Spanish real estate agency Idealista plans to sell its first property in Bitcoin as a result of a “second revolution” that is currently happening in the crypto industry.
The apartment can be found in downtown Barcelona (close to the Rambla Catalonia), and those interested must make all the arrangements online, mentioned the company.
The first real estate transaction with Bitcoin in Spain dates back to 2018, but the firm mentions that that was done “the traditional way,” meaning papers were still used as is the standard.
If you are interested in the apartment, you need to pay 3.5 BTC ($181,000 at the current exchange rate).
Naturally, not everything can be done in bitcoin – taxes, registration, and notary, all have to be paid in fiat euros “since everything slows down when it is the turn of the administrations.”
The worlds of real estate and cryptocurrencies have met before – for example, in 2019, a Turkish real estate agency sold nine properties to foreign buyers by using bitcoin core. Bitcoin Cash, Ethereum, Litecoin, Ripple, Stellar, and Tether were also accepted.
Also in 2019, an important real estate group from Australia organized a luxury home auction that had the option of being paid with bitcoin and Binance coin.