More and more crypto-villas – Maybe the next issue of Stéphane Plaza. Crypto is a new vehicle for exchanging value, whether through its multitude of tokensits standard-bearer Bitcoin (BTC) or innovative concepts that constantly emerge from technology blockchain. We can typically cite the asset tokenization within which we could see the whole of traditional finance tumble down in the next few years. And the real estate market, as we will see, is no exception.
Dream Destinations Top The Crypto Real Estate Rankings
Whether through direct purchase in Bitcoin or tokenization, the real estate market and the crypto world keep getting closer. While Bitcoin is often promoted via the Lightning Network for small daily purchases, it is also increasingly used for larger purchases, even of a completely different dimension. Purchases of houses, even villas rather, which are often exchanged for the trifle of several million dollars.
It is a study carried out by Forexsuggest which highlights the countries of the world where this type of purchase is most frequent. Surprisingly, this is theSpainthere all-round championwith 289 properties for sale. It’s certainly not much, but it’s a first step that demonstrates a still crazy growth perspective for the sector. Our Iberian neighbor is followed by the Thailand (227) and Portugal (130).
THE USA are only seventh and the salvadoralthough having adopted bitcoin as national currency, occupies only the 10th place. Unsurprisingly, France is non-existent in this ranking, with Italy occupying the last position with 6 properties put up for sale.
Unsurprisingly, the top three are made up of very touristic destinations. And these crypto villas are not found anywhere. Alicante or Marbella in Spain. The islands of Phuket and Ko Samui for Thailand. Lisbon and Porto for Portugal. In short, very touristic cities, holiday resorts of great fortunes. Because even in BTC, the prices of these crypto-mansions are, so to speak… high.
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Villas worth a fortune in BTC
THE Canada has few villas (18) whose acquisition can be done in crypto. So, to compensate, these are expensive. Very expensive even. An average price of 248 bitcoinsis around $5.7 million. THE UNITED STATES with 112 bitcoins average price and Emirates (UAE) with 96 bitcoins complete the podium.
Conversely, real estate the cheapest are at Philippines (15.5 bitcoins), at Mexico (23.5 bitcoins) and The Netherlands (26.6 bitcoins). We will agree all the same that it remains a sum.
But why are some owners leaning on the crypto solution to sell their pretty villas? With such prices, they surely have a very good reason to do so.
On the one hand, it’s a good way to stand out andattract the attention of wealthy crypto-investors. Indeed, to target a crypto-savvy audience, accepting payments in Bitcoin is more than advisable. On the other hand, with a crypto payment, no intermediary banking payable, so no fees. In addition, the payment is almost instant and transparent. Something to reassure both parties with such amounts at stake.
However, in many countries, this type of transaction is so new that the regulations are difficult to follow… and greatly complicate the matter. However, avoiding banking turpitude to instead suffer a string of administrative setbacks could put off more than one investor. And the complexity of these procedures varies enormously from one country to another. The foray of crypto into real estate is still very recent, but no doubt it will grow as the ever-increasing adoption of populations.
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