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Spain Leading the Way in Crypto-powered Real Estate Sales Sector – Report

Tim Alper
Last updated: | 1 min read
A computer keyboard featuring a key decorated with the Spanish flag next to a key that reads “real estate.”
Source: xtock/Adobe

Spain has become the center of gravity for the fledgling crypto-powered real estate sector, a new study has found.

Per the media outlet Criptonizando, the study found that 289 properties had been listed for sale in Spain with crypto listed as a payment option.

The report noted that these properties were chiefly located in the southern cities of Alicante and Marbella. But it added that a number were also to be found in Barcelona.

“This number puts [Spain] ahead of all other nations by a significant margin,” the media outlet noted.

Thailand placed second on the list with 227 properties listed for sale in crypto. But there was a further Iberian connection – with Portugal placing in third place with 130 properties.

The survey also found that the average price of a property listed for sale in Bitcoin (BTC) in El Salvador, a nation where BTC has legal tender status, was BTC 40 – around $900,000.

Not Just Spain: Real Estate Vendors Say They Will Accept BTC, ETH Payments has also seen examples of properties currently for sale in nations such as Germany, with posters stating they would accept BTC payment. One house in Thuringia, Germany, was listed on the British platform Rightmove – with the vendor noting that BTC payment would be accepted.

A number of properties are also listed for sale in crypto in Spain via the Idealista property platform. One vendor in Gran Canaria wrote that they would accept payment in BTC or Ethereum (ETH). And a chalet owner in Aragon also advertised their willingness to accept BTC.

Spain’s first piece of tokenized real estate – an apartment in Seville – was sold to international investors on the Ethereum blockchain in 2021.

Last year, the owner of Venezuela’s most valuable house put their property up for sale in crypto. Experts have claimed that some “young people with considerable knowledge of the [crypto] industry” prefer to accept tokens to fiat in real estate deals.