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Spain is the center for cryptocurrency real estate transactions

By Mas Property

on Mon Mar 20 2023

A recent study carried out by Forex Suggest, which examined which countries have the most properties for sale in cryptocurrencies, discovered that Spain is the most advanced country in the sector. The study, which added properties available in specialized cryptocurrency asset portals, discovered that only in Spain there were 289 properties for purchase as digital assets.

The report explains that the main properties offered are mainly located in the cities of Alicante and Marbella, and that most urban properties are in the city of Barcelona. This number places the country ahead of all other nations by a significant margin. In second place we see Thailand, with 227 properties, and Portugal occupies the third place with 130 available properties.

Furthermore, the report discovered that the country with the most expensive property prices available for purchase with cryptocurrencies was Canada, with an average of about 250 bitcoins per property, while properties in the Philippines had an average price of just over 15 bitcoins , being the cheapest in the world.

The study evaluates the benefits and problems that the transfer of a property by cryptocurrencies can bring both for owners and for buyers. Among the most important benefits is avoiding the costs associated with transfers and payments with fiat currencies, especially if the properties involved are located outside.

Among the problems described by reference is the low availability of mortgage lenders willing to accept cryptocurrencies as a deposit and the current regulatory framework.

Cryptocurrency for real estate payments has been growing steadily, with various platforms opening the doors to list prices on cryptocurrencies since last year.

In August 2021, one of the first reported real estate sales paid in cryptocurrencies occurred in Venezuela, when an apartment was sold using Tether or USDT.

Source: Investing.com, March 2023.

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