Spanish Real Estate Agency Offers an Apartment in Barcelona for Sale in Bitcoin- Taxes Must Be Paid in Fiat – News Bitcoin News

0
54

A Spanish real estate platform 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.

Anyone interested can pay 3.5 BTC for the property

According to an official announcement, Idealista is trying to sell its first property through BTC after a “second revolution” in the crypto industry.

The apartment is in the center of Barcelona – close to Rambla Catalonia – and the interested person should make all the arrangements online, said the Madrid-based company.

Although the first Bitcoin transaction in Spain for real estate took place in 2018, the company made it clear that it was done “the traditional way” at the time.

In fact, they related to handling all of the paperwork and diligences processes offered by a standard real-state agency.

Anyone interested in the apartment can pay approximately 3.5 BTC ($ 181,000 using today’s exchange rate) at the time of going to press.

However, the company pointed out that the payment of taxes, notary and registration must be made in fiat euros at the moment, “as everything slows down when it is administrations’ turn”.

Crypto and its relationship with the real estate industry

Idealista was acquired by EQT, a global investment group, for $ 1.6 billion. They are also planning partnerships with around 40,000 real estate agents. In addition, most of their customers come from southern Europe.

According to the agency, Inviertis and Kasaz are the companies that support the technology behind this listing.

The relationship between the crypto and real estate industries is nothing new around the world. In 2019, the Turkish real estate agency Antalya Homes sold nine Bitcoin-core properties, mainly to foreign buyers. They also accepted Bitcoin cash, Ethereum (ETH), Stern (XLM), Ripple (XRP), Litecoin (LTC), and Tether as payment.

In the same year, a large Australian real estate group held a luxury real estate auction that could be paid for with Bitcoin and Binance Coin (BNB). Over the years, many properties have been bought and sold for Bitcoin (BTC) in a variety of countries around the world.

What do you think of this opportunity to buy a property with Bitcoin these days? Let us know in the comments below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or an invitation to make an offer to buy or sell, or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on the content, goods or services referred to in this article.