Buying Bahamas Real Estate with Cryptocurrency
With the launch of a cadre of luxury developments like Aqualina, Goldwynn & One Particular Harbour buyers of all kinds are taking a serious look at Bahamas Real Estate. With it’s close proximity to the North America and Canada buyers find The Bahamas a “no brainer” second home location. In addition The Bahamas idyllic weather and beached makes it the place to be for those looking to escape cold winters.
But in recent times with the constant appreciation of cryptocurrency, 1 OAK CEO Matt Sweeting notes, "there has been considerable interest in buying Bahamas Real Estate via digital currencies. “We are in talks with some big players in the crypto space about Bahamas real estate acquisitions via blockchain”, notes Sweeting.
There are are instances though where a seller will only do business through traditional means and Sweeting and his team have developed strategic partnerships to achieve sales in these instances. “Our private bank partners are extremely bullish on cryptocurrency acquisitions and in these instances where sellers want to transact in cash our banking partners act as intermediaries who deliver cash to luxury property owners” responds Sweeting.
With the continued surge in Cryptocurrency we feel very confident that our prospective deals will come to fruition and that we will sell well in excess of 15 million dollars in blockchain business alone, touts Sweeting when asked about his forecasts about Bahamas Luxury Real Estate and Blockchain.
The first real estate sale of this kind occurred 2017 in Texas for a custom home in Texas, since then real estate sales via cryptocurrency has been happening throughout the US, United Arab Emirates and Europe. A single unit of Bitcoin, the first digital currency in the space, was valued at a mere .8 in 2010, at the time of this article, the same unit today is worth about $44,335.25.
This type of transaction can reduce transaction time and red tape usually associated with international buyer transactions and we see this as the future of billions of dollars in real estate transactions.