuildCasa can work in partnership with a local builder to erect and then sell a completed home.

A challenge it faces: New laws have simplified the process of subdividing lots, but building in infill areas still requires technical expertise and good relationships with local officials. Building on these smaller lots may be becoming easier, but it still isn't easy.

Conservation Labs

City: Pittsburgh, Pennsylvania

Year founded: 2018

Total funding: $14.68 million

What it does: Conservation Labs developed a smart water sensor that can identify leaks and wasteful water use. The H2know sensor uses machine learning to decode sounds in water pipes and translate them into insights for commercial property owners, including restaurants and hotels.

Why it's hot: The startup is at the intersection of two buzzy topics: AI and sustainability. H2know trains on thousands of hours of water pipe acoustics so that, over time, it becomes more accurate in detecting leaks and inefficient water use in buildings. Customers use that information to fix problems and conserve water, saving them money on utility bills while lowering their overall carbon footprint. Some 20% of home energy use goes to heating water.

"There's a very strong relationship between net-zero carbon emissions and water consumption," said Mark Kovscek, founder and CEO of Conservation Labs.

He added that H2know has detected leaky toilets in nearly every building in which it's installed. Some large properties are wasting 1 million gallons of water a year, he said.

A challenge it faces: H2know starts at $129, and it could be hard to convince cash-strapped commercial real estate owners to spend money to install sensors when the office market is struggling in many parts of the US.

Kovscek said the goal is to scale up to 100,000 sensors installed as soon as possible, or five times what Conservation Labs is currently on track to sell this year. To support that growth, the company needs to hire some of the "best and brightest" data scientists and engineers to further develop the machine-learning platform that underpins H2know, Kovscek said.

Constrafor

City: New York

Year founded: 2019

Total funding: Almost $380 million

What it does: Large general contractors use Constrafor's software to onboard and pay their subcontractors on time — sometimes before the contractors themselves get paid by the clients. Contractors can also use the software to help purchase the supplies and services needed to complete a construction project on time and within budget.

Why it's hot: There's the money raised. In November, Constrafor announced that it raised $14 million in Series A funding as well as a $250 million credit facility.

The issues the firm is trying to address are also key. Construction is booming across the US, thanks in part to President Joe Biden's $1.2 trillion infrastructure bill. The rise of AI is also leading to a corresponding increase in the construction of data centers.

The actual process of construction, however, can often be long and complicated. That's why Constrafor's role as a one-stop shop appeals to large general contractors.

"So far, everyone has been focused on just building a very, very small point solution," said Anwar Ghauche, Constrafor's founder. "We're combining multiple different workflows, multiple different departments, all on the same platform."

The main challenges it faces: Next up: Constrafor must try to convince subcontractors to subscribe and pay for its software, too.

Gauch added that Constrafor's contractor clients can face cash-flow crunches. Those can lead to delays on important projects.

After Hurricanes Helene and Milton severely damaged parts of Florida, North Carolina, and other parts of the Southeast, Constrafor launched a disaster relief effort that would allow local contractors who are part of rebuilding efforts "to overcome delays, purchase materials, and ensure timely payment for their teams."

Ease Capital

City: New York

Year founded: 2022

Total funding: $13.95 million

What it does: Ease Capital helps private equity firms and large investors lend to smaller apartment landlords. It uses data and technology that allow the biggest players to lend $5 million to $50 million in deals that would typically be too small for them.

Why it's hot: Sophisticated private lenders usually focus on the largest apartment complexes, meaning that most apartment-building owners have to turn to banks and agencies to borrow money to purchase or refinance properties. However, current high rates have dramatically slowed bank and agency lending and the large private lenders usually won't lend for small—and medium-sized projects.

Ease uses data and technology to make it easier and more efficient for these large lenders to lend on smaller deals when the need is the highest. In 2023, the company announced a $450 million partnership with major real estate owner and asset manager Taconic Capital Partners, and has already announced multiple successfully originated loans.

CEO Charlie Oshamn told Business Insider earlier this year that the company is often seeing up to $1 billion in loan requests a month. Unlike other firms, which provide an estimated rate upfront that could potentially change over months of negotiation, Ease Capital sticks to its initial offering, eliminating the guessing game for potential clients.

A challenge it faces: Though the founding team has successfully launched other major proptech businesses, like flexible office and event space provider Convene and real-estate data firm Reonomy, it still needs to prove itself as a lender.

Habi

City: Colombia and Mexico

Year founded: 2019

Total funding: $564 million

What it does: Habi has built Latin America's largest proprietary database and utilizes AI-based pricing algorithms to facilitate transactions and financing for homebuyers and sellers. Habi also buys and sells homes, offers mortgages, and posts and publicizes listings of properties for sale.

Why it's hot: The company operates in Colombia and Mexico without centralized MLS. MLS, or multiple listing services, are databases designed to help real estate brokers identify available homes for sale. These systems are abundant in the US, whereas they are scarce in Latin America. Without an MLS, it means homebuyers and sellers in Colombia and Mexico have difficulty knowing which properties are available for sale, their prices, and their listing and pricing history.

By gathering and sharing information on more than 20 million homes, Habi has addressed a critical need in these countries' real estate sector, establishing itself as an authority on housing in the region.

"We've become a household name for low and middle-income sellers and consumers and brokers in Mexico and Colombia," Brynne McNulty Rojas, CEO and cofounder of Habi, told Business Insider.

A challenge it faces: A combination of factors, including shifting economic and political conditions, has stalled the growth of Latin America's real-estate market. To achieve the same level of ubiquity as Zillow in the US, Habi must get real-estate brokers and sellers to list their properties on its platform and entice buyers to use it.

HoneyHomes

City: Lafayette, California

Year founded: 2021

Total funding: $21.35 million

What it does: Founder Vishwas Prabhakara envisions Honey Homes as a "primary care physician for your home." For a monthly fee, a dedicated handyman will come once or twice a month to knock off "lightweight" home improvement projects like fixing a leaky faucet, installing a new ceiling fan, or repainting a room.

Why it's hot: With a cooling housing market, Prabhakara believes many homeowners are staying in their homes longer and interested in investing resources in — and enjoying — the property they currently have.

The main challenge it faces: Homeowners who already hire their preferred handymen may not be willing to pay for a service that sends new people, and bigger projects might require more specialized repair professionals. Then there's the cost and current smaller scale of the company: Subscriptions start from $295 a month, or $3,940 a year, according to the company website. The service is only available in parts of San Francisco and the Bay Area, Los Angeles, Orange County, and Dallas, according to the site.

Impulse Labs

City: San Francisco

Year founded: 2021

Total funding: $25 million

What it does: Impulse Labs made a battery-powered induction cooktop that, unlike most of its competitors, which may require an electrical upgrade, can plug into a standard 120-volt outlet. The cooktop can boil water at lightning speeds, and sensors hold heat levels steady even at high temperatures.

Why it's hot: Impulse Labs founder Sam D'Amico said the cooktop offers a better cooking experience than gas burners while promoting more climate-friendly homes. Cooking with gas emits pollutants like methane, benzene, and carbon monoxide, which harm our health and the planet. But it can cost thousands of dollars to rewire a home for an electric induction stove. Impulse Labs' induction cooktop avoids those pollutants and the cost of home retrofits.

The battery in Impulse Labs' stove also stores enough power to make three meals if the power goes out, D'Amico said.

"One of the cheapest ways to deploy battery storage is in the appliances we have to buy anyways," he added.

The main challenge it faces: The cooktop costs $5,999. The price is high, D'Amico said, but similar to other premium appliances. The price is lower if buyers qualify for tax breaks and rebates from federal and state governments, as well as some utilities. It's also only a cooktop — not a full stove — but D'Amico said the company eventually wants to sell a suite of appliances that can be a whole-home battery solution. Impulse Labs is accepting pre-orders, with plans to ship in the first quarter of 2025, according to its website.

Keyway

City: New York City

Year founded: 2020

Total funding: $43 million

What it does: Keyway uses machine learning and AI to aid institutional investors in sourcing, underwriting, and managing portfolios of properties.

Why it's hot: Companies that use AI have become commonplace today, but Keyway believes it is ahead of the pack in adopting and applying AI technology to real-estate investing.

"We were very early on in the AI game in 2020, and I think we've built a really strong backend of data with lots of APIs that allows us to integrate very segregated data very fast," CEO and cofounder Matias Recchia told Business Insider. "The fact that we built our system in a modular way also allows us to customize our product to a lot of our customers — so it's really not one solution fits all."

The main challenge it faces: New technology like Keyway can be hard to push on seasoned real-estate investors as they're used to using old-school methods like manually sourcing, underwriting, and managing portfolios.

"We're merging two cultures that are very different," Recchia said. "The real-estate industry requires a lot of proof to show them that data can really help them make better decisions. So there's a little bit of a culture shift that we're bringing to real estate as we sell them these tools and we partner with them."

Latii

City: Brooklyn, New York

Year founded: 2023

Total funding: $8.82 million

What it does: Latii is a sourcing platform that uses AI-powered tools to help North American-based architects and contractors save up to 60% by connecting with Latin American, southern European, and northern African window and door fabricators.

Why it's hot: Architects often include custom windows and doors in their designs, but hiring contractors and craftspeople overseas can cost their property-owning clients thousands of dollars. The architects who work with Latii, however, can source materials faster and at lower costs, cofounder and CEO Santiago Bueno told Business Insider.

"We're able to produce either equal or higher quality products at a less expensive rate," Bueno said.

In October, Latti announced that it had raised $5 million in seed-round funding, which it will use to expand in the Pacific Northwest, Mountain states, and the New York tri-state area.

The main challenge it faces: When working with fabricators in Latin America, challenges can arise in managing certifications, enforcing warranties, and overcoming language barriers. The region's use of the metric system can also be difficult for North America-based architects to navigate.

Lessen

City: Scottsdale, Arizona

Year founded: 2020

Total funding: $713.8 million

What it does: Lessen's software allows commercial and residential landlords to track maintenance needs, connect with service providers, and buy products.

Why it's hot: In August, Inc. magazine named Lessen the fastest-growing private software company in the US, citing its $1.1 billion valuation.

The valuation preceded a major acquisition in 2023: Lessen spent $950 million to buy property maintenance management firm SMS Assist in what the Commercial Observer called the largest proptech acquisition in history.

Lessen's software is widely used, handling 3 million work orders a year across 250,000 properties, according to Fifth Wall, an investor in the firm. Lessen also launched Lessen Advantage Marketplace, which allows its landlord customers to buy materials like glass, floors, and doors and find better insurance and loan rates.

The main challenge it faces: Like many real-estate firms, Lessen faces an overall slowdown in both the commercial and residential sectors, with mortgage rates remaining elevated. One big potential client base for Lessen is office building owners and property managers, but the office market right now is struggling, with vacancies around the US at record highs.

"We typically grow hand-in-hand with our clients, serving them in additional properties and markets as they expand. So, for example, interest rates can influence growth in some areas of our business," said Michael Tanner, senior vice president of marketing at Lessen.

A dearth of tradespeople is also a challenge for the company's platform that connects them to landlords, Tanner said.

Finally, the firm competes in a crowded market of competitors offering software for landlords, including Stessa, AppFolio, TenantCloud, and more.

Metropolis

City: Santa Monica

Year founded: 2017

Total funding raised by the company: $1.93 billion

What it does: Metropolis uses a computer vision platform powered by artificial intelligence to enable checkout-free payment at parking facilities. After registering their vehicles on the Metropolis app, customers can simply drive in and drive out without the hassle of paying with credit cards or ticket machines.

Why it's hot: Metropolis announced its acquisition of SP Plus, the largest parking network in North America, for $1.5 billion in October 2023 and closed the deal in May 2024. The move allowed Metropolis to rapidly scale its technology and reach 50 million customers across 4,000 locations.

"We've seen success and are continuing to scale and grow because Metropolis' checkout-free experiences give people the gift of time back, so they can spend it on the things that matter the most," cofounder and CEO Alex Israel told Business Insider.

The main challenge it faces: Israel said that most of the parking payments and transactions in the world are still analog.

"We envision a future where checkout-free payments travel with you, but scaling this technology across industries is complicated — it requires remarkable proprietary technology and boots on the ground," he said.

PredictAP

City: Boston

Year founded: 2020

Total funding: $13.17 million

What it does: PredictAP makes real estate invoice processing simple and easy. It uses AI to code invoices quickly.

"So the accounting rules can become very complicated in commercial real estate at big companies," said CEO and founder David Stifter, describing the journey of how an invoice is processed.

He said an invoice would come in first, and someone would need to determine which accounting rules to apply. Predict AP will be useful at this stage because the AI will understand and use the accounting rules correctly. Then, it will go through the rest of the accounts payable process, a department responsible for paying vendors for services or goods at the company. Then, someone will approve it and then pay for it.

Why it's hot: Predict AP serves every corner of the real estate sector. The company said its customers are publicly traded companies that own real estate, private companies that own and operate real estate, or customers who provide services for those big companies.

The company has been able to help AP specialists and property managers face difficulties entering invoices because it takes a lot of time and effort.

"We're able to help folks with that difficult task of coding invoices and it's particularly painful in real estate where there's a lot of complexity," said CEO and founder David Stifter. He added: "Nobody wants to be typing 15-digit invoice numbers; that's not fun."

Russell Franks, the president and cofounder of Predict AP, added to his comments and noted that Predict AP could process an invoice in 30 to 40 seconds faster than the normal processing time of five to 10 minutes.

The main challenge it faces: The company shared that it is hard to find funding in this tough economy, and it is not easy to grow and expand.

Propexo

City: Boston

Year Founded: 2022

Total funding: $7.97 million

What it does: Propexo's unified API, or application programming interface, helps other real-estate tech companies quickly and easily integrate with property-management systems.

Why it's hot: Real-estate tech companies use APIs to integrate with data from external sources, like lead generation systems or rent roll systems.

However, existing APIs and the technology around them are outdated.

That means companies lose time and money that could be used to develop their product while trying to integrate with these APIs, said COO Ben Keller.

Propexo's unified API improves the developer experience by making the integration process simpler, faster, and cheaper. "We're really the first engineering infrastructure product in the proptech ecosystem," said Keller.

The main challenge it faces: It's not easy to convince property managers and owner-operators to change how they've been running their businesses for many years.

In August, the Department of Justice filed an antitrust lawsuit against RealPage, alleging that the property-management software company allows landlords to coordinate and unfairly keep rents high. This is causing some landlords to rethink how they handle and process information, according to trade publication Multifamily Dive.

Rent Butter

City: Chicago

Year founded: 2020

Total funding: $4 million

What it does: Rent Butter has created an alternative tenant screening process that gives landlords a more comprehensive view of applicants' financial history.

Why it's hot: Landlords have historically relied on static credit reports and background checks when evaluating potential tenants. Doing so creates a barrier for applicants with financial difficulties early in their adult lives, as credit scores are a difficult metric to improve.

Rent Butter is trying to eliminate that barrier and change the narrative around who is a "good" candidate by providing landlords with additional information that can more accurately assess a person's financial reliability.

Their application connects to an applicant's bank account, credit history, and employment, criminal, and rent payment history to provide a detailed one-page report highlighting their financial behaviors and potential risks.

"Our whole approach is: How do we show who the person is today — not who they were seven or 10 years ago," cofounder and CTO Christopher Rankin told Business Insider.

The main challenge it faces: Rent Butter partners with landlords, rather than selling directly to consumers, which makes scaling a challenge. Most landlords already have a tenant-vetting process, so it could be hard to convince them to change to Rent Butter.

Shepherd

City: San Francisco

Year founded: 2021

Total funding: $22.27 million

What it does: Shepherd is a Managing General Underwriter (MGU) leveraging tech to make underwriting commercial construction insurance more efficient. It also wields data to create more informed risk selection and price recommendations, often leading to upfront and long-term savings for policyholders.

Why it's hot: Insurers partner with MGUs to provide clients with insurance, with the MGU underwriting policies for clients and selling to potential policyholders. Shepherd adapts the typical MGU model by cutting the underwriting process from weeks to hours and incorporating risk assessment tech into its platform, making it a one-stop shop for insurers and clients. By working faster and putting these services in one place, Shepherd can better serve construction companies and insurers while fostering more involved relationships.

The main challenges it faces: Both insurance brokers and potential clients have some healthy skepticism about a new model for commercial construction insurance, so it falls on Shepherd to earn their trust to gain their business.

Steadily

City: Austin

Year founded: 2020

Total funding: $60.1 million

What it does: Steadily is a digital insurance company for real-estate investors that promises a "faster, better, and cheaper" underwriting experience.

Why it's hot: Steadily founder Darren Nix first encountered the outdated nature of insurance underwriting, trying to find quotes for his own rental property in Chicago.

Terrible customer service and shockingly high quotes stopped him in his tracks.

"It was like rolling back the clock to the mid-1990s," he told Business Insider. Focusing on selling insurance to real-estate investors has helped Steadily grow to about 140 employees across Austin and Kansas City, Missouri.

In November, Steadily announced it had started to actively write new business on its own insurance carrier. "Nothing says 'we believe in the product we've built' more strongly than underwriting risk as the carrier," Nix said in a statement.

The main challenge it faces: Steadily has started selling insurance to short-term-rental investors, which presents different challenges than underwriting more traditional, longer-term rentals.

The market represents significant growth — accounting for nearly 20% of Steadily's current business — but the pricing is tricker.

"The people coming in and out of those properties don't take care of them at the same level of responsibility," Nix explained. "One of the things that a host can do to demonstrate that they are a good insurance risk is to point to their Airbnb or VRBO history and show that they're a super host, they take great care of their property, they don't host ragers."

Tour24

City: Medfield, Massachusetts

Year founded: 2020

Total funding: $20.35 million

What it does: Tour24 is an app that lets prospective tenants take self-guided apartment tours without a leasing agent present.

Why it's hot: In many cities, renting an apartment can be cutthroat, with open-house lines and bidding wars to nab a good unit at a reasonable price.

More than ever, people are deciding on places to live quickly — sometimes even committing before they've even seen the unit because they aren't able to schedule a walkthrough that jives with their working hours.

Tour24 allows users — who are ID- and credit card-verified — to tour apartments when leasing agents aren't available, such as on evenings and weekends.

"We are seeing that certainly millennials really prefer self-guided experience," Georgianna W. Oliver, the founder of Tour24, told Business Insider.

Oliver said many of their leasing-agency clients offer Tour24's self-guided tours as well as leasing agent-led tours and virtual tours — and have given feedback that the more options they give potential renters, the better.

"People have the options," she said. "And they really like having the options."

The main challenge it faces: Since the worst part of the COVID-19 pandemic, many individual leasing agencies have been offering some version of a self-guided tour on their own with their own video Tour24 also competes with other self-guided rental-tour apps like Rently and CareTaker.

Tour24 seems to be holding its own: The startup announced in October that it raised $5 million in a Series B round, noting that it had doubled in size in 2024 to reach 525,000 units across over 2,060 multifamily properties.

• A plot next to Jeff Bezos' Miami properties is on sale for $200 million.
• The land is on Indian Creek, a private island that's home to several billionaires.
• The sellers remain unknown, but their broker said they are open to negotiating the price.

A plot of land next to Jeff Bezos' properties in South Florida is on sale for $200 million.

The 1.84-acre property is on Indian Creek, a private, artificial island in Miami-Dade County that's known as the "Billionaire Bunker." The island is home to properties owned by Jared Kushner and Ivanka Trump, Tom Brady, Carl Icahn, and a more recent arrival — Jeff Bezos.

The asking price — $200 million for the land — is more than what Bezos paid for any of his three properties on the island. In 2023, the Amazon founder purchased a $68 million mansion and an adjacent property for $79 million. In September, he made a third purchase for $90 million. Last year, Bezos said he would be moving to Miami after living in Seattle for 29 years. The listing was first reported by the New York Post.

Ilya Reznik is representing the owners, who did not want to be identified. The owners bought the land for $27.5 million in 2018, the listing states. Predesigns for a 25,000-square-foot estate on the property that would be available to the buyer, according to the listing.

Reznik told Business Insider that asking price comes down to the lot being "a very unique location." However, Bezos' purchases had an effect on the prices in the area.

Bezos "did pay the numbers, which are really high," Reznik said. "But now those prices are there and the market is there and higher."

"It's not just Indian Creek, but everywhere in Miami and on the islands," Reznik said. "And if it's new, if it's a new build house, buyers are willing to pay premium. This is just what's going on in Miami."

The listing states that the land also comes with 200 feet of Biscayne Bay waterfront, which The New York Post reported would allow the owner to build a deep-water dock for a 180-foot megayacht.

Indian Creek is about 15 miles from Miami. The highly secure island is accessible only by a single bridge connecting it to the mainland. It has about 40 homes over 300 acres and an ultra-exclusive country club. The island's police department monitors the area's only entrance and patrols the perimeter around the clock.

• The NYC townhouse where Bob Dylan lived quietly with his kids from the 1980s to 2005 is for sale.
• The enclave, with only 20 homes and a shared garden, remains a favorite haunt of actors and musicians.
• It's just a coincidence that the movie about his life is in theaters now, the listing agent said.

A New York City home where Bob Dylan lived quietly for years is for sale.

The legendary singer-songwriter rented the townhouse on East 49th Street in Manhattan in the 1980s — then loved it so much that he bought it under a business associate's name in 1990 for an undisclosed amount.

In 2005, he sold it to the current owners for $4.45 million; they have put it on the market with an asking price of $7.25 million.

The five-story home is in Turtle Bay Gardens, a landmarked enclave of 20 1860s-built townhouses on East 49th and East 48th whose backyards lead to a shared garden for residents only.

Dylan, one of the best-selling music artists of all time, had young kids at the time and liked the privacy, "Dylan's local fix-it man at the time" told real-estate news site Curbed.

Turtle Bay Gardens has long attracted creative types, including Hollywood and Broadway greats. Previous renters of Dylan's home, at 242 East 49th Street, included Mary Tyler Moore.

Broadway composer Stephen Sondheim called No. 244 home for 60 years until his death in 2021; it sold for $7 million in 2023, according to property records. Katharine Hepburn lived next door, at 244 East 49th Street. Child actor turned fashion designer Mary-Kate Olsen and her ex Olivier Sarkozy owned 226-228 East 49th Street from 2024 to 2022.

The current owners of Dylan's home used it as a pied-à-terre, according to Sotheby's International Realty agent Lisa Larson, who has the listing with her colleague Angela Wu.

"They just weren't coming to New York very often, so they rented it out, and now they've just decided to sell it," Larson told Business Insider.

It hit the market on December 5. The Bob Dylan biopic, "A Complete Unknown," with Timothy Chalamet as Dylan, is released in theaters on Christmas Day, December 25.

Larson said that the timing is a happy accident.

"I didn't even know there was a new Bob Dylan movie," Larson said. "It was totally coincidental, because we were just waiting for the last tenant to move out."

Take a look inside Dylan's former house, which has a mix of old-school features and modern amenities, and the secret garden on which it sits.

A house Bob Dylan lived in from the 1980s to 2005 is on the market for $7.25 million.

Starting in the 1980s, Dylan rented the home from a married couple: screenwriter Garson Kanin and his wife, actor Ruth Gordon.

He started out renting, then liked it so much he bought it.

The home is located in a somewhat hidden micro-neighborhood called Turtle Bay Gardens.

"It's got a pretty esteemed history," Larson said. "It has a lot of playwrights, writers, actors, and musicians who have lived in this enclave of 20 homes."

Owners of the 20 townhouses on East 49th and East 48th Streets can access a residents-only shared garden via their private backyards.

Turtle Bay Gardens was named a historic district by New York City's Landmarks Preservation Commission in 1966. It was built with a fountain modeled after the Villa Medici in Rome.

"It's got this unique feeling of being this special little enclave in the middle of a whole bunch of hustle and bustle and high rises," Larson said.

The current owners bought the home from Dylan for $4.45 million in 2005 and then renovated it.

"They did a more modern kitchen, they redid all the bathrooms — they did a lot of capital improvements," Larson said. "It's got all the conveniences of a modern house, but yet it still retains a lot of its old-world characteristics."

According to Larson, Dylan had installed a lot of mirrors around the townhouse that didn't survive the renovation.

The current owners used the home as a pied-à-terre and visited New York City less than five times a year.

The owners had rented out the townhouse for the last year, Larson said.

The ground floor features a patio and garden that lead to the shared garden.

The parlor level also has a terrace that leads to the lower level.

"It's not super unique to have necessarily a small terrace or a balcony on the parlor floor, but for you to be able to walk out onto it and then walk downstairs to access the garden below is pretty unique and pretty special," Larson said.

A unique feature of the home Dylan owned is the brick staircase from the private patio that leads to the shared garden.

"In my opinion, the backyard is one of the prettiest in all of Turtle Bay Gardens because it has that bi-level aspect to it, and just beautiful brickwork and stonework," Larson said.

The five-bedroom, 5½-bathroom home has around 5,400 square feet of interior space.

The library has a fireplace — one of seven in the home.

The archways throughout the five-story home are original. The elevator, though, was added on after Dylan sold.

Larson said the home is 19 feet wide.

"Some 19-footers have elevators and some don't," she added. "Having an elevator is huge."

• Dual citizen Michael Stiege was raised in Canada but spent many years working in the US.
• The darkness and cold climate of Canada pushed him to sunny California.
• For Americans thinking they can simply move up north, it's not that easy, he said.

This as-told-to essay is based on a conversation with Michael Stiege, 75, a dual citizen of the US and Canada. Stiege was raised in Canada and spent roughly 30 years working in California before moving back to Canada 15 years ago. He soon plans to split his time between the US and Canada. The conversation was edited for length and clarity.

Because I'm a dual citizen of America and Canada, traveling between the two countries is virtually a non-issue.

If you're an American coming to Canada, you can travel visa-free. Still, if you're planning to move here and be able to work here, that's another story.

You can visit for six months as long as you leave before the end of the six-month period. You can do that back and forth all the time — but you won't get access to the social system and healthcare.

My friends, who used to live in Chicago, moved to California and said, "We're going to move up to Canada when we retire," but they couldn't get a visa.

This fellow's a Ph.D. and a really smart technical guy — and his wife is pretty bright, too. They couldn't get a visa because they were simply too old. Once you're — let's say 50 — the immigration system disadvantages you. They have a merit-based point system and start worrying about things like age. That's the thinking. Once you reach a certain age, or if you don't have certain other legs up, the criteria by which you can get a working visa is stacked against you.

[In Canada's Comprehensive Ranking System (CRS) — which rates potential immigrants based on age, language fluency, education, professional expertise, and if you have a Canadian partner — applicants 45 years old or older receive 0 points.]

Whereas if you're a young guy just out of college, you have some reasonable skills, and you even know a few words of French, you probably wouldn't have a problem.

There are ways around it, but if the expectation is, "I'm just going to go up there and apply for a visa and get a visa," it may not happen like that.

I needed a change from the cold and long nights in Canada

I was born in Stuttgart, Germany. When my parents and I moved to Canada, I was about 3 and written into my parents' passports.

They got their visas and eventually became naturalized Canadians, which was bestowed on me. So, for all practical purposes, I'm a Canadian.

I grew up in Toronto, went to school in Toronto, and it wasn't until the early side of my career that I moved out into western Canada to Calgary and British Columbia.

I have an engineering degree and an MBA — which, at that time, was a pretty good combination to earn a job and make a living. I looked at the available jobs in the market and thought, "Go to Silicon Valley, where your skills will be valued the most."

I applied to a couple of things and got a call one day. It said, "Are you interested in coming down?" I said yeah, and there I was.

I needed warmer weather, and I was able to get rid of Canada's long winter nights. The summers in Canada were great — you could golf at 11 p.m. — but the winters were awful.

Seasonal affective disorder really got to me. It's not so much the cold as the long winter nights. It's dark. My wife says I had started hibernating, so I wanted to leave that behind.

I rented in the US and bought a home in Canada

When I moved to the US, I found that if I pushed myself, I could've bought a house, but I kept holding off. I found it easy to rent — it was affordable. I could get by without any problem. What I didn't put into a mortgage, I put into stocks and stuff like that.

I lived there for almost 30 years in two or three residences. I paid about $3,200 monthly in Los Altos Hills, California, right by Stanford University.

I came close to buying a couple of times, but the property tax burden in California is significantly higher than what you would find in Canada.

If you buy a house in California for $3 million, you're looking at $40,000 yearly in property taxes. [Zillow estimates a $3 million home in Santa Clara County would cost $36,300 annually in property taxes.] I could go on a trip for six months on that.

If I did the same thing in Toronto, I might spend between $6,000 and $8,000 — and that's a big difference. [According to the city of Toronto, a $3 million home costs $21,459 in city, education, and building fund taxes.]

I moved back to Canada about 15 years ago. My father was 96 then, and I said, "Let's go back." My wife is Canadian, and we have family up here. We settled in and bought our house.

We have a summer home up north in the lake country. It's not bad, but it gets cold in the winter.

If I ever move back to the US, my preference is California.

• Michael Jordan has sold his mansion in the Chicago suburbs after 12 years on and off the market.
• Jordan, who hasn't lived there in years, listed it for $29 million in 2012. It sold for $9.5 million.
• The massive home has custom nods to Jordan throughout, which might be why it took so long to sell.

Michael Jordan's mansion in the suburbs of Chicago, which has sat abandoned for years, has a new owner.

The legendary basketball star has officially sold the nine-bedroom home, which has been on the market on and off since 2012, for $9.5 million, according to property records.

Fourteen years ago, the former Chicago Bulls shooting guard listed the Highland Park, Illinois, mansion for $29 million. In 2015, he reduced the price to $14.855 million — whose digits add up to 23, the number on his Bulls jersey.

The mansion's sale price is a 67% discount from its original asking price.

Listing agent Katherine Malkin, of Compass, told The Wall Street Journal that after buying the property in 1991, he spent about $50 million building the home.

The house is full of nods to Jordan's basketball career, including the 23 on the front gate. His famous Air Jordan logo adorns the full-size indoor basketball court, and flag sticks on the putting green.

Even after various gimmicks, like offering a complete set of Air Jordans with purchase and marketing the home via videos in Mandarin to Jordan's fans in China, the house sat abandoned.

Jordan splits his time between his home state of North Carolina and Jupiter, Florida.

Below, we take a closer look at a house once considered basically unsellable. Most images are from footage taken by Concierge Auctions, which held an unsuccessful auction for the house in 2013.

The 56,000-square-foot compound sits on 7 acres.

The front gate is emblazoned with 23, for Jordan's number.

Jordan himself lived in the main house for 19 years.

One outdoor amenity is an infinity pool with a grass island in the middle.

The putting green outside the house comes complete with Jordan-branded flag sticks.

An indoor-outdoor entertainment space perfect for watching basketball.

Inside are multiple sitting areas and entertainment rooms. This one is the "great room."

This sitting room has a piano.

The centerpiece of the home is a full-size basketball court with a center ring that bears the name of his three children: Marcus, Jeffrey and Jasmine.

The home also features a locker room, trophy room, and a full gym.

Jordan's Chicago Bulls teammates used to work out there every morning, according to an interview shared by Concierge Auctions.

There is also a cigar room with card tables, where we're guessing Jordan has played some high-stakes poker games.

There's also an expansive wine cellar.

Some other fun details: The set of doors seen below are from the original Playboy Mansion in Chicago.

There is a large aquarium built into the wall in one of the dining areas just off the kitchen.

The library upstairs, which features a drop-down movie screen, was said to be Jordan's favorite room.

There are media rooms throughout the house. Even seemingly random nooks have TVs.

Even though it is widely considered abandoned, the house was at least at points occupied by staff Jordan hired to keep it looking fresh.

Jordan has other homes. In 2013, he spent $2.8 million on a North Carolina lake house located in a golf-course community.

The house is in Cornelius, about a 30-minute drive from the Charlotte Hornets' arena. Jordan bought the team for $275 million in 2010 and sold it for $3 billion in 2023.

Jordan also reportedly bought a house on a golf course in Jupiter, Florida, for $4.8 million in 2013 and spent $7.6 million on renovations. The Wall Street Journal reported in April that Jordan bought another mansion in Jupiter for $16.5 million.

He also owns a full-floor condo in downtown Charlotte, in the same building as NFL quarterback Cam Newton. Condos there reportedly went for between $1.5 and $3.5 million.

In 2019, Jordan listed his 10,000-square-foot home in Park City, Utah, for $7.5 million. Agents think it will likely sell faster than the Chicago compound.

Cork Gaines, Rachel Askinasi, and Tony Manfred contributed to this post. It was last updated on December 13, 2024.

• A settlement earlier this year was expected to change the way Americans buy and sell homes.
• Some predicted more people would forego hiring traditional real-estate agents for their deals.
• Four people who sold or bought homes this year without a traditional broker shared how they did it.

A 2023 court ruling against the country's biggest association of real-estate agents was expected to transform how Americans buy and sell homes.

A jury found that the National Association of Realtors, or NAR, had colluded with large real-estate brokerages to keep its members' commissions high. A settlement earlier this year imposed new rules and requirements to prevent agents from unfairly siphoning more money from home sellers.

Real estate professionals have debated endlessly how the NAR settlement could affect the housing market. One prediction is that people might forego using an agent altogether; another is that homebuyers and sellers will bargain hard to pay brokers they do hire less in commissions.

The majority of Americans hire a traditional real-estate broker to facilitate their transactions. According to data from NAR itself, 86% of homebuyers in 2024 used an agent's services. A study by real-estate media company RISmedia found early indications of commissions falling, while Redfin found that commissions have remained almost unchanged since the new rules took effect in August.

Even if it's too early to see the full impact of the settlement, some insights can be gained from people who bought or sold homes without using traditional agents.

Four people told Business Insider that the NAR ruling didn't influence their decision not to hire a typical broker; rather, saving time and making the process more convenient were top priorities.

The sellers acknowledged that going to the open market represented by a classic sellers' agent could have fetched higher prices but added that they might need to pay the agent more or wait longer to close their deals.

"If I had time and I was really wanting to prioritize maximizing my profit, then I probably would utilize an agent to sell just because of the ability to get multiple offers and drive up that competition," said Chelsea Hutchison, who sold her home to a publicly traded real-estate tech company in April.

There are also other costs to transact on a home, including attorney fees.

Read on to hear from the four people who bought or sold homes this year via big companies or real-estate startups instead of a traditional agent. They break down what they paid in commission or fees, and what they felt the benefits were.

2 people sold their houses to a company that charges a lower commission

In April, Hutchison sold her house in Canby, Oregon, to property technology company Opendoor.

The publicly traded firm worth $1.5 billion that pays cash for homes and can close a deal in days, charging a 5% fee to the seller. That's a little less than the 5% to 6% sellers have paid traditional agents in the past, who then share the commission with the buyer's agent.

Hutchison said she did consider using a traditional agent and spoke with one who estimated she could sell her 2,000-square-foot, four-bedroom home for about $565,000.

She ultimately went with Opendoor, which offered her less money — $535,000 — for her home but more speed and convenience.

She was going through a divorce and relocating to a different state at the time, so flexibility was her top priority.

"It was very fast, but it could have been slower if I needed it," she said. "There was flexibility for choosing the closing date, which was really helpful to me."

She ended up paying $26,750 in service fees to Opendoor, rather than the $32,100 a typical seller's broker would have asked for to split with the buyer's broker.

Another seller, Melissa Gonzales-Szott, thought Opendoor offered a fair price for her 2,200-square-foot Las Vegas house: $448,500.

Gonzales-Szott, a 46-year-old who works in marketing, said she did her own research on the market value of her home and thought the amount was in line with what she had seen in her neighborhood.

Selling to Opendoor took 60 days, she added, compared to the six months it took the last time she sold a home.

"There were just so many factors that contributed to this being a more convenient type of process to go through," she told BI. "If there were going to be any type of losses financially for us, we were prepared — because who could put a price tag on convenience and on peace?"

Opendoor operates in more than 50 markets in 26 states.

A home seller had agents bid for his listing and picked one willing to take a lower commission

In June, real-estate agent and "Million Dollar Listing LA" star Josh Altman cofounded Redy, a marketplace where prospective home sellers post their properties and agents compete with each other for the opportunity to sell them.

Agents even give sellers a "cash bonus" after they are chosen by the seller.

According to Kenneth Bloom, who's already sold two properties with Redy, the savings are significant compared to using a traditional real-estate agent.

Bloom, 69, sold a three-bedroom rental property in Waterford, Michigan, for $245,000 and his late mother-in-law's 1,500-square-foot condo in West Bloomfield, Michigan, for $250,000.

Bloom, who said he's bought and sold at least a dozen properties in his life, said he used to look up real-estate agents in the area of the home and research their sales volumes. He would then contact the top candidates before hiring one.

He found that he preferred Redy because the agents reached out to him.

"I posted the house and a dozen Realtors responded," he told BI. "For me, it was really a time saver. It did all the research that I had to do, and they came to me versus me having to go and do it on my own."

Bloom said the commission was also lower than he had paid in the past. The agent he selected settled on a 4.5% commission, which was lower than the 6% He was used to paying as the seller.

The cash bonus the agent paid him — which Bloom said was $1,200 for the first house he sold and $1,040 for the second house — was also a large factor.

Bloom said he saved nearly $10,000 on broker commissions between the two transactions. Selling each home took less than a month, he added.

Redy, which has officially launched in markets including Atlanta, Dallas, Orlando, Phoenix, and San Diego, is continuing to expand to other parts of the country.

A California homebuyer paid a flat fee rather than a percent of the sales price

California-based real-estate investor Sergio Rodriguez used a new homebuying service to purchase a home from his neighbor.

Rodriguez, 38, and the seller wanted to keep their $600,000 transaction off-market, which means the property wouldn't be listed on the Multiple Listing Service (MLS).

The seller wanted to get as much money as possible for the home and get rid of it fast, Rodriguez said, while he wanted to save on commission costs, too.

They couldn't find an agent to help them complete the transaction because Rodriguez and his neighbor wanted to keep the commission under 4% of the total sale price, below the 6% standard.

"I even have family and friends who are Realtors, and they were like, 'Let me run it through my brokerage and see if they'll be willing to transact for you,' and they all said no," Rodriguez told BI. "It was really hard to find a Realtor to just simply transact on it. You can try to do it privately, but it's just too much paperwork."

To close the deal, Rodriguez turned to TurboHome, a homebuying service in California, Texas, and Washington. The company, which bills itself as a "real estate brokerage of the future," uses AI in addition to licensed agents. It pays its agents salaries, then has buyers pay a flat fee rather than a percent commission.

After TurboHome got involved, Rodriguez said, he and his neighbor were in contract in 24 hours.

Rodriguez said he ended up paying TurboHome about $1,000 in fees. (The company said the standard flat fee ranges from $5,000 to $10,000.)

He estimated he saved about $40,000 compared to using a traditional agent.

"That's a lot of money when you're buying a $600,000 house," he said.

• US News & World Report created a list of the best places to live in the US in 2024.
• Factors such as housing affordability, job opportunities, and quality of life determined the list.
• Naples, Florida, tops 2024's list, followed by Boise, Idaho, and Colorado Springs, Colorado.

Deciding where to live isn't always easy.

Some people move multiple times in a decade, searching for new experiences or better opportunities. Others end up regretting relocating to their new homes.

While everyone's circumstances are unique, data can help narrow down the choices.

Every year, US News & World Report ranks 150 big cities based on factors including quality of life, schools, crime rates, employment opportunities, and housing affordability to find the best places to live in the United States.

For 2024's list, the South and the Midwest have the most cities ranked in the top 15.

Booming Boise, Idaho; outdoorsy Colorado Springs, Colorado; and the bustling banking hub of Charlotte, North Carolina, all consistently make the list of the best places to live. Newcomers include Austin, a growing tech hub, and two scenic South Carolina locales: Greenville and Charleston.

In addition to weighing job opportunities and housing costs, US News & World Report emphasizes each area's overall standard of living.

Here are the 15 best places to live in the US, according to US News & World Report. Residents find plenty to like about these cities, including relatively affordable homes, plenty of jobs, and lots of ways to spend their free time.

15. Lexington, Kentucky

Population of the metro area: 320,154

Median home price: $331,000

Median monthly rent: $1,600

Median household income: $66,392

Climate Vulnerability Index: 58th percentile (average vulnerability). This index shows areas of the US most likely to face challenges from climate change.

Known for: Home to over 450 horse farms, Lexington is known as the horse capital of the world. While it doesn't have the Kentucky Derby, Keeneland Race Track holds its own horse races twice a year.

14. Madison, Wisconsin

Population of the metro area: 280,305

Median home price: $415,000

Median monthly rent: $1,700

Median household income: $70,484

Climate Vulnerability Index: 6th percentile (lowest vulnerability)

Known for: Wisconsin's capital is also the state's second-largest city. Madison is a college town, offering plenty of chances to see concerts and sporting events.

13. Charleston, South Carolina

Population of the metro area: 155,369

Median home price: $617,500

Median monthly rent: $2,800

Median household income: $89,083

Climate Vulnerability Index: 55th percentile (average vulnerability)

Known for: With its cobblestone streets and 18th- and 19th-century buildings, Charleston is a dream for historic-architecture buffs. Plus, miles of beachy coastline are just a short trip from downtown.

12. Green Bay, Wisconsin

Population of the metro area: 105,744

Median home price: $318,000

Median monthly rent: $999

Median household income: $66,950

Climate Vulnerability Index: 15th percentile (lowest vulnerability)

Known for: Wisconsin's oldest city is home to the Green Bay Packers, a storied NFL team. Nature lovers can make the most of Green Bay's 25-mile Fox River State Trail, even in the winter.

11. Sarasota, Florida

Population of the metro area: 57,602

Median home price: $488,500

Median monthly rent: $2,800

Median household income: $68,870

Climate Vulnerability Index: 24th percentile (lower vulnerability)

Known for: Sarasota earned the nickname the Circus City because Ringling Bros. and Barnum & Bailey Circus moved its winter quarters to the beachy town in 1927. These days, the weather, leisurely pace of life, and lack of income tax all attract people to Florida. Sarasota, in particular, has become a magnet for workers, according to a January LinkedIn report.

10. Boulder, Colorado

Population of metro area: 105,898

Median home price: $945,000

Median monthly rent: $2,995

Median household income: $75,923

Climate Vulnerability Index: 12th percentile (lowest vulnerability)

Known for: Not far from the Rocky Mountains, Boulder is known for outdoorsy activities, including rock climbing, hiking, skiing, and cycling. The city's median age is 28.6, giving it a youthful, lively energy.

9. Austin

Population of metro area: 979,882

Median home price: $484,900

Median monthly rent: $2,000

Median household income: $91,501

Climate Vulnerability Index: 20th percentile (lower vulnerability)

Known for: An artsy, contemporary city, Austin is known for its vibrant nightlife, live music, eclectic cuisine, and college scene. It also has a long history of attracting tech giants, and even more companies have opened offices there since the pandemic. West Coasters in the industry have moved to the city, lured by the booming job market and comparatively low cost of living.

8. Virginia Beach, Virginia

Population of metro area: 453,649

Median home price: $384,500

Median monthly rent: $2,195

Median household income: $91,141

Climate Vulnerability Index: 18th percentile (lowest vulnerability)

Known for: Boasting a beloved boardwalk, Virginia Beach has miles of beaches, delectable seafood, and a mild climate. Murals, museums, and shops in the ViBe Creative District give the seaside destination some arty flair, too.

7. Huntsville, Alabama

Population of metro area: 225,564

Median home price: $315,000

Median monthly rent: $1,465

Median household income: $73,319

Climate Vulnerability Index: 54th percentile (average vulnerability)

Known for: Since the start of the US space program in the 1950s Huntsville has been a hub for the aerospace and defense industries. Today it's bursting with startups, alongside long-standing workplaces like NASA and Boeing. Jeff Bezos' Blue Origin also has a facility for building rocket engines in Huntsville.

6. Raleigh, North Carolina

Population of metro area: 482,295

Median home price: $450,000

Median monthly rent: $1,826

Median household income: $86,309

Climate Vulnerability Index: 13th percentile (lowest vulnerability)

Known for: This capital city has a busy downtown, free museums, and miles of hiking trails. Part of North Carolina's Research Triangle, Raleigh has a long history of fostering technology and science companies, creating a strong local economy.

5. Charlotte, North Carolina

Population of the metro area: 911,311

Median home price: $424,900

Median monthly rent: $1,950

Median household income: $80,581

Climate Vulnerability Index: 35th percentile (lower vulnerability)

Known for: Second only to New York, Charlotte is a bustling banking hub. Locals can root for the city's professional basketball, football, and soccer teams or soak up the art and food scenes.

4. Greenville, South Carolina

Population of the metro area: 72,824

Median home price: $366,500

Median monthly rent: $1,725

Median household income: $73,536

Climate Vulnerability Index: 55th percentile (average vulnerability)

Known for: In the foothills of the Blue Ridge Mountains, Greenville attracts new residents with its moderate climate, burgeoning food reputation, and natural beauty. Greenville is also home to several major corporations, including Michelin, GE, and Lockheed Martin.

3. Colorado Springs, Colorado

Population of the metro area: 488,664

Median home price: $440,000

Median monthly rent: $1,873

Median household income: $83,215

Climate Vulnerability Index: 34th percentile (average vulnerability)

Known for: The US Olympic and Paralympic Training Center is located in Colorado Springs, making the city especially attractive to athletes. There are hundreds of miles of trails for hiking and mountain biking, and white water rafting is a popular summer activity. From the Garden of the Gods to the iconic Pikes Peak, gorgeous natural sights adorn the area.

2. Boise, Idaho

Population of the metro area: 235,421

Median home price: $472,500

Median monthly rent: $1,774

Median household income: $79,977

Climate Vulnerability Index: 9th percentile (lowest vulnerability)

Known for: Thousands of new residents flocked to Idaho's capital in the past decade, making it the US's fastest-growing city in 2018. Boise blends sought-after amenities such as microbreweries and cider houses with nearby scenic state parks full of rivers, canyons, and mountains.

1. Naples, Florida

Population of the metro area: 19,704

Median home price: $629,500

Median monthly rent: $6,100

Median household income: $135,657

Climate Vulnerability Index: 32nd percentile (lower vulnerability)

Known for: Located on Florida's Gulf Coast, Naples is like a postcard come to life, with white-sand beaches, luxurious residences, and over 1,350 holes of golf. The city has long attracted wealthy residents who can afford the high housing costs. Right now a $295 million compound is up for grabs, the most expensive home for sale in the US.

Sources: Population and income data are from the US Census, median home price from Realtor.com, median rent from Zillow, and climate information from the Climate Vulnerability Index.

This story was originally published on May 15, 2024, and most recently updated on December 4.

• Robert Redford has listed his Tiburon, California, home for $4.15 million.
• The actor, 88, and his wife want to spend more time in Santa Fe, New Mexico.
• The couple has recently offloaded a wine-country estate in California and two Utah properties.

Robert Redford and his wife have put their secluded home outside San Francisco on the market for $4.15 million.

The actor, who starred in films "Butch Cassidy and the Sundance Kid" and "The Way We Were," was born in California and still owns property there but said in an email that he wants to spend more time in other parts of the West.

The roughly 2,824-square-foot home is located in Tiburon, California, a town across the Golden Gate Bridge from San Francisco. The median listing price for homes in Tiburon is $3.3 million, according to Realtor.com.

Redford and his wife, artist Sibylle Szaggars Redford, bought the home in 2020 for $3.1 million, public records show. The couple also own another home in California, Sundance, Utah, and Santa Fe, New Mexico — where they primarily live.

"Sadly, we are not able to spend as much time in Tiburon as we would like, as we are now spending more time in Santa Fe, New Mexico," the Redfords said in an email. Santa Fe is home to Szaggars Redford's fine art gallery and an arts and conservation nonprofit the couple runs called The Way of the Rain.

Redford, who has said over the years that he values privacy, added that the Tiburon house appealed to him in part because of its location "on a quiet, unpaved cul-de-sac, which does not experience a lot of traffic."

In 2014, he told the Hollywood Reporter that he wanted to leave the congestion of his hometown of LA.

"I wanted to be away from Los Angeles because I felt it was going to the dogs," he said. "I was just getting more and more anxious about wanting out."

The couple has offloaded several properties over the last five years.

In 2019, they sold a Napa Valley home on 10 acres of wine-country land for $7 million. They still have another property in California, according to the Wall Street Journal.

Redford, who cofounded the Sundance Film Institute in Utah, has also sold two properties in the state: the 2,600-acre Sundance Mountain Resort and Horse Whisper Ranch. Szaggars Redford listed a separate cabin in Utah for $3.99 million earlier this year. Redford still owns a ranch near the resort.

The four-bedroom, two-and-a-half-bathroom home is nine miles from the Golden Gate Bridge.

The wood-shingled home was built in 1968.

The Redfords, who bought the house for $3.1 million in 2020, have put it on the market for $4.15 million.

The Redfords remodeled the interior of the home to give it a more coastal feel.

According to Compass, the brokerage representing the Redfords, the home's furniture and artwork are not included in the listing price but can be negotiated.

The house has 2,824 square feet inside and more than 1,000 square feet of outdoor decking.

The home has views of San Francisco Bay, Angel Island, Raccoon Straits, and the East Bay.

The home's lush surroundings make it feel like an oasis.

The home is surrounded by redwood trees, according to listing agent Steven Mavromihalis, and the gardens are perfect for lavender, jasmine, and succulents.

The split-level home is located on a quiet cul-de-sac off an unpaved dirt road.

The cottage is a short walking distance to the beach, hiking trails, restaurants, and three yacht clubs.

Even though it feels secluded, the house is not too far from San Francisco.

Tiburon has a population of under 10,000 residents, but the property is only a 40-minute car ride — or a 30-minute ferry ride — away from San Francisco.

• Realtor.com forecasts that home prices will rise slightly in 2025.
• Researchers expect mortgage rates to come down next year but still remain above 6%.
• There's a silver lining: Increased inventory and new construction may offer buyers some relief.

The housing market in 2024 hasn't been kind to those looking for a home: The age of the typical first-time homebuyer increased by three years, mortgage rates stayed firmly above 6%, and some people felt it would be more affordable to keep renting than to buy.

Although Realtor.com's housing forecast predicts some of the same for 2025, there are a few encouraging signs.

Home affordability has improved modestly after reaching the lowest level in decades last year, and transactions have picked up after an eerily quiet 2023.

Danielle Hale, the chief economist at the real-estate listings and data site, said a "Trump bump" could affect the housing market.

"For now, we expect a gradual improvement in housing market dynamics powered by broader economic factors," Hale said in the forecast. "The new administration's policies have the potential to enhance or hamper the housing recovery, and the details will matter."

Most consumers care about what will happen to home prices and mortgage rates, which directly affect their ability to buy a house.

With that in mind, here are five predictions for the housing market in 2025 from Realtor.com.

1. Home prices will drift higher

The median home sale price nationwide is up 32% since 2019, per the Federal Reserve Bank of St. Louis. However, it was $420,400 in the third quarter of 2024, down a bit from $435,400 a year earlier.

Buyers are holding out for more relief, but it might not come in 2025.

Barring a serious shock, home prices should continue to climb modestly. Realtor.com predicts that home sale prices will increase by 3.7% in 2025, which would be about a $15,000 jump.

"Prices are going to keep rising because we're not going to have a recession," Ralph McLaughlin, a senior economist at Realtor.com, said in an interview with Business Insider. "If you look at the times that home prices fall, it's typically only when there's a recession, and only when people are forced to sell."

Higher home prices may cause buyers to expand their house hunts to more affordable parts of their states or the country, like the Sunbelt. Twelve of the 16 cities that Realtor.com thinks will have double-digit price appreciation in 2025 are in the Southeast or Southwest.

2. Mortgage rates will stay above 6%

The average 30-year mortgage rate has dipped slightly, to 6.7% from a peak of 7.8% a year ago. Rates dropped to a historically low mark of 2.7% in 2021 and have mostly climbed since then. A pair of interest-rate cuts haven't significantly affected mortgage rates.

Next year's economy will be typified by lower interest rates and steady growth, Realtor.com predicted. The firm expects a rate cut in December and then a few more in early 2025.

That means Realtor.com researchers don't expect mortgage rates to drop dramatically next year, projecting that the 30-year will stay above the 6% threshold and be at 6.2% by the end of 2025.

3. Rents will be roughly the same

Rent growth may stall, as Realtor.com expects US apartment prices to fall 0.1%.

That's largely thanks to a major increase in rental unit inventory. Real-estate site Zumper found that the supply of new apartments in the US hit its highest level in five decades this summer.

"What we've seen over the past couple years is a large uptick in new multi-family construction, and they tend to be released all at once," McLaughlin said. "And so it can have very sharp and especially isolated impacts on rents — in particular — in urban areas where they are built."

Construction trends suggest the rental stock should increase in all parts of the country, but especially in the South, Realtor.com said. New homes and apartments could lead to lower rents in some cities and states.

Landlords may also struggle to raise rent substantially in a strong economy with lower mortgage rates, since renters could walk away from bidding wars and look at buying homes instead.

"When incomes grow enough in the rental segment, those renters tend to convert over to owners," McLaughlin said. "They typically won't use their incomes to bid up rents more — they'll just go and, if they can afford it, they'll go buy a house."

McLaughlin added: "Those that continue to stay renting, landlords don't have the ability necessarily to raise rents at the rates that price growth plays out in most markets."

Still, inventory increases may not translate to meaningful discounts on homes or rental units. Prices almost always rise over time along with the population size and money supply, so while apartments may be easier to find, those pining for pre-pandemic prices could be disappointed.

4. The market will be high on housing supply

Next year's housing market may be marked by sizable increases in home and apartment supply.

An 11.7% jump in existing home inventory and a 13.8% surge in single-family home starts will usher in the first "balanced" housing market in nine years, Realtor.com predicted. That would mean neither buyers nor sellers will have disproportionate leverage in 2025.

New single-family homes are expected to reach 1.1 million, the most since 2006. That should give prospective buyers more chances to score a home.

"While more inventory means buyers will likely have more time to make purchase decisions in 2025, in any market, a fast-acting buyer will have a higher likelihood of making the winning offer," Hale said in the report.

Homes have been in short supply for decades. Despite an uptick in construction, Freddie Mac estimated that the US needed 3.7 million more units to offset the shortage, as of last quarter.

Continued supply improvements mean there should be 4.1 months of homes available in 2025, up from 3.7 months now, Realtor.com said. The National Association of Realtors, a competing firm, reported last month that there was already 4.2 months' supply of existing homes available.

5. Home sales will surge

The housing boom during the pandemic devolved into a bust in 2022 and 2023 — a year in which home transactions reached their lowest levels in decades as housing affordability tanked.

Buyers and sellers are holding out for lower rates, and in the meantime, sales have stagnated.

"What I say to agents very often is, 'We're in a recession of transactions,' which is a different situation than the rest of the economy," Leo Pareja, the CEO of real-estate brokerage giant eXp Realty, said in a recent interview with Business Insider.

Many would-be buyers have been priced out of the market, while those hoping to move were reluctant to sacrifice their modest mortgages. In fact, about 84% of US mortgages are at rates below 5%, Pareja said. For that reason, many baby boomers have held onto their homes, giving younger buyers fewer options.

"If you're locked in at a 3.5% rate — even if you found your dream home, swapping that for a 6.8% rate is virtually impossible," Pareja said.

Lower mortgage rates and higher supply should spark a turnaround for home transactions. Pareja and his colleagues at eXp see sales activity rising 10% next year — far above Realtor.com's 1.5% forecast.

While the housing market overall may still favor sellers, more homes for sale can help buyers secure better deals and more concessions.

President-elect Donald Trump's policies may also be a tailwind for sales activity. Stock-market strategists mostly agree that tax cuts and deregulation will boost business confidence, and McLaughlin suspects that could rub off on homebuyers.

"If you're talking about the resale market, the existing-homes market, it's hard not to become optimistic about just the broader economy, because of things like tax cuts and other benefits to households that might put more money in their pocket at the end of the day," McLaughlin said.

He added, "That might encourage them to go out and either buy a home if they don't currently own one — or grade up to a house maybe they've been waiting to over the last few years."

• 29 countries offer residence visas for remote workers, or "digital nomad visas."
• Spain and Italy have joined the growing list of countries offering digital nomad visa programs.
• Governments hope the visas will help develop more sustainable tourist economies.

In the lead-up to the election, Business Insider reported millions of Americans were considering leaving the country if former President Donald Trump won his 2024 campaign. After his victory was announced, searches for the phrase "moving to Canada" spiked — along with inquiries about international digital nomad visas.

The specialized visas allow remote workers to live and work in countries like Malta, Portugal, and Costa Rica — as long as their income comes from outside the country.

And as some American tourists consider moving abroad, dozens of countries have, in recent years, launched special visas designed specifically for remote workers to drive tourism in their countries.

In some countries, the visas have become so popular that they've had to start turning people away. As of October 2024, for example, Cyprus is no longer accepting digital nomads after it filled the 500 slots it had available for its visa program.

Nonetheless, there are still plenty of options elsewhere. Here are 29 countries that offer visas specifically for remote workers, the minimum income required to apply, and how much they cost.

Europe digital nomad visas

Malta

Malta, an island south of Italy, has a permit that allows nomads to keep their jobs elsewhere and legally stay in the country for one year with a chance of renewal.

To be eligible, you must be from a country outside the EU and EEA and have a minimum gross annual income of 42,000 euros. The Nomad Residence Permit requires applicants to have health insurance, hold a valid travel document, have a rental or purchase agreement, and pass a background check. There is no application deadline, but there is a 300-euro application fee.

Latvia

Latvia introduced its digital nomad visa in February 2022, allowing applicants to spend up to a year in the country with the opportunity to renew for another.

Digital nomads must either work for a company based in a member state of the OSCE (Organization for Security and Co-Operation in Europe) or a company registered in one of those countries for at least six months.

They must also have health insurance and make at least 2.5 times the country's average monthly salary of the previous year, which the government website reports is about $4,043 (€3,843). There's also a $63 (€60) state fee for the visa application.

Romania

To apply for Romania's digital nomad visa, digital nomads must show proof they can work remotely, either as freelancers, business owners, or employees of a company registered outside the country.

Applicants are also required to have a clean criminal record, medical insurance for the duration of the visa with a minimum liability of $31,580 (€30,000), make at least three times the average gross monthly salary in Romania, around $3,467 (€3,300), and pay an application fee of $126 (€120).

Hungary

Known as the White Card, the digital nomad visa in Hungary requires applicants to be employed by a company outside the country, have shares in a company outside the country, or work as a freelancer.

In addition to providing proof of health insurance and proof of accommodation, those keen on getting a White Card must earn at least $3,146 (€3,000) a month. Application fees can cost as much as $297 (€284).

Croatia

Croatia allows non-EU citizens to apply for its digital nomad visa program, which grants up to one year of residency for remote workers.

The program also allows residency for close family members of the visa applicant so long as the family meets the country's income requirements. To be eligible, applicants must make a minimum of 2,870 euros a month (or $3,035) or have a minimum of 34,440 euros (or $36,430) already available in their account.

Iceland

In Iceland, a long-term visa for remote work can grant you 90 to 180 days while working. The program requires that you are from a country outside the EU and EEA and also from a country that does not need a visa to travel to the Schengen area (US citizens can travel to Iceland without a visa).

Applicants must also have a monthly income of 1,000,000 Icelandic króna (or $7,156) or 1,300,000 Icelandic króna if they bring a spouse.

Greece

Greece started its Digital Nomad Visa in 2021 and is still operating today. The program lets non-EU digital nomads, with a 3,500-euro monthly income, stay for 12 months.

The application fee is refundable at 75 euros, and there's also an administration fee of about 150 euros.

Portugal

Portugal has been kind to digital nomads. With its "Temporary Residence Visa for the Exercise of Professional Activity Provided Remotely Outside the National Territory," or D8 visa, launched in 2022, non-EU nomads can still freely work there.

Applicants must be over 18 years old, prove income over 3,280 euros a month, and show proof of accommodation for at least 12 months. The application fee ranges from 75 to 90 euros.

Estonia

Estonia launched its Digital Nomad Visa (DNV) program in 2020, offering up to a year of residency for eligible workers looking to live in the Northern European country bordering the Baltic Sea and Gulf of Finland.

Eligible remote workers must prove they earn at least 3,504 euros a month (or $3,706) and apply in person at their nearest Estonian Embassy or Consulate. Application fees range between 80 and 100 euros ($84 and $105).

Spain

Spain's Digital Nomad Visa Program allows remote workers, their spouse or unmarried partner, and dependent children to reside in the country for one year.

Applicants must have an undergraduate or postgraduate degree from a "University, College, or Business School of prestige" or have at least 3 years of work experience in their current field, in addition to earning at least 200% of the monthly Spanish national minimum wage — currently set at 37.8 euros/day ($39) or 1,134 euros/month ($1,199).

Italy

Italy's Digital Nomad Visa is available to non-EU citizens who are highly specialized workers with careers that require post-secondary degrees or at least three years of professional training or experience.

The visa lasts up to one year for the applicant, their spouse, and dependent children. To be eligible, the applicant must prove that their salary is at least three times the annual minimum wage of 24,789 euros (or $26,221) and that they have at least 30,000 euros (or $50,000) worth of medical insurance coverage.

Asia and Africa digital nomad visas

Bali, Indonesia

In April, Bali introduced a Remote Worker Visa (E33G), which allows digital nomads to work from Bali for a year. Foreign workers in Bali must be employed by a company outside Indonesia and receive a yearly income of at least $60,000.

The application fee for a standard single-entry visa costs 12,900,000 Indonesian rupiah, or about $810.

Thailand

The Destination Thailand Visa allows digital nomads to stay in Thailand for up to 180 days per visit, on a multiple-entry basis, within five years. The visa fee costs 10,000 Thai baht, or $284.

Applicants must be at least 20 years old and have at least THB 500,000, or about $14,400 USD, in their bank. Employed workers are required to have a foreign employment contract, while freelancers need a professional portfolio.

Japan

Japan introduced a new digital nomad visa in April. This visa allows holders to work remotely in the country for up to six months. Visa holders must be nationals or citizens of selected regions, including the US and UK.

Applicants must have an annual income of at least 10,000,000 Japanese yen, or $65,000, and submit their applications in person or by mail to the nearest embassy or consulate general of Japan. A single-entry visa costs $22, while a multiple-entry visa costs $43, but some countries, including the US, are exempt from this fee.

United Arab Emirates

UAE's virtual work residence visa allows holders to live and work remotely in the UAE — including Dubai and Abu Dhabi — for up to a year. Applicants must make at least $3,500 a month and have sufficient health insurance coverage within the country.

The service fee to apply for the visa is 300 United Arab Emirates Dirhams, or about $80.

Cabo Verde

Cabo Verde's Remote Working Program allows remote workers to stay for up to 6 months, with the option of renewal after. Individual applicants must have an average bank balance of 1,500 euros, or $1,570, in the past 6 months.

The visa fee costs 20 euros, and applicants must submit an online form to indicate their interest.

South Africa

South Africa recently launched a remote work visa, which allows holders to stay for at least 3 months and up to 3 years. While details are still being finalized, the latest visa requirements state that applicants must have a salary of at least 650,796 South African Rand, or about $36,000, and a valid foreign-based employment contract.

Caribbean digital nomad visas

Grenada

To receive a digital nomad visa from Grenada, you need a valid passport, an annual income of at least EC$100,000 a year, or about $37,000, full COVID-19 vaccination, and valid health insurance.

There is no application deadline. The fee is $1,500 for individuals, $2,000 for a family of four, and $200 for each additional dependent.

St. Lucia

St. Lucia's Digital Nomad Visa program, "Don't Just Visit, Live It," has no income threshold. The one-year visa is available to remote workers, freelancers, and students.

The application fee costs $125 XCD (about $47) for a single-entry visa or $190 XCD (about $70) for a multiple-entry visa.

Curaçao

Curaçao's Digital Nomad Visa, the At Home in Curaçao program, has no salary requirements. Still, you must be employed, own a business, or have freelance clients outside the country.

Health insurance, a clean criminal record, and proof of accommodation or a lease on the island are also required. The visa application fee is about $294.

Dominica

To qualify for Dominica's Digital Nomad Visa, the Work in Nature (WIN) Program, you must be 18 years old and have a clean criminal record.

You will also need an income of at least $50,000 or have sufficient funds to support yourself and any family members accompanying you during a 12-month stay.

The application fee is $100. The individual visa costs $800, and the primary applicant can also apply for their spouse and dependents for a total fee of $1,200.

Anguilla

The digital nomad visa in Anguilla has no income requirements, but interested travelers must fill out an application at least 7 days before arrival.

Digital nomads also need proof of a negative COVID-19 test 3 to 5 days before they step foot on the island and proof of a health insurance policy covering COVID-19 complications.

Antigua and Barbuda

To nab Antigua and Barbuda's two-year visa through the Nomad Digital Residency Programme, applicants must be 18 or older, earn at least $50,000 a year, and have a clean criminal record.

Their employer must be outside Antigua and Barbuda as well. Application fees range from $1,500 for a single person to $3,000 for a family of three, plus another $650 for each additional dependent.

Barbados

Introduced in June 2020, the Barbados 12-Month Welcome Stamp offers a one-year visa for digital nomads interested in the island and the opportunity to renew.

Applicants must make at least $50,000. Fees are $2,000 for an individual and $3,000 for a family bundle and must be paid within 28 days of application approval.

North, Central, and South America digital nomad visas

Bermuda

The Work from Bermuda certificate was created for "remote workers, self-employed digital nomads and university students engaged in remote learning," according to the program's web page. It lasts for 12 months and is renewable on a case-by-case basis.

The application fee is $275, and interested applicants must be at least 18 years old, have a clean criminal record, and have valid health insurance.

There is no official salary requirement, but applicants must demonstrate that they "have substantial means" or a "continuous source of income," though no official range is provided.

Colombia

Colombia's "Visa V Digital Nomads" program allows expats from more than 100 countries to live and work remotely in the tropical country for up to two years. Applicants must make a minimum income of three times the current legal monthly minimum wage in Colombia, which currently equals about $885 a month.

The application costs $54, and if approved, the Visa itself costs another $177. People hoping to become digital nomads in Colombia must also provide a contract or employment letter detailing their employment agreement and compensation details. Entrepreneurs may alternatively submit a letter outlining their business project and financial resources.

Belize

Belize offers citizens of the European Union, the United Kindom, the United States, and Canada the chance to live and work in the country via its "Work Where You Vacation" program. Applicants can secure a six-month visa by proving they make a minimum annual income of $75,000 or $100,000 if applying with dependants. Kids under 18 are eligible to enroll in the country's school system.

Applicants must submit a notarized banking reference, a police record, and proof of travel insurance. The visa costs $500 per adult and $200 per child.

Costa Rica

Costa Rica's digital nomad program extends the country's 90-day tourist visa to a full year with the option to renew for an additional year. Applicants must be foreign nationals who earn a minimum of $3,000 a month or $4,000 a month if applying with dependants.

All application materials must be submitted in Spanish. The application costs $100, while the visa is an additional $90.

Brazil

Brazil's digital nomad visa (VITEM XIV) allows foreign nationals from more than 100 countries to work remotely in the South American country for one year and to renew for longer.

The visa is available to remote workers who can prove a monthly minimum income of $1,500 or an available bank balance of at least $18,000. Applicants must submit a background check, a copy of their birth certificate, proof of valid health insurance in Brazil, and documents proving digital nomad status.

The visa costs $290 for US applicants and between $100 and $215 for UK applicants. Expats from all other countries will pay $100 for the visa.

• Michael Kittredge II's son put the Yankee Candle founder's Massachusetts estate up for sale in 2022.
• The compound, which features an indoor water park and bowling alley, was originally listed for $23 million.
• After two years on the market, the estate could soon be redeveloped as senior living. 

Three years after Yankee Candle founder Michael Kittredge II died in 2019, his son, Michael Kittredge III, put the family's sprawling 120,000-square-foot compound on the market for a whopping $23 million.

Now, after more than two years of no movement and a significant slash to its asking price, the historic Massachusetts estate could soon be transformed into an entirely different kind of living space. The Kittredge family has enlisted Josh Wallack, a Florida-based developer, to oversee the re-imagination of the mansion into a luxurious senior living community that features affordable housing.

In a conversation with Business Insider, Wallack outlined his vision for "Pioneer Point at Juggler Meadow: A 55+ Active Adult Community," a $200 million project that aims to incorporate all the amenities of the Kittredge estate into a community that helps address Massachusetts' housing crisis. 

"This is going to be amazing. Regular people can buy one of these units and live in this amazing place that is like heaven on Earth," Wallack said. 

Take a peak inside the mind-boggling compound.

The former home of Yankee Candle founder, the late Michael Kittredge II, went on the market in September 2022.

The $23 million listing quickly went viral thanks to its litany of amenities. 

The sprawling estate is located about two hours outside Boston in Leverett, Massachusetts.

The estate encompasses 120,000 square feet of living space spread across eight separate structures, including a main house, a clubhouse, a spa, a pool cabana, two guest houses, and two car barns.

The main residence is a 25,000-square-foot house designed in the colonial style. It was originally constructed in the 1980s.

The compound sat on the market for months before its price was slashed from $23 million to $14.9 million.

Wallack and his family stayed at the estate's guest home in 2022 after he hit it off with Michael "Mick" Kittredge III.

As an expert in rezoning, Wallack said the Kittredge family asked him what he thought they should do with the property. 

"Instead of looking for one billionaire to buy this mansion, let's take all the land underneath it and build 700 homes and allow regular people to live here and use your father's mansion as the social club," Wallack said he told the family.

Wallack wants to turn the estate into an active senior living community.

If approved, Wallack's plan would allow people 55 and older to buy individual units on the property, where they would have full access to amenities like an onsite restaurant, cafe, tennis and pickleball courts, and a beauty parlor. 

The project would offer 25% of units at affordable housing rates.

Wallack said the community would be comprised of 25% of units at affordable housing costs and 75% of units at market rate. 

Someone making $84,000 a year would pay about $1,875 a month for an affordable unit, Wallack said.

The budget for the project is about $200 million, Wallack said.

Wallack serves as the development manager representing the Michael Kittredge trust. 

The team is in the final stages of preparing an application to MassHousing.

Wallack is working to garner more community support.

Take a peak at the original mansion before it potentially is redesigned.

The main residence has six full bathrooms and five half-bathrooms spread out between five bedrooms.

The house features 11 fireplaces, including in some of the bathrooms.

The lower level of the house has a 10-seat movie theater.

Kittredge was a car enthusiast who had two temperature-controlled car barns built at the estate.

The spa is a major attraction at the compound and houses a fitness center, as well as basketball and tennis courts.

Wallack said his project would turn some of those tennis courts into pickleball courts for senior residents. 

Kittredge had three outdoor tennis courts and one indoor court constructed at the estate.

The indoor tennis court also doubles as a concert venue, which has hosted such bands as The Doobie Brothers, as well as KC and The Sunshine Band.

The fitness center takes up 4,000 square feet and has multiple locker rooms.

A bowling alley is situated in the 55,000-square-foot spa.

The compound also has a two-story arcade.

In addition to an outdoor pool, the estate also has an indoor Bellagio-style water park.

It is full of slides, waterfalls, and palm trees.

The real estate company that originally listed the compound said the estate is set up like a private country club and includes a nine-hole golf course.

The clubhouse, which looks out on a pool and two cabanas, has four bedrooms, two bathrooms, and a full kitchen.

The compound is also home to two guest houses.

"There was nothing he loved more than bringing his family and friends together and hosting parties at his home," Kittredge's son said in a 2022 press release.

• Donald Trump will be returning to the White House after the inauguration on January 20.
• His name is splashed across buildings all over the world, but he hasn't called that many home.
• Here's a look at some of the most significant houses of Trump's life, past and present.

Donald Trump became president of his father's real-estate company in 1971, building residences, hotels, casinos, and more over the course of his career.

The president-elect's name appears on properties from Turkey to India, but he hasn't truly lived in that many.

From a triplex penthouse wholly decorated in gold to a palatial country estate once owned by the Heinz family, Trump's chosen homes are pretty special

Today, the property most synonymous with Trump is his resort in Palm Beach, Florida, Mar-a-Lago, where he spent a large chunk of his first term and has recently hosted Mark Zuckerberg, Elon Musk, and more.

Once he's inaugurated a second time, Trump will move back to the White House in Washington, DC.

If his next presidential term is anything like his last, Trump will still spend time at some of his other homes in Florida and in the Northeast. (Representatives for the Trump-Vance transition team didn't respond to a request for comment from Business Insider.)

Here's a look at Trump's houses over the years.

Trump spent his early years in an affluent neighborhood in Queens, New York.

Trump was born in 1946 in Queens, New York, to Fred and Mary Anne MacLeod Trump. During his childhood, he lived in the Jamaica Estates neighborhood of Queens, 22 miles east of Manhattan.

Jamaica Estates remains a relatively wealthy part of Queens, with a median listing price of $1.5 million, according to Realtor.com.

Trump's father was one of the real-estate developers who built Jamaica Estates, which has verdant streets lined with Tudor-style homes.

His dad also built the five-bedroom, 2,500-square-foot home on Wareham Place where Trump lived until he was four years old.

Trump's childhood home last sold in 2017 to a limited liability company called Trump Birth House, which paid $2.14 million for the property in an auction. A few months later, the home was listed on Airbnb with a nightly rate of $725.

Trump Birth House listed the home for sale again in February 2019, with an asking price $2.9 million. In September 2019, the house went back on the auction block but still could not find a buyer.

In October, real-estate website Curbed reported that the owner had been MIA and that 20 to 30 feral cats were living in the unkempt yard.

When Trump is in New York City, he stays in his three-story penthouse atop Trump Tower.

There are Trump towers all over the world, but the president-elect has called the Trump Tower home since it opened in 1983.

Trump owns a three-level penthouse designed by late interior designer Angelo Donghia in the Louis XIV style, draped in gold furnishings and accents.

Trump has claimed that the penthouse is more than 30,000 square feet, but Forbes said in 2022 that property records show the actual square footage is 10,996. In 2024, Forbes estimated that the condo was worth $50 million.

His real-estate firm's offices and 2016 presidential campaign were headquartered in Trump Tower, which rises 68 stories at the corner of Fifth Avenue and East 56th Street.

Other past famous residents of Trump Tower include late-night talk show host Johnny Carson, pop icon Michael Jackson, and actor Bruce Willis.

Trump's primary residence is the Mar-a-Lago resort in Palm Beach, Florida.

Built in 1927 by cereal heiress Marjorie Merriweather Post, Mar-a-Lago is a 128-room mansion facing the Atlantic Ocean. According to the Mar-a-Lago website, Post donated the 17-acre property to the US government, who gave it back to the family when it couldn't keep up with the $1 million it cost each year to maintain the property.

Trump purchased Mar-a-Lago in 1985 for $5 million. He used it as a private residence until 1995, when he established it as The Mar-a-Lago Club. The Guardian reported in August that the initiation fee to join is $1 million.

Trump has renovated the property, including adding a 20,000-square-foot ballroom with Louis XIV gold and crystal finishes in 2005, according to the property's website.

Trump made Mar-a-Lago his primary residence in 2019.

Trump also has a massive country estate called Seven Springs outside New York City.

The president-elect owns a 60-room house in Westchester County, about 43 miles from Trump Tower.

Trump bought the estate, named Seven Springs, for $7.5 million in 1996. The seller was Eugene Meyer, the former Washington Post publisher who built it in 1919, according to the Trump Organization. Trump originally planned to turn the estate into a golf course but decided to keep it a private residence.

In addition to the main house, which has seven bedrooms over 50,000 square feet and was formerly owned by the Heinz family of ketchup fame, the property has carriage homes and three pools on its 230 acres.

The estate is so big that it straddles three different towns: Bedford, Armonk and Chappaqua.

Trump had claimed the property was worth $291 million, but Forbes reported in 2024 that the estate is worth closer to $30 million.

In March, New York State Attorney General Letitia James sought a sheriff's sale of Seven Springs as part of a $454 million judgment Trump was ordered to pay. Trump has appealed the ruling, and this week lawyers for the president-elect asked James to drop her civil fraud case against him.

Trump owns a few cottages at Trump National Golf Club in Bedminster, New Jersey.

In 2002, Trump purchased Lamington Farm, a 506-acre estate in Bedminster, New Jersey, from National Fairways, a Connecticut-based golf course developer.

According to a 2002 article in the New York Times, Trump paid "substantially less than the $35 million the seller invested in the project."

Bedminster is a town about 40 minutes west of Newark, New Jersey, and about an hour from New York City.

Trump National Golf Club, which has two 18-hole courses, opened in 2004.

In 2009, Trump's daughter, Ivanka, married Jared Kushner, who then worked for his family's real-estate development firm, at the golf club in Bedminster in 2009.

The main house is used as a private club for members of the golf course, but the Trump family owns cottages on the property. According to a 2017 article from Politico, Trump has a villa exclusively for him that has a two-story balcony and porch.

Trump is estimated to have played 261 rounds of golf, one every 5.6 days, during his first term as president, according to an analysis by the Washington Post.

In 2017, Bedminster hosted the US Women's Open. In 2022, it was going to host the PGA Championship, but the association relocated it to a different venue after the January 6, 2021, storming of the Capitol by Trump supporters.

Trump will move into the White House after the inauguration on January 20.

Built in 1792, the White House has been home to every US president since 1800. Trump, of course, already stayed in the White House during his presidency from 2017 to 2021.

With 132 rooms — which include 16 guest rooms, 35 bathrooms, and three kitchens — the White barely beats out some of the other properties he owns when it comes to opulence and grandeur.

• Massachusetts lawmakers proposed a generational ban on nicotine product sales.
• The state previously raised the legal age for tobacco purchases to 21 in 2018.
• Similar bans exist in other parts of Massachusetts.

A group of lawmakers in Massachusetts are attempting to outlaw young people from buying nicotine products with a proposal that will, in time, prevent everyone from buying them.

Not only would the new proposal prohibit anyone under the legal age of 21 from purchasing tobacco products, it would ensure that anyone born after a certain year wouldn't be able to buy them either, as first reported by the Associated Press.

"We all know the devastating health effects of nicotine and tobacco products, especially on our youth who are targeted by Big Tobacco," Democratic Sen. Jason Lewis said in a post on X on Tuesday.

Lewis and others plan to file the Nicotine-Free Generation bill at the start of 2025.

Massachusetts has already taken on tobacco products recently and won. In 2018, the state raised the legal age to buy tobacco products, such as cigarettes, cigars, and e-cigarettes, to 21. The Bay State would be the first state to adopt a ban of this kind.

This generational ban is somewhat unique nationally but has already taken place within the state. Brookline, Massachusetts, a town five miles outside Boston, put in place a similar ban in 2020 — anyone born after January 1, 2000, is unable to ever purchase tobacco products.

It was challenged, but courts upheld the ban in early 2024. Nearby Massachusetts towns, such as Malden, Melrose, Reading, Stoneham, Wakefield, and Winchester, followed Brookline's playbook and also placed generational bans on tobacco products.

In the US, California is trying to ban the purchase of tobacco products by 2073. New Zealand was the first country to impose a generational ban, but the country repealed that ban this year.

According to the Centers for Disease Control and Prevention, nearly nine out of 10 adults who smoke cigarettes daily tried smoking by the age of 18.

Lewis said that this proposed ban would be aimed at the youth in an attempt to protect them from the health concerns of tobacco products.

"This bill will not take away the right to purchase nicotine and tobacco products from anyone who is already legally able to do so," he said. "Rather, this legislation will protect future generations from nicotine addiction and the resulting health harms."

• Trump vowed to impose tariffs on Canada and Mexico on his first day in office.
• Canada's prime minister Justin Trudeau warned tariffs will harm both Canadian and American consumers and industries.
• Trudeau said he and Trump will "work together as we previously did."

Canadian Prime Minister Justin Trudeau responded to President-elect Donald Trump's Monday vow to impose tariffs on Canada and Mexico on day one in office.

Trudeau, who's been Canada's prime minister since 2015, told reporters in Prince Edward Island, Canada, that Trump's expected action will have consequences not just on Canadians but also on American consumers, according to the Associated Press.

"Our responsibility is to point out that he would not just be harming Canadians, who work so well with the United States, but he would actually be raising prices for Americans citizens as well and hurting American industry and business," Trudeau said.

After a phone call earlier in the week to discuss the plans, Trudeau also made his way to West Palm Beach on Friday to meet with Trump, sources told Bloomberg.

Trump plans to impose 25% tariffs on goods coming from the northern and southern neighbors of the US. He said it's a direct response to the inflow of immigrants and narcotics coming into the country illegally from Canada and Mexico, he said.

Canada and the US worked together during Trump's first presidency when re-negotiating the North American Free Trade Agreement. Trump threatened to use tariffs then as well. His threat of tariffs on imports from Mexico led to an expansion of the Migrant Protection Protocols program across the US-Mexico border.

Trudeau noted that the two have been able to come to an agreement in the past.

"We can work together as we did previously," Trudeau said.

While Canada has yet to impose any tariffs of its own, a senior official told AP that it is looking into introducing retaliatory tariffs on certain items from the US.

"We're going to work together to meet some of the concerns," Trudeau said. "But ultimately it is through lots of real constructive conversations with President Trump that I am going to have, that will keep us moving forward on the right track for all Canadians."

Mexico's President Claudia Sheinbaum Pardo has already said that her country would impose tariffs on the US if Trump goes through with his plan.

Sheinbaum said during a press conference this week that "one tariff will be followed by another, and so on, until we put joint ventures at risk."

As previously reported by Business Insider, Canada was the top export destination for 32 states in 2016. According to the Toronto Region Board of Trade, about 77% of Canada's exports go to the US.

• Florida is one of the most popular destinations for people moving from one US state to another.
• New census data shows that many more people moved into Florida than left between 2022 and 2023.
• The number of people leaving is up over issues such as rising costs and natural disasters.

When Derek Edwards was living in Wisconsin and Colorado, he often traveled to the Caribbean via Florida.

He liked his layovers so much that he decided to move to Miami when he was 28. Edwards, a teacher, said the weather has been worth it even if rent and groceries are more expensive.

"It's just beautiful," he told Business Insider earlier this year. "Just in case I don't stay in Florida forever, I'm going to go to the beach as much as I can."

Drawn by the balmy climate, numerous outdoor activities, and more, hundreds of thousands of movers like Edwards choose Florida every year. Census data released on October 17 indicates that between 2022 and 2023, nearly 637,000 people moved to Florida from another state, while nearly 511,000 left the Sunshine State for somewhere else in the US.

Those estimates come from the Census Bureau's release on state-to-state migration flows based on results from the 2023 American Community Survey. The annual survey asks, among many demographic and economic topics, whether respondents moved in the past year and, if so, which state they used to live in.

The net inflow during this period, however, was not as dramatic as in the previous year. From 2021 to 2022, nearly 739,000 people moved to Florida, while almost 490,000 left for another state.

Florida leavers have told BI in interviews that they are motivated by various factors, including increasing insurance costs, a rising cost of living overall, and the increasing intensity of natural disasters.

Read on for an analysis of where movers to Florida came from, based on census estimates — and where Sunshine State leavers headed for greener pastures.

New Yorkers continue flocking to Florida

New Yorkers still move to Florida in droves.

The New York-to-Florida route taken by over 71,000 people was the second-most-popular route for all movers within the US between 2022 and 2023 — behind only California to Texas. Still, it's a big drop from the 91,000 movers from New York to Florida between 2021 and 2022.

Many New Yorkers flee south in search of a cheaper life and better weather, though SmartAsset's analysis of IRS tax data found those who made the move in 2023 didn't save as much as those in previous years.

Most still do save money: Someone making $100,000 in New York could save $37,166 yearly in Miami in 2023, compared with the $51,273 they might have saved in 2019, SmartAsset found. This is partly due to Florida's rising utilities and housing costs.

Nearly 44,500 people moved from Georgia to Florida between 2022 and 2023 — even though about 55,000 people moved from Florida to Georgia, likely driven by Georgia's relatively lower cost of living.

Over 39,000 left California for Florida in that same period. Some people who moved out of the Golden State told BI their decisions were due to rising costs and shifting politics. Terry Gilliam, who moved from California to Florida over weather and political concerns, has started Facebook groups helping others make similar moves, which have attracted almost 300,000 members in total.

People who move out of Florida tend to stay in the South

Like in last year's release, Georgia was the most-popular state for those leaving Florida.

Some former Florida residents who moved to Georgia have said they wanted a similar climate but needed to leave as the Sunshine State became more expensive and commercialized. Others cited skyrocketing home-insurance costs.

• A small town in Italy is offering homes for 1 euro to attract Americans amid the recent election cycle.
• Ollolai's initiative is part of Italy's broader "Case a 1 euro" program started in the 2010s.
• There is also an option for digital nomads to work there for a month for only 1 euro.

In the lead-up to an administration change, you might hear someone say they're leaving the country for good. A small comune on the island of Sardinia in Italy is listening.

Ollolai, a town of 1,154 people, according to the Italian National Institute of Statistics, created a website geared toward helping Americans find homes in its town for just 1 euro (or about $1.05), taking advantage of the latest election cycle.

"Are you worned out by global politics," the new website reads. "Looking to embrace a more balanced lifestyle while securing new opportunities? It's time to start building your European escape in the stunning paradise of Sardinia."

Roughly one dollar for a home in a picturesque town in the middle of an Italian island — about 50 miles from the beach — might sound too good to be true. The homes offered aren't in the best condition and would require about $25,000 in renovations which must be completed within three years, according to previous reporting from Business Insider.

But if you're willing to put some effort into your home, Ollolai will welcome you.

"We just really want, and will focus on, Americans above all," Mayor Francesco Columbu told CNN. "We can't of course ban people from other countries to apply, but Americans will have a fast-track procedure. We are betting on them to help us revive the village, they are our winning card."

"Of course, we can't specifically mention the name of one US president who just got elected, but we all know that he's the one from whom many Americans want to get away from now and leave the country," Columbo told CNN.

The transition team for President elect-Donald Trump did not respond to Business Insider's request for comment.

This isn't a new program — and Ollolai isn't even the first town to try the approach.

"Case a 1 euro," which means "houses at 1 euro," is a program across Italy that launched in the 2010s to revitalize the dwindling populations in more rural towns. Ollolai started offering 1-euro homes in 2018, but other towns, like Sicilian commune Gangi, started giving away vacant houses in 2015.

Americans moving to Europe, and Italy specifically, has been a somewhat common trend. But if you don't want to commit fully to moving across the ocean, a redirect from the Ollolai website luring potential buyers offers an option for digital nomads.

"Work from Ollolai" is a program that lets "successful professionals" live in the municipality for just 1 euro as long as they "promote an exchange of information" to rural communities through presentations, classes, or projects.

That covers rent and, according to the website, guests can stay for a maximum of one month.