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Spain According to Study — A Hotbed for Cryptocurrency Real Estate Deals

A recent study shows that Spain is one of the hottest countries in terms of real estate deals to deal with cryptocurrency can be paid. The from forex Suggest report found that Spain is the country with the most real estate available for crypto, followed by Thailand, Portugal and the United Arab Emirates.

Spain ranks first among countries with properties for sale for crypto

A recent study by Forex Suggest, which looked at which countries had the most cryptocurrency properties for sale, found that Spain is the hottest destination for crypto property investors. The study, which aggregated the properties available on specialized crypto property portals, found that 289 properties were offered for sale with crypto in Spain alone.
The report explains that the properties on offer are mainly in the cities of Alicante and Marbella, with more urban properties in the city of Barcelona.
This number puts the country at the top of all other nations with a sizable number. Second to Spain is Thailand with 227 properties available, and a popular cryptocurrency haven, Portugal, ranks third with 130 properties available.
Also, the report noted that the country with the most expensive prices for real estate to buy with crypto was Canada, averaging nearly 250 Bitcoin per property, while properties in the Philippines have an average price of just over 15 bitcoins, which is the cheapest around the world. El Salvador, a country that has adopted bitcoin as legal tender, sits in the middle with average prices of nearly 40 bitcoins per property.

real estate and crypto

The document assesses the benefits and issues that transferring a property for crypto could pose for both owners and buyers. One of the main advantages is avoiding the associated costs of transferring and paying with fiat currency, especially when the properties in question are located abroad.
Issues outlined in the report include the low availability of mortgage lenders willing to accept cryptocurrency as a deposit and the current tight regulatory framework in countries like the UK, which could bring additional paperwork to the process.
Crypto adoption for real estate payments has been growing steadily, with multiple platforms opening the doors to listing prices in crypto since last year. In August 2021, one of the first reported property sales paid for in crypto took place in Venezuela, as an apartment using tethers USDT was sold. Likewise, sales in Chile and Colombia were reported to have been settled with bitcoin last year.
What are your thoughts on using crypto to buy real estate? Tell us in the comment section below.

Spain According to Study — A Hotbed for Cryptocurrency Real Estate Deals, Crypto Trading News

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game and entered the cryptosphere when the price surge took place in December 2017. He has a computer engineer background, lives in Venezuela and is socially affected by the cryptocurrency boom. He offers a different take on crypto’s success and how it’s helping those who are unbanked and underserved.

photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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