Bitcoin Forum

A developer is selling Condos in Dubai, the cheapest one is for 27 BTC is a Studio. here is the link to the site:

https://astonplazacrypto.com/

But, they do not really sell it for bitcoin, because Bitpay will convert bitcoin into fiat currency and give it to Asto plaza devs.
Through a partnership with Knox Group (http://knoxgroupplc.com/) and the bitcoin payment processor Bitpay (https://en.wikipedia.org/wiki/BitPay), a selection of 1,133 studio, one- and two-bedroom apartments, ready for completion by September 2019 will be sold for bitcoin.
Not in 2017, but have to wait for another 2 years which bitcoin price may reach new ATH. Yes, there is probability bitcoin will go down, but the chance to rise up is bigger obviously.

Currently, studio properties will have a starting price of 33 BTC, and the real estate agency says early investors will get additional benefits. Additionally, packages of interior design services and furniture can also be purchased using bitcoin.
BTC33 today worth over $151,000. How if bitcoin rise to $15,000 in 2019? It's not worth to purchase it right now.

Geniouse idea. But for us, buyers it is really not so cheap to buy an appartment for bitcoin with it's current price, even if 33 BTC look not so much from it's number. But it's profitable for the seller no doubt. Bitcoin has all perspectives to raise higher and this guy is going to take a bath in money this way. I suppose the price for appartments is going to stay fixed even if bitcoin is going to worth 10k $, it is kinda fixed price. I'm wander to hear about the first person who would buy such appartment.

Whoa! That's just around $125k. That developer is kinda gutsy. He's definitely banking on the speculated rise in prices over the years. Can't blame them though. Bitcoin was just around $1k last year, who would have expected it'll hit around $5k a few weeks ago.

I have to agree with you. Looking back on some of my transaction history now, I feel foolish for sending around .01 btc to test out random sites and whatnot. Even though it was just 10$ a while ago, now it's a whole 50$. 5x the price it was before....

I think with these things, bitcoin is a gamble for both sides. The price can rise or fall and someone will be at a loss through this deal.

As an user stated bitpay has already served several such transactions. Dubai already started to accept and develop their own digital currency and recently developed the blockchain for complete logistics management.

But its a start. At least we are witnessing the the beginning of BTC crawling its way to the mainstream market places. I could also envision that BTC can used in auctions of valuable items for collectors. The sellers could be paid directly without the need for a middle man to handle the payment.

Given that there is an upcoming expo 2020 in Dubai where businessmen around the world will meet, this is a good exposure of bitcoin because it can possibly attract more investors. Though the price is given in bitcoin but still there's a fixed value peg in dollars so the amount of bitcoin is changing. The owner of the properties is foreseeing a bright future for the digital currency and having a news such as this, it would make those people apprehensive to invest in bitcoin believe that it is not just a scam currency.

This isn't the first project their were many projects here that allow you to use bitcoins to purchase you house with bitcoin , the reason why it is costly is because it's build on the posh side of dubai. There is many bitcoin related stuffs here i was able to see the bitcoin atm also but couldn't use because it was for the people in that particular business, there also has been a new coin launch here

Regardless of whether it is actually in bitcoin (through transfers to fiat etc.) or whether they think bitcoin will rise in value - this is good exposure for acceptance. I was talking about this article on Reddit and someone mentioned that 'Dubai isn't really mainstream' but this still is a step towards acceptance.

It's a good start for generalisation of bitcoin use. We can see hotels and restaurants accepting bitcoins, but recently the fees are a big issue for at least the payers.

Yup, This is a good start and maybe around a few couple of years this will be the trend in the real state industry. Condos, houses from mid to high end are being offered to be paid in bitcoins. It will also eliminate the need of broker or a middle man. But I don't know about the taxes though, this is one area I'm looking at. Maybe its more complicated it you used bitcoin, maybe I'm wrong.


We all know that Dubai is very rich country so the price whether in bitcoin or fiat will be peanuts for them. They are really bullish about bitcoin and really seeing that bitcoin price will grow exponentially in the future. Its a great move as guess, but let us see how everything turns out.

It depends totally up on your location. It might not be the first one and certainly it is not but at least the people can buy a condo in Dubai by spending their bitcoins. I haven't seen any such offer here in my country. If it is in the Dubai, definitely it will be hell expensive.

Dubai doing great job with bitcoin. Althought it might be way pricey to buy this now, it is a good movement for BTC, something that will help BTC grow with these kind of negotiations. The apartments looks spacey, but again, it looks pricey for the long run.

The price is too much and thinking it will be available from 2 years from now so the price will be more expensive.
Just rather buy a house and lot here in my country than living in foreign country.

That's actually huge. Being able to buy real estate with bitcoin (even though they directly convert it to fiat) is a psychological milestone. Maybe now it's possible people will become more open to bitcoin.

That is a great news that there is a property in dubai that accepts bitcoin as a payment for their property but the only one who can take advantage of this is the early investor who bought bitcoin at a lower price and still hold it or the rich people who bought bitcoin around $1,000 and still hold it until now but for the average people like me who can't afford to have at least 10 bitcoins then it is impossible for me to buy a real estate using bitcoin because it will take a lot of time before i can do that.

Is that cheap in your opinion for a studio apartment? They're just 43.58 Sq. M, which is really tiny. I mean it's enough for 2 people, but you can get a a similar apartment in any of the Europe's capitals for much less than that. My neighbour built a 300m modern house for that price ;D Maybe those oil rich arabs are used to throwing money around, but those apartments are nothing special, really. Not worth the price unless you're buying for the location.

I saw the condo's and it's a wow when it comes to it's interior. It's one of my dream to have my own condo though I have my own house now. Still I want to have it. And do you have any thoughts if they had made a sale already? And it looks like there's only one payment method, bitpay/bitcoin only. But considering the price 27 bitcoin? I've seen it's 30 BTC, I'd rather choose my own bungalow house rather than a condo though it's one of my dream.

All true, my man.  That's not a horrible price for property in Dubai, but I definitely don't want to live there, nor do I have that amount of bitcoin.

The user above is correct.  The seller won't receive bitcoin, but fiat. But it's still a way to buy stuff with crypto, and that's a plus.

We need more people with guts like the ones who have opened this venture. They want to make a lot more money than the actual price of the condos they are selling, I think these guys believe that bitcoin will skyrocket. They share the same belief as me. 30 bitcoins which is the minimum price to buy one there maybe it is a lot in FIAT money now but for people who have been holding bitcoins from a long time, this is a one time opportunity to have their own apartment in one of the world most richest place, Dubai.

This really puts things into perspective. The fact that you can buy a pretty comfy studio in dubai for 27 BTC when not a long time ago you could buy a couple of pizzas for 10,000 BTC it's crazy. And we are still in the early stages. Im sure in 5 to 10 years, 1 BTC will give you one of these studios, maybe even something better.

Im not looking forward selling any BTC anytime soon, including for real state. I would love some real state, but like I said, why do it now when you can buy 1 property for 1 BTC in 2025 or so? just hold.

Wow besides in Dubia which countrys do recieve bitcoin as a payment? why do they considered bitcoin can be payable as money?

I think its more of the realtor being bullish about bitcoin. They consider that by accepting bitcoin as payment, maybe down the line when bitcoin price goes high again, they will somewhat get another profit as 'investment'. I haven't read any country outside of Dubai though, but the good thing about it is that Dubai may set this as a precedence and maybe other big realtors in other country will follow what they have started. But this is a welcoming news for bitcoin. Another good exposure for us.

Well how cool is that, this is what i call modern times. I wonder what are the legal steps, i mean is it public bitcoin in Dubai? Yes, very interesting, i already thinking of a bitcoin island and i'm sure that if someone can do the those guys are the ones. Small joke> if the island is Bitcoin, then the houses will be Satoshi?:)