According to a study, Spain is a hotbed for cryptocurrency real estate deals

According to a recent study, Spain is one of the most popular nations for real estate deals that can be paid for with cryptocurrency.

According to the Forex Suggest report, Spain has the most crypto-friendly properties, followed by Thailand, Portugal, and the United Arab Emirates.

Spain is the country with the most crypto-friendly properties for sale

Spain was found to be the most popular destination for real estate crypto investors in a recent Forex Suggest study that looked at which countries had the most properties for sale for cryptocurrency. 289 properties were found to be available for purchase with cryptocurrency in Spain alone, according to the study, which compiled listings from specialized crypto real estate portals.

According to the report, the offered properties are primarily situated in the cities of Alicante and Marbella, with more urban properties situated in Barcelona.

By a significant margin, this number places the nation ahead of all other nations. Thailand comes in second place with 227 available properties, followed by Portugal, a well-known haven for cryptocurrency, with 130 available properties.

Also, the report found that Canada had the most expensive properties that could be bought with cryptocurrency, with an average price of almost 250 bitcoin per property. On the other hand, the Philippines had the cheapest properties, with an average price of just over 15 bitcoin. El Salvador, a country that has embraced bitcoin as lawful delicate, falls in the center, with normal costs of nearly 40 bitcoin per property.

Cryptography and real estate

The document evaluates the potential advantages and drawbacks of transferring property for cryptocurrency.

Avoiding the costs of transferring and paying in fiat currency, especially if the properties involved are overseas, is one of the most significant advantages.

• The report mentions several issues, including the lack of mortgage lenders willing to accept cryptocurrency as a deposit and the current stringent regulatory framework in countries like the United Kingdom, which may necessitate more paperwork.
• Since last year, several platforms have made it possible to list prices in cryptocurrencies. As a result, the acceptance of cryptocurrencies for real estate payments has been steadily increasing.
• One of the first crypto-funded real estate transactions was reported in Venezuela in August 2021, when Tether's USDT was used to sell an apartment.
• Similarly to this, sales in Chile and Colombia were said to have been settled with bitcoin last year.