Bitcoin In Real Estate Catching On As Texas Mansion For Sale Accepts Crypto Payment
There are new sellers at the city of Highland Park for some listed mansions who are ready to take Bitcoin payments in Texas. This current list is another excellent example that is taking place to expand the crypto real estate market; thus this will be able to attract various buyers spread across the world.
But this is not all as various industries have also been expressing some interest with the crypto market, but the investors who are in the real estate world are the ones taking a particularly keen interest in this ever growing market. The use of digital currencies like the use of Bitcoin in the transactions of assets in real estate has been increasing even at the time that the market has hit the rough waters this year.
Coin Center which has been considered as the think tank that is focused on cryptocurrencies, Neeraj Agarwal, a representative from the company says that the use of digital currency is an excellent tool.
It is a useful tool in carrying out transactions on the real estate as it is a safe way in which large amounts of cash can be transferred, plus since there are relatively low fees attracted in each transaction a minimum interference from the middlemen is something to consider.
There Is A Boom In The Crypto Real Estate
It is not so surprising to see that there is an increase in the transaction in cryptocurrencies in the real estate market. From mid-July, there have been a total of about 20 homes that have been bought with the use of bitcoins across the world. The realtor Mr. Stephan Burke strongly believes that 25-30% of the real estate sales around the world will be carried out with the use of cryptocurrencies in the next five years.
The newest listing in real estate where the seller is interested with taking bitcoin payments is currently located in Highland Park, which is in Texas. The house has been designed with a 9,281 square foot which has been listed with about $9,975,000; it also comes with five bedrooms, a swimming pool, 5.3 baths and even an underground climate controlled garage designed with an elevator that gets you to the guest suite.
According to Burke individuals who are using bitcoin in the sell or buy of real estate property are brilliant people in the market who can clearly see the future, and they are moving in the right direction.
There Is A Flurry Of Change Coming For Home Buyers
In September 2017, when the Sotheby's International realty was held, they were able to successfully broker the very first bitcoin sales in the real estate in the United States, and from this, the housing market was immediately changed.
When we go to Spain, there was a real estate company that was able to sell some apartments in Barcelona, just in January with the use of bitcoin. It was also the first time that crypto coins were being used as a legal tender in a transaction in real estate in a European country. A couple located in British Columbia went ahead to say they would take bitcoin in the exchange of a five-bedroom home that they owned in the Vancouver Island.
There is a growing number of agents in the real estate market who have recognized that the digital currencies are changing the market. And many of them strongly think that the transactions used with crypto coins are here to stay. Even various real estate websites such as Open Listings have ensured they have made it easy for investors to be able to plug in search terms like bitcoin on their platform to help find a property that could be purchased in the digital currency.