Bitcoin Adoption: Turkish Real Estate Company Records Highest Sale Made With BTC

Bitcoin Adoption: Turkish Real Estate Company Records Highest Sale Made With BTC

Antalya Homes, a leading real estate firm in Turkey, announced that the company made a record-breaking sale on one of its properties via Bitcoin payment.

Antalya Homes Receives Payment of $1.25 Million in Bitcoin

According to a press release on Monday (June 15, 2020), Antalya Homes witnessed an increase in real estate property purchases with Bitcoin. Since the start of the COVID-19 pandemic, the firm has had to resort to more innovative means to make property sales.

The Chairman Antalya Homes, Bayram Tekce, revealed that the real estate company made a record-breaking property sale of $1.25 million using Bitcoin. According to Tekce, the sale “was the highest valued property sales ever made by Bitcoin in Turkey.”

Tekce further said that the tour, meeting, and final negotiations of the property were conducted online. The Antalya Homes Chairman added:

“The Covid-19 pandemic is changing the whole life and way of doing business. It is important to keep up with the changing dynamics. Having the innovation as a corporate value, we continue to be the pioneer in the field of PropTech.”  

While the real estate company is adopting innovations and technologies to keep up with the times, this Turkish firm has been supporting the purchase of properties using bitcoin and other cryptocurrencies. 

As reported by BTCManager back in May 2019, the company sold nine properties in 2018 and accepted crypto payments. Although the company majorly accepts BTC payment, some limited altcoins can also serve as payment for homes. They include Bitcoin Cash (BCH), Tether (USDT0, Ethereum (ETH), XRP, Bitcoin Gold (BTG), Litecoin (LTC), and Stellar (XLM). 

The Antalya Homes Chairman also attributes the rise in property purchases with Bitcoin to the recent third BTC halving. According to a statement by Tekce:

“With the effect of the increase in Bitcoin value after halving, investors made capitalization sales that are reflected as an increase in property sales.”

Crypto and Blockchain Technology Reshaping Real Estate Industry

Cryptocurrency and blockchain technology are seeing increased adoption in the real estate industry. Back in November 2019, a sophisticated beachfront development in The Bahamas stated it was accepting Bitcoin and other cryptocurrencies as payment.

Early in 2020, Propy, a Silicon Valley real estate and title registry startup completed its blockchain registry program in Vermont, which will ensure cheaper and more secure real estate transactions. Also, LIFULL, a Tokyo-based housing, and real estate information firm partnered with Securitize, a digitals securities issuance company to establish a blockchain-based real estate crowdfunding platform.

Anthonia Isichei

A graduate of English, She stumbled on cryptocurrency while trying to proofread an article for a friend back in 2011, and since then, She has been hooked! She loves to play word games and tennis.