Yuval Ben Haym, regional manager of Remax, a real estate firm that operates worldwide, has announced that the “first” real estate purchase with cryptocurrencies has already occurred in Chile. It was done using bitcoin and took place last year. These types of purchases are also possible in Mexico and Colombia.
Remax Announces ‘First’ Real Estate Transaction With Cryptocurrency in Chile
Chile was the first country to use cryptocurrency for real estate purchases. Yuval Benjamin Haym (research manager at Remax), a multinational real estate firm, made the announcement. Ben Haym explained that the purchase took place in November last year and that the customer was able to secure a parcel of land at Temuco (a southerly city in Chile).
Ben Haym, who expressed optimism regarding the potential use of cryptocurrency and bitcoin as payment options in real-estate transactions, stated that they would be open to considering these types of currencies. He said:
This new payment method will allow you to pay for many properties from now on.
Latam Real Estate and Bitcoin
Chile is one of many Latam nations that have made bitcoin a viable payment method for land and properties. Several similar purchases have already been reported in other countries within the region. An apartment purchased for $12,000 in USDT was the first transaction reported by Venezuela in August.
La Haus (a proptech firm) informed La Haus of the Colombian real-estate transaction it had made earlier this month using bitcoin. Lightning Network was used to buy part of this luxury property in Santa Marta. This same company already had a Mexican sale registered for this type of property, and a Peruvian buyer made remote purchases.
These types of products are expected to increase in popularity over the next few years, according to analysts. Guillermo Torrealba is the General Manager at Buda, which is a regional stock exchange.
This is not unusual. Because Bitcoin is an investment option, we see it as normal.
Nicolas Herrera studies submanager at Toctoc. He also stated that the new restrictions by banks make it more difficult for people to buy a house.
How do you feel about the Chilean first bitcoin-based real estate purchase? Comment below.
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