A recent study indicates that Spain is one of the hottest countries in terms of real estate offers that can be paid with cryptocurrencies. The report, prepared by Forex Suggest, found that Spain is the country with the most properties available for cryptocurrencies, followed by Thailand, Portugal and the United Arab Emirates.
Spain ranks first among countries with properties for sale for cryptocurrencies
a recent study Conducted by Forex Suggest, which examined which countries had the most properties for sale for cryptocurrency, it found that Spain was the most popular destination for cryptocurrency real estate investors. The study, which aggregated properties available on specialized cryptocurrency property portals, found that 289 properties were available to buy with cryptocurrency in Spain alone.
The report explains that the properties offered are mostly located in the cities of Alicante and Marbella, and more urban properties are in the city of Barcelona.
This number puts the country ahead of all other nations by a significant number. Coming in second after Spain is Thailand, with 227 properties available, and Portugal, a popular cryptocurrency haven, comes in third with 130 properties available.
Additionally, the report found that the country with the most expensive prices for properties available to buy with cryptocurrency was Canada, with an average of almost 250 bitcoins per property, while properties in the Philippines have an average price of just over 15 bitcoins, being the cheapest. worldwide. El Salvador, a country that has adopted bitcoin as legal tender, falls in the middle, with average prices approaching 40 bitcoin per property.
Real Estate and Crypto
The document evaluates the benefits and problems that the transfer of a property by cryptography could bring to both owners and buyers. Among the most important benefits is avoiding the costs associated with transferring and paying with fiat currency, especially if the properties involved are located abroad.
Among the issues described by the report are the low availability of mortgage lenders willing to accept cryptocurrency as a deposit and the current strict regulatory framework in countries like the UK, which could add additional paperwork to the process.
The acceptance of cryptocurrencies for real estate payments has been steadily growing, with various platforms opening the doors to quote prices in cryptocurrencies since last year. In August 2021, one of the first reported real estate sales paid for in cryptocurrency occurred in Venezuela, when an apartment was sold using Tether. USDT. Similarly, it was reported that sales in Chile and Colombia were settled with bitcoin last year.
What do you think about the use of cryptocurrencies to buy real estate? Tell us in the comment section below.
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