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A recent study indicates that Spain is one of the hottest countries when it comes to property deals that can be paid for with cryptocurrency. The report, compiled by Forex Suggest, found that Spain is the country with the most available properties for crypto, followed by Thailand, Portugal and the UAE.
A recent study by Forex Suggest, which investigated which countries had the most properties for sale for cryptocurrency, found that Spain was the hottest destination for crypto real estate investors. The study, which collected properties available in specialized crypto property portals, found that 289 properties were available for purchase with crypto in Spain alone.
The report explains that the properties on offer 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. Next to Spain is Thailand, with 227 properties available, and a popular cryptocurrency haven, Portugal, ranks third with 130 properties available.
The report also found that the country with the most expensive prices of properties available for purchase with crypto 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, which is the cheapest. around the Earth. El Salvador, a country that has adopted bitcoin as legal tender, falls in the middle, with average prices close to 40 bitcoin per property.
The document considers the benefits and problems that transferring a property for crypto can bring to both owners and buyers. Among the main advantages is avoiding the associated costs of transferring and paying with fiat currency, especially if the properties involved are located abroad.
Among the problems described by the report are the low availability of mortgage lenders willing to accept cryptocurrency as a deposit, and the current strict regulations in countries such as the UK, which can add additional paperwork to the process.
The acceptance of crypto for real estate payments has grown steadily, with several platforms opening their doors to list prices in crypto since last year. In August 2021, one of the first reported property sales paid in crypto occurred in Venezuela, when an apartment was sold with Tethers USDT. Similarly, sales in Chile and Colombia were reported to be settled with bitcoin last year.
What do you think about the use of crypto to buy real estate? Tell us in the comments section below.
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