Rise of Alternatives: Expert Realtor Denis Smykalov from Wolsen Real Estate on the Spiking Use of

MIAMI - May 18, 2023 - PRLog -- Working behind-the-scenes, he has noted that the boom comes from international clients requiring faster transactions, reduced fees, global accessibility, and increased security, driving the perks behind many of these deals. The rise also comes from a growing understanding of how cryptocurrencies work and the takeover of blockchain technology in various industries, with more real estate platforms integrating cryptocurrencies into their services.

According to Smykalov, cryptocurrencies' efficiencies and function is not only limited to real estate transactions, but even work for alternatives like co-living spaces with the pioneering of live/work options like Selina, short-term rentals, flexible workspaces, real estate investment trusts (REITs), crowdfunding platforms, and others.

Alternative uses for real estate is also a huge trend with people choosing real estate for residential, commercial, and industrial uses. Additionally, some use it for investment purposes or as a source of passive income through rental properties.

As the real estate market turns an eye to ESG and sustainability-focus and smart home technology integration, the rise of remote work has caused demand for flexible and larger work and living spaces, home offices, and more properties in suburban and rural areas. It has also led to a decreased need for large commercial office spaces in urban centers.

Denis says, "Technological advancements have streamlined transactions, improved property searches and enabled virtual property tours, particularly during the pandemic, which also shifted priorities in favor of larger homes, outdoor spaces, and remote work. It has also led to the development of energy-efficient building materials."

Even the way we are moving around has changed. Apps like Blacklane have seen a boom with the rise of alternative modes of transportation, and the company is using carbon-neutral practices. The private car service, driven by chauffeurs are useful options for convenience and personalized experiences. Blacklane reduces traffic congestion and provides more efficient transportation, especially in urban areas.

While the wider cryptocurrency market has been impacted by closures of companies like FTX, Smykalov states that the overall trend of growth in real estate transactions using digital assets has continued, reaffirming that crypto provides more efficient options for those who seek it.

Denis says, "While some experienced adverse effects due to their crypto holdings on FTX, the broader real estate market continues towards adoption of cryptocurrencies for property transactions. As with any financial market, the existence of companies like FTX or Madoff Securities does not deter investors from exploring alternative means of conducting business, including the use of digital currencies in real estate deals."

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