The original link to this post can be found here:
http://ihavebitcoins.com/post/73497290455/canadian-real-estate-for-sale-in-bitcoin-has-seriousOn the heels of BOND New York Real Estate’s announcement that it will accept bitcoins as payment, another real estate firm has jumped into the fray.
Quantum Properties from Vancouver, Canada has announced it will be accepting bitcoins as well.
“I’ve been looking at bitcoin for quite a while. I like to try to keep up with current trends,” said the company’s CEO, Diane Delves in an interview with Business in Vancouver.
Personally, I believe Diane is really on to something, and I am not just talking about a cheap marketing gimmick. I think she has a real shot at selling a bunch of condos in Greater Vancouver and here is why.
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Diane knows many Chinese people have recently been hit by regulations and changes in the way they buy and sell bitcoins. Though there was panic at first, things have settled down and many have resorted to using BTC-China’s hacked voucher system.
She probably sees an opportunity to help open up another channel for the Chinese to move their bitcoins. In this case they would be moving it into real estate located in democratic Canada as opposed to fiat.
And the Chinese love Canadian real estate!
If you consider Vancouver’s skyrocketing housing prices are currently being blamed on mainland Chinese investors and in some cases they have been buying up to 74% of new homes in certain parts of Vancouver’s West Side .
A mainland Chinese investor or even chinese bitcoin miner that has a significant amount of bitcoin would definitely considering moving some of his or her fortune into a tested asset class proven by many mainland investors before him.
I wouldn’t be surprised if Diane eventually accepts Bitcoin only, as she soon finds out she can’t keep up with demand.
