Spanish Real Estate Agency Offers Barcelona Apartment for Sale in Bitcoin – Taxes Must Be Paid in Fiat – News Bitcoin News
A Spanish real estate platform has put its first-ever property for sale for cryptocurrency. The offer is completely online, and whoever wants to buy the apartment in Barcelona must pay in bitcoin.
Anyone interested can pay 3.5 BTC for the property
The apartment is located in central Barcelona – close to Rambla Catalonia – and the interested person should make all arrangements online, the Madrid-based company said.
Although the first real estate transaction carried out in bitcoin in Spain took place in 2018, the company clarified that it was carried out at the time “in the traditional way”.
In fact, they referred to managing all the processes with paperwork 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 press time.
However, the company stressed that the payment of taxes, notary and registration, for the moment, must be done in fiat euros, “since everything slows down when it is the turn of the administrations”.
Crypto and its relationship to the real estate industry
Idealista was acquired by EQT, a global investment group, for $1.6 billion. They also plan to organize partnerships with around 40,000 real estate agents. Also, most of their customers are from Southern Europe.
According to the agency, the companies supporting the technology behind this listing are Inviertis and Kasaz.
The relationship between the crypto and real estate industries is nothing new globally. In 2019, Turkish real estate agency Antalya Homes sold nine properties using the bitcoin core, mostly to foreign buyers. They also accepted bitcoin cash, Ethereum (ETH), stellar (XLM), ripple (XRP), Litecoin (SLD), and tether as payment.
In the same year, a major 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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