Dubai and real estate have become more like inseparable terms in the past few years. From a flexible real estate investment situation for foreigners to profitable options in investment, this city has a lot to offer. With all this, there is one other unique thing about this city’s real estate market that sets it apart from many other global cities- bitcoin investments. Bitcoin Dubai property market scenario has been the talk of the town for the past few years.
Blockchain and the government
In 2017, Dubai became the first “blockchain-powered government” in 2017. From there, a lot has happened in the Bitcoin Dubai segment. Dubai Land Department started accepting real estate trades in Blockchain infrastructure. Bitcoin, the number one cryptocurrency that popularized the concept of Blockchain, is being recognized for transactions in the real estate market.
Buy an apartment with bitcoins
Driven Properties has made it official that it will now deal in properties available for purchase through bitcoins. This means that the residents and potential investors in Dubai can use their pooled cryptocurrency resources to make real estate transactions. Emaar, one of the most credible developers, announced earlier in 2019 about a crypto token that it would be offering. So, it is possible today to buy Dubai property with bitcoin and it has become a trendsetter. Whether it is to buy an apartment or to opt for interior design or renovation projects, a lot is possible today with cryptocurrencies.
Not another fad
The use of cryptocurrencies in real estate has become a trend that is here to stay and not has happened fad. This comes as good news for the bitcoin collectors. Transactions become faster and easily manageable with the use of bitcoins for real estate transactions. Residential real estate purchases become a more practical situation with the advent of bitcoin in Dubai.