Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method
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Sources from the Real Estate World report that interest in these instruments has grown 400% since November, with people buying houses without even setting foot here. In addition, several people use crypto as a payment method.
Spain and Europe’s real estate market has been growing since last year due to rising inflation costs and war, which have changed some of their predictions about a recovery. Since November 2021, interest in real estate has grown by 400%, with many investors looking to buy properties without even seeing them.
Investors have even taken funds from other investments considered riskier, such as stocks and cryptocurrencies, to take refuge in the properties market. Rebeca Pérez, a founder and CEO of Inviertis, which enables users to invest in rented properties in Spain, gave her take on the real estate market.
She stated: “The Russian military invasion of Ukraine caused investors to withdraw all their assets from the stock market and invest in real estate, a situation that has worsened since the invasion of Ukraine.”
This kind of transaction with cryptocurrencies still faces obstacles that need to be simplified. Due to their volatile nature, these include the calculation of taxes associated with the acquisition and setting the price in bitcoin or another cryptocurrency. A very common practice in Latam, where several properties have already been sold for crypto, and are more commonly accepted as payment methods.
What do you think of the real estate boom in Spain and its relationship to crypto? You can write a comment below.