Buying a house with 100% Bitcoin is possible in Portugal

[arwin100]

In Italy, the value must be reported in EURO on the official act, and the payment must be made with a traceable means (no cash, for example).
Then, of course, all the taxes must be paid in euros.

You are right, the same happens in Portugal, the declared value of the goods is in EURO. Regardless of the payment method.

Great to see that being used in Portugal since it provably give an idea to people that they can used bitcoin for this type of deals.

Heard some several deals happen in Philippines by using bitcoin, But didn't see anything happened near my place. It will be so great if bitcoin will be used for this type of deals since this will open up some option for us to use bitcoin directly and escape those things that can give us any hassle.

I just see this site list some asset, but the value written is in USD https://cryptorealestate.cc/property-city/philippines/ but also can't verify if this site is legitimate or not.

[Gentle_Soul]

At the beginning of this month (May 2022), a house was sold in Portugal, in which it was fully paid for with Bitcoin. This was made possible, thanks to a new decree of law that allows crypto exchanges for houses. The house cost 3BTC at the time and it was all done legally.

You can find out more in these news:
EN: https://finbold.com/house-in-portugal-sold-for-3-bitcoins-in-a-historic-first-ever-direct-sale/
PT: https://www.idealista.pt/news/imobiliario/habitacao/2022/05/06/52164-casa-em-braga-e-comprada-por-3-bitcoins-e-a-1a-transacao-100-cripto


But the highlight now goes to the platform created by the real estate company responsible for this sale, where it lists all the properties that can be acquired with Bitcoin.

Cryptohouses

In addition to presenting a series of properties available to buy with Bitcoin, the company still gives full legal support so that everything is done according to the law.


___
NOTE: I have no connection to this property, I'm just sharing the information. I'm from Portugal and I can give you a few more details.

Cryptocurrency is gradually taken over the financial world in due bills and expenditures will be paid in crypto currency especially Bitcoin
Moreover while we await the total transition of transaction in cryptocurrency we should encourage our loved ones to also invest in the world of cryptocurrency

[Nrcewker]

That’s actually possible if Bitcoins are legal in your country. They impose tax on the Bitcoins and are hence able to make profits from the real estate. It’s very hard to buy in countries where Bitcoins aren’t illegal. If you try to attempt, then it will be considered black money. Moreover, the seller also needs to agree by doing this type of deal. But if you ask me, then I would stick to converting the bitcoins into fiat and then buy the house. I don’t want to do catfights with the government.

[LordMiguel]

it is hard to believe that people are still here

[XXKK-Exchange]

That’s actually pretty cool — Portugal seems to be one of the few countries really embracing crypto in real estate. Paying 100% in Bitcoin and having it legally recognized is a big step. I wonder how they handled the price volatility during the transaction though — did they lock the BTC value at signing or at closing?

[tabas]

That’s actually pretty cool — Portugal seems to be one of the few countries really embracing crypto in real estate. Paying 100% in Bitcoin and having it legally recognized is a big step. I wonder how they handled the price volatility during the transaction though — did they lock the BTC value at signing or at closing?

It's possible that they have a third party consignment that guarantees the value won't be volatile after receiving the payment. There's a lot of flexibility on this country to be honest and that's what I am seeing from them. If you're a digital nomad, you can also live there and get that visa for your stay. And if the time comes that we've got some good profits from holding Bitcoin, this can be the next plan that we can do and to purchase some properties there if we can afford to do so. Although the thread was from 2022 and I think it's still in effect.

[joker_josue]

That’s actually pretty cool — Portugal seems to be one of the few countries really embracing crypto in real estate. Paying 100% in Bitcoin and having it legally recognized is a big step. I wonder how they handled the price volatility during the transaction though — did they lock the BTC value at signing or at closing?

It's possible that they have a third party consignment that guarantees the value won't be volatile after receiving the payment. There's a lot of flexibility on this country to be honest and that's what I am seeing from them. If you're a digital nomad, you can also live there and get that visa for your stay. And if the time comes that we've got some good profits from holding Bitcoin, this can be the next plan that we can do and to purchase some properties there if we can afford to do so. Although the thread was from 2022 and I think it's still in effect.

Yes, it's still valid. Here's the link to the real estate agency specializing in this: https://cryptohouses.pt/en


NOTE: I am not an agent for this company, nor do I know anyone there. I am not making any recommendations.

[tabas]

That’s actually pretty cool — Portugal seems to be one of the few countries really embracing crypto in real estate. Paying 100% in Bitcoin and having it legally recognized is a big step. I wonder how they handled the price volatility during the transaction though — did they lock the BTC value at signing or at closing?

It's possible that they have a third party consignment that guarantees the value won't be volatile after receiving the payment. There's a lot of flexibility on this country to be honest and that's what I am seeing from them. If you're a digital nomad, you can also live there and get that visa for your stay. And if the time comes that we've got some good profits from holding Bitcoin, this can be the next plan that we can do and to purchase some properties there if we can afford to do so. Although the thread was from 2022 and I think it's still in effect.

Yes, it's still valid. Here's the link to the real estate agency specializing in this: https://cryptohouses.pt/en


NOTE: I am not an agent for this company, nor do I know anyone there. I am not making any recommendations.

Thanks, it's good to know that they're still in business and have that convenience for those who would like to avail house there using Bitcoin. Looking at the prices of the house that are for sale there, having less than a bitcoin can give you a good home there already. How I wish that I am from the area and it will make my dream come true to own a house from another country. 

[easybits]

Portugal’s case is a great example of something that’s actually possible almost anywhere in the world, not just where a special decree exists.

The key point is that real-estate sales don’t require a “crypto law” — they only require that the final value is expressed in the national fiat currency in the official deed.
How the buyer and seller settle the payment can be anything they mutually agree on, including Bitcoin or any other crypto.

You can buy a house with crypto in the U.S., U.K., EU, Dubai, Turkey, Brazil, Mexico, Thailand, and many more —

Any house in any country can be purchased with crypto, as long as the buyer and seller agree, and the legal documents state the fiat value.

The only real requirements are proper KYC, proof of funds/AML checks, and clear documentation — which are the same requirements whether you pay with bank transfer, gold, or Bitcoin.

[wd50]

Yes, but it's going to be stopped once the digital euro is in place. Remember, BTC is looked at as an external raft and they won't allow that. 

[nesso]

Nice headline but mostly a showcase thing. It’s not like you can buy a house with btc everywhere. In many cases it’s still converted to fiat behind the scenes. Plus bitcoın volatility is a big risk for both sides, so this won’t be common anytime soon.still Portugal being cryptoffriendly explains why many crypto people prefer it.

[lornadane]

At the beginning of this month (May 2022), a house was sold in Portugal, in which it was fully paid for with Bitcoin. This was made possible, thanks to a new decree of law that allows crypto exchanges for houses. The house cost 3BTC at the time and it was all done legally.

You can find out more in these news:
EN: https://finbold.com/house-in-portugal-sold-for-3-bitcoins-in-a-historic-first-ever-direct-sale/
PT: https://www.idealista.pt/news/imobiliario/habitacao/2022/05/06/52164-casa-em-braga-e-comprada-por-3-bitcoins-e-a-1a-transacao-100-cripto


But the highlight now goes to the platform created by the real estate company responsible for this sale, where it lists all the properties that can be acquired with Bitcoin.

Cryptohouses

In addition to presenting a series of properties available to buy with Bitcoin, the company still gives full legal support so that everything is done according to the law.


___
NOTE: I have no connection to this property, I'm just sharing the information. I'm from Portugal and I can give you a few more details.

buying a house with Bitcoin is possible in many different countries. you just have to check with who ever you are buying off of to ensure they take this as a payment method, such as a estate agents or individual persons. remeber not all counties see Bitcoin as a payment method due to the different goverment regulations.

[virasog]

That’s actually possible if Bitcoins are legal in your country. They impose tax on the Bitcoins and are hence able to make profits from the real estate. It’s very hard to buy in countries where Bitcoins aren’t illegal. If you try to attempt, then it will be considered black money. Moreover, the seller also needs to agree by doing this type of deal. But if you ask me, then I would stick to converting the bitcoins into fiat and then buy the house. I don’t want to do catfights with the government.

There are very few places where one can buy houses or other expensive things with bitcoin. You're right that first the bitcoin should be legal in that country so the person selling who will get the bitcoins in return do not face any trouble in coverting those coins into fiat (if he wants). Also the fluctuating price in bitcoin and soon make you richer or more poor.

This is totally opposite of fiat because there the money you get remains same in value (inflation will only effect if you're holding that cash for years and years). Buying in bitcoin has a risk that it can dump sharply anytime and you may feel in loss if the quantity of bitcoin is big.

[joker_josue]

This is totally opposite of fiat because there the money you get remains same in value (inflation will only effect if you're holding that cash for years and years). Buying in bitcoin has a risk that it can dump sharply anytime and you may feel in loss if the quantity of bitcoin is big.

This turns out to be one of the main reasons for Bitcoin to be used less and less as a currency of exchange.

The risk of one side of the business being at a loss, from one minute to the next, is very high, and few want to take that risk.

[GokuSan]

As I also mentioned, it is possible to buy land here by accepting BTC.

[TedMosby]

Buying a house with 100% BTC is possible everywhere. The only problem is legality. However, even with strict laws that disallow it to happen, it will still happen. Just like in my area. I live in Bali, Indonesia. We are not allowed to use anything other than Indonesian Rupiah as a medium of transaction.

Due to the Russia–Ukraine war a few years ago (maybe it’s still happening now, IDK), Indonesia, especially Bali, has been flooded with Russians, Ukrainians, and digital nomads. They have their own circle, transacting with USDT or BTC. They own businesses, some legal, many illegal (including drugs and other serious crimes), and transact with non-Indonesian Rupiah.

We are now really overdeveloped, with villas, beach clubs, and unnecessary infrastructure that harms nature.