By George Ward
Per a recent survey, Spain is fast becoming the leading destination for crypto-powered real estate transactions. According to the media platform, Criptonizando, a recent study was conducted by Forest Suggest, which shows that buyers can purchase most listed properties for sale in Spain with cryptocurrency.
The Real Estate Crypto Sales Point
The study revealed that 289 properties listed for sale in Spain had crypto as a payment option. Furthermore, the report added that the properties are located in Alicante and Marbella, in the southern part of the country, with some reportedly based in Barcelona.
The media outlet noted that this number pushed Spain ahead of other countries by a significant margin in terms of using crypto as payment for physical properties. Moreover, Thailand comes second with 227 physical properties listed for sale with crypto as a payment option.
However, Portugal clinched third place with 130 listed properties that accept crypto payments. According to the study, the average price of a listed real estate property for sale in El Salvador in Bitcoin is 40 BTC ($900,000).
The report added that not just Spain has seen increased crypto adoption, especially in the real estate sector. Some property owners in Germany reveal that they are also willing to accept payment in cryptocurrency.
Spain’s first tokenized real estate, an apartment based in Seville, was reportedly sold to international buyers on the Ethereum network in 2021. Similarly, the owner of Venezuela’s most prized properties reportedly put it on sale last year with payment in digital assets.
Meanwhile, industry observers noted that more young people interested in crypto accept real estate payments in tokens rather than fiats.
Incorporate Crypto Payments And Stabilizing Crypto Prices
With the rise in crypto payment across industries, experts believe that payment processors can help keep the price of digital assets stable by facilitating instant settlements to fiat. Since last year, there has been a rise in digital asset payments with businesses integrating crypto settlement options.
According to a study by Deloitte, companies that incorporate crypto payments can increase their customer base by more than 46%, with a significant competitive advantage over their rivals. The study emphasizes the need for enterprises to add crypto payment options to allow their current and potential customers to perform payment settlements seamlessly.
Moreover, with the global crypto market’s projected valuation of $5 billion by 2030, the Deloitte survey indicates that there will be increased demand for alternative payment options and stablecoins. Meanwhile, experts point to the increased use of stablecoins as the primary reason crypto payment is gaining ground.
With card payment providers like PayPal VISA and Mastercard joining the fray by offering crypto debit cards, consumers’ options are becoming broader. However, skeptics are still doubting the viability of crypto as a means of payment, given its well-known price volatility.