Turkish firm sells holiday homes in Turkey for nine Bitcoin

A Turkish real estate company accepts cryptocurrencies for property – and has homes that cost just nine Bitcoin.

Antalya Homes has sold nine properties via Bitcoin already and expects to sell more as the world increasingly turns towards crypto.

Chairman Bayram Tekce said: “Payment with cryptocurrency enables a more reliable and faster transaction performance without any exchange loss.

“By making investments in countries like Turkey, where housing is becoming increasingly valuable, investors can shift their investment to a less risky area.”

The firm has a special section named ‘Pay with Bitcoin’ on its website for all questions related to purchasing houses with cryptocurrency.

The firm sells homes in Turkey starting from €30,000 (nine BTC).

Property investment

In October 2018, Roy Niederhoffer, President of R.G. Niederhoffer Capital Management, announced he was selling a 10,720-square-foot, 32-foot-wide mansion for Bitcoin. The house, situated in New York, is listed for $15.9 million.

“I’m a big believer in Bitcoin,” he told Bloomberg. “I really am so bullish on it, and I want to own more of it.”

There are many ways that blockchain can change the real estate industry by reducing the risk of fraud, eliminating middlemen, and improving cash flow management.

So far, however, commercial real estate has been a slow adopter of new technologies. But as more investors, contractors, and managers see the opportunities for blockchain in real estate, the whole industry could be disrupted.

Click here for five key ways blockchain is shaking up the industry.