High-end luxury villas in Portugal bought with crypto2 min read

On 18 September 2017, the first house ever to be bought with crypto was purchased in Texas. The Bitcoin was sent to the seller of the property via an online wallet. Recently, 2 luxury villas in Portugal have also been purchased with crypto. The houses are currently being built on the Portuguese island of Madeira and have been sold for a value of 4.1 million euros. It is the first time in Portugal that a property is purchased with crypto.

The developer of these high-end homes is Prometheus International,  which has developed new protocols to boost transactions via digital currencies. Read about their revolutionary BlockChain House and their whitepaper on their website. In particular, these protocols allow the transaction to be handled in euros prior to registration, so that it complies with European legislation.

Villa with jacuzzi, indoor lift and swimming pool

In the case of these sea view villas in Madeira, the method of payment was the Cardano cryptocurrency. The luxury homes are part of a development called AURÔRA, which includes three properties. According to the project’s website, each house has an average area of about 400 m2, with three bedrooms and three bathrooms. Each villa has a swimming pool and a jacuzzi, as well as an outdoor area with a barbecue. The houses have a garage with an indoor lift connecting the three floors.

lux vastgoed

Buy a property with crypto in Spain

Thanks to blockchain technology, it is possible for buyers and sellers to record the purchase and sale of real estate in a secure manner. The buyer and seller must both have sufficient knowledge of the crypto market and the associated risks to be able to conclude a proper agreement.

On platforms such as Idealista and Fotocasa, more and more properties are appearing that can be bought with crypto. But there are still dozens of them, so they are far from being the norm. Several real estate agencies work with crypo in Spain, both for buying and renting. These are: Marca de Kasaz, Re/Max Golden Mile. According to Rebeca Pérez, CEO of proptech Inviertis, it´s is mainly Latin American buyers who are interested in buying properties in Spain with crypto.

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