All over the world, the real estate industry is taking note of how profitable it is to sell real estate with Bitcoin. For example, leading Turkish real estate agency Antalya Homes reports that it sold nine properties using Bitcoin as payment in 2018.
Buying Real Estate with Bitcoin Allows Buyers to Avoid Transaction Friction Losses
Accepting cryptocurrencies reflects Antalya Homes’ mission of embracing global trends by offering buyers “more flexibility for ease of purchase.” In the press release of March 5, 2019, Bayram Tekce, Chairman of Antalya Homes stated:
Payment with cryptocurrency enables a more reliable and faster transaction performance such as money transfer between bank accounts without any exchange loss. It is very profitable to purchase real estate for those who want to utilize their cryptocurrency investments in the real estate sector.
Antalya Homes accepts Bitcoin (BTC), Ripple (XRP), Bitcoin Cash (BCH), and Ethereum (ETH) as payment for property sales.
Tekce also indicated that — given that the housing market in countries like Turkey continues to increase in value — by using cryptocurrencies, “investors can shift their investment to a less risky and safer area, and multiply their savings.”
The Antalya Homes website explains that, given the volatility of the value of the cryptocurrencies, the exact amount of cryptocurrency required for the payment is calculated using the exact stock exchange value at the time of the payment. Moreover, buyers have the option of paying just a percentage with Bitcoin and the rest with fiat currency.
Antalya Homes Real Estate Inc is now accepting Bitcoin and other cryptocurrencies as payment for property sales in Turkey.💸
— Antalya Homes (@antalyahomes) September 21, 2018
Real Estate Sales in Bitcoin are Increasing in Popularity
Buying property with Bitcoin is becoming trendy all other the world. In addition to Turkey, homes have been purchased using Bitcoin in Dubai, the UK, and in several US states, such as California, Florida, and Delaware.
Even palaces are for sale in Bitcoin. For example, Rick Hilton, Chairman of Hilton and Hyland, offered a Roman mansion, called the Palazzetto, for USD 38 million through a Bitcoin auction.
Indeed, it is now possible to use Bitcoin to buy a home, farm, acreage, or vacation property almost anywhere on the planet. For example, Bitcoin Real Estate offers a site where sellers can showcase their property across the globe. Bitcoin Real Estate says:
We are here to promote the use of Bitcoin for purchasing real estate. You can sell your property, and the buyer pays in Bitcoin digital currency then you receive US Dollars, Euros, etc.
What do you think about using Bitcoin for real estate transactions? Let us know in the comments below!
Images courtesy of Twitter/@Antalyahomes, Shutterstock.