The adoption of crypto is spreading in the real estate industry in Europe, particularly Spain. Recently, a leading agency in the Canary Islands announced it would accept cryptocurrency payments.
Company praises the decentralized nature of Bitcoin
According to Digital Sevilla, Piso Barato Inmobiliaria, a real estate company based in Tenerife, has activated the feature that allows customers to purchase properties by paying with Bitcoin (BTC).
Despite mentioning the word “cryptocurrencies,” the company mostly talked about BTC during the announcement.
Piso Barato Inmobiliaria argues that a group of experts said Bitcoin would become the “main currency” of exchanges around the world, and the company was therefore interested in digital assets. Future owners of real estate can purchase any property in Tenerife through the real estate agency.
The Tenerife-based agency pointed out:
The development of the experts in the real estate market has been so constant that it is currently possible to buy an apartment in Tenerife with Bitcoin. They affirm that it is a positive contribution to increase the number of potential buyers internationally and to stimulate the sale and purchase of real estate.
In addition, Piso Barato Inmobiliaria praised the fact that Bitcoin payments avoid tampering in the real estate acquisition process. The agency also says that the decentralized nature of cryptocurrencies avoids any government intervention and makes the process go smoothly.
Spanish real estate agencies continue to join the Bitcoin Adoption Bandwagon
The agency’s rollout of crypto payments is part of a strategy to support a growing trend in real estate in the islands, according to the media.
As news.Bitcoin.com reported on February 26th, another Spanish real estate platform, Idealista, has listed its first property for sale for cryptocurrency. The offer is completely online and if you want to buy the apartment in Barcelona you have to pay with Bitcoin.
Although the first real estate transaction with Bitcoin in Spain took place in 2018, at that point the company made it clear that it was done “the traditional way”.
What do you think of the growing crypto adoption in the Spanish real estate industry? Let us know in the comments below.
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