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Probably totally off as remote work is a very small % of all the work done globally.

Furthermore, there are significant barriers getting into the kind of remote work that pays significantly more than local work: language and culture, legal considerations, the skills to find remote jobs and, particularly in less developed countries, having education that would allow you to develop globally marketable skills.

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To counter that: only a very small % of real estate is on the market at any given time, but the sales made set the "value" of all other real estate.

Still, unless the deal volume is really low, I doubt that's what driving the price growth.

Capital is much more fungible and flexible than labor. Foreign capital inflows, particularly speculative, can do a lot more to drive up the prices for locals than a handful of remote workers.

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