Turkish Real Estate Agency Sells 9 Houses for BTC 1

Turkish real estate agency Antalya Homes has sold nine properties to date using bitcoin core, mostly to foreign buyers. The houses cost a minimum of €30,000 each (~$33,900) said the agency, which also accepts bitcoin cash, ethereum, stellar, ripple, litecoin and tether.

Also read: Nordea Bank Faces Allegations of Laundering Russian Millions

‘Crypto Purchases of Property Are Reliable and Faster’

Antalya Homes chairman Bayram Tekce said cryptocurrency purchases of real estate come with multiple advantages. “Payment with cryptocurrency enables a more reliable and faster transaction performance such as money transfer between bank accounts without any exchange loss,” Tekce was quoted in the online daily Business Standard as saying on Mar. 5.

Turkey has continued to see a boom in both cryptocurrency use and in its property sector, driven by strong demand from foreign nationals. In 2018, investors from abroad bought 40,000 properties in Turkey, an increase of more than 80 percent from a year earlier. Foreign buyers target homes in Istanbul, the Antalya region and other coastal and scenic areas.

Turkish Real Estate Agency Sells 9 Houses for BTC

Tekce, whose company started taking cryptocurrencies last year, said Antalya Homes has created a “Pay with Bitcoin” button on its website to assist those who intend to buy property this way. The company chairman did not clarify how payment in BTC was made.

“It is very profitable to purchase real estate for those who want to utilize their cryptocurrency investments in the real estate sector,” he said. “By making investments particularly in countries like Turkey, where housing is becoming increasingly valuable, investors can shift their investment to a less risky and safer area, and multiply their savings.”

Growing Use

Bitcoin’s acceptance as a means of payment has grown steadily over the years. The cryptocurrency is already used in many industries including automotive, travel and informatics and has now penetrated the Turkish real estate sector, even though agents in other countries were already selling property using crypto.

In 2017, Southeby’s International Realty sold one of its first single-family homes in Austin, Texas using BTC. The Austin home was sold when Bitcoin prices were $3,429 in September of that year.

Turkish Real Estate Agency Sells 9 Houses for BTC

Canter Companies, a full-service investment firm specializing in real estate and asset management projects, also listed two multi-million dollar homes for sale in BTC in 2017. The homes were collectively valued at around $20 million, while another realtor put up for sale a 27-acre piece of land in Silicon Valley, payable in BTC, ETH or XRP.

What do you think about the use of cryptocurrency to purchase property? Let us know in the comments section below.


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Tags in this story
Antalya Homes, Bitcoin, bitcoin cash, Cryptocurrency, Ethereum, Homes, litecoin, N-Featured, property, Real estate, Ripple, Stellar, Tether, Turkey
Turkish Real Estate Agency Sells 9 Houses for BTC 2
Jeffrey Gogo

Jeffrey Gogo is an award winning financial journalist based in Harare, Zimbabwe. A former deputy business editor with the Zimbabwe Herald, the country’s biggest daily, Gogo has more than 15 years of wide-ranging experience covering Zimbabwe’s financial markets, economy and company news. He first encountered bitcoin in 2014, and began covering cryptocurrency markets in 2017

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin24,272 1.42 % 5.98 % 6.17 %
Ethereum1,881.1 1.33 % 11.71 % 16.02 %
Tether0.9969 0.43 % 0.34 % 0.45 %
BNB331.97 0.66 % 2.88 % 11.22 %
USD Coin0.9991 0.06 % 0.14 % 0.30 %
XRP0.3846 0.36 % 4.44 % 4.00 %
Cardano0.5439 0.02 % 6.18 % 8.20 %
Binance USD0.9997 0.13 % 0.30 % 0.33 %
Solana42.12 0.56 % 2.22 % 3.81 %
Polkadot9.570 0.48 % 10.07 % 19.36 %

bitcoin
Bitcoin (BTC) $ 24,068.00
ethereum
Ethereum (ETH) $ 1,875.98
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 332.03
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.383913
cardano
Cardano (ADA) $ 0.546154
binance-usd
Binance USD (BUSD) $ 1.00
solana
Solana (SOL) $ 42.71
polkadot
Polkadot (DOT) $ 9.53