A Spanish real estate platform has listed its very first property for cryptocurrency for sale. The offer is completely online, and anyone who wants to buy the apartment in Barcelona must pay in bitcoin.
Anyone interested can pay 3.5 BTC for Property
The apartment is located in central Barcelona – close to the Rambla de Catalunya – and the interested party must make all the arrangements online, the Madrid-based company said.
Although the first bitcoin transaction in Spain for real estate took place in 2018, the company said it was done at the time “in a traditional way”.
In fact, they referred to the management of all processes with documents and due diligence offered by a standard real estate agency.
Anyone interested in the apartment can pay around 3.5 BTC ($ 181,000 using today’s exchange rate) at time of publication.
However, the company stressed that the payment of taxes, notary and registration, for the moment, must be made in fiduciary euros, “since everything slows down when it is the turn of the administrations”.
Crypto and its relationship with the real estate sector
Idealista was acquired by EQT, a global investment group, for $ 1.6 billion. They also plan to partner with around 40,000 real estate agents. In addition, most of their clients come from southern Europe.
According to the agency, the companies supporting the technology behind this list are Inviertis and Kasaz.
The relationship between the crypto and real estate sectors is nothing new on a global scale. In 2019, Turkish real estate agency Antalya Homes sold nine properties using bitcoin core, mostly to overseas buyers. They also accepted bitcoin cash, Ethereum (ETH), stellar (XLM), ripple (XRP), litecoin (SLD), and attach it as a means of payment.
In the same year, a large Australian real estate group held an auction of luxury homes that could be paid for with bitcoins and binance coins (BNB). Many properties have been bought and sold for bitcoin (BTC) in a myriad of countries around the world over the years.
What do you think of this possibility of buying property with bitcoin these days? Let us know in the comments section below.
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