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You can now buy real estate in Turkey with Bitcoin

You can now buy real estate in Turkey with Bitcoin

International real estate firm Antalya Homes just recently completed the highest valued real estate sale with Bitcoin and is transforming the way properties are viewed and sold. 

Post-COVID, businesses across the globe are undergoing rapid changes in the way they reached out to their customers and made sales, and real estate is no exception. Traditionally, property investments were associated with endless hours put into physically visiting sites, a truckload of paperwork and approvals before finalizing a deal.

Antalya turns to Bitcoin amid COVID lockdowns

However, the coronavirus lockdowns have forced everyone to rethink their business models and seek help from emerging technologies to keep the sales going, despite the travel restrictions. Thus, Antalya Homes, that piloted virtual real estate sales with TeleProperty is now accepting Bitcoin payments as well, as per Monday’s official announcement.

According to chairman Bayram Tekce, the Bitcoin value has increased exponentially following the halving. Following the rise, the investors made capitalization sales that are now reflected as an increase in property sales.

Referring to a recent virtual property sale, enabled by Bitcoin, Tekce explained that Antalya sold a villa by taking visuals of the house and surroundings using drone cameras. The customers got a near-real life experience of viewing a home virtually. The firm then got the buyer and the seller together virtually and finalized the deal with Bitcoin as the payment mode

The sale was worth well over $1.25 million, the highest ever real estate deal enabled by Bitcoin in Turkey. Thanks to Bitcoin and TeleProperty, all of this took place without anyone having to leave the comfort of their homes. 

Other crypto-powered real estate deals

Previously this year, Germany’s leading financial services company, Black Manta Capital Partners, initiated a real estate token offering worth $12 million in an attempt to bring transparency and security in the real estate market. 

Similarly, last year, a Canadian couple advertised the sale of their house for 27.1 Bitcoin, that’s nearly $240,000. Frustrated with banking regulations and exorbitant bank fees, the couple turned to Bitcoin and met with several interested buyers following the one-of-a-kind property advert. 

Manasee Joshi

Manasee Joshi

An avid reader and an enthusiastic writer, Manasee recently chose to dedicate her time doing freelance writing. A degree in English literature and experiences in Administration, HR, finance, literature, creativity and innovation tucked under her belt, she crafts engaging and compelling content for crypto and blockchain audience.

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