Cryptocurrency is one of the hot topics of discussion in any financial conversation. Whether you are talking about long-term investments or the purchase of tangible assets, paying with cryptocurrency provides a faster and easier option than most other payment methods. The high levels of encryption involved also ensure that each transaction is secure. Real estate has become one of the key areas where crypto payments are in high demand, and there has been significant interest in large global markets such as New York and Dubai.
Jason Hayes, Founder & CEO of Dubai’s based luxury brokerage LuxuryProperty.com , has seen a surge in inquiries related to cryptocurrency over the past year. ‘We market our portfolio of high-end homes to an international client base. Since cryptocurrency has become the ‘it’ word for online transactions, I have had several clients enquire about the possibility of buying property using Bitcoin . The ease of payment and the speed with which the transaction can be processed makes this an especially attractive option for overseas buyers.’
Recently, one of Dubai’s biggest and most prestigious developers, Emaar, announced that it would be accepting payments made with cryptocurrency and Hayes sees this a very welcome move. ‘This announcement underlines Dubai’s status as a truly innovative city. Emaar are without a doubt one of the region’s preeminent developers and this transition towards property purchases via cryptocurrency will in my mind result in significant levels of transactional activity for those of our clients who operate in this digital space.’
With a diverse range of high-end properties on the market, from apartments priced at USD 1 million (AED 3.7 million) to mansions that run as high as USD 27 million (AED 100 million), Dubai is a major player in the luxury real estate market.
Hayes is excited about how cryptocurrencies will shift the market from a buyer’s perspective. ‘Dubai is ever committed to developing technologies and innovations that make every aspect of life in the city seamless. Giving consumers the option to buy physical assets digitally from anywhere in the world will, I believe, help to make Dubai an even more attractive destination for luxury property investment.’
LuxuryProperty.com is Dubai’s Luxury Brokerage, connecting local and international clients to the most exclusive properties in Dubai and across the globe.
A dynamic digital destination, LuxuryProperty.com lists an exclusive portfolio of over $6 billion of on- and off-market properties across the globe. As a brokerage, LuxuryProperty.com specializes in delivering exceptional private client advisory services with an emphasis on professionalism and discretion. The company also offers a bespoke real estate search and acquisition service through its exclusive Private Client Office.
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