• This form of payment has seen remarkable growth in several countries within the region.
• Analysts anticipate this emerging market will expand exponentially in the near future.
• “Its convenience and security to make transactions and investments”, has positioned BTC as the preferred payment option in crypto.

In Colombia, México, Costa Rica, El Salvador, Panamá, Argentina, Brazil and Chile, it is already common for real estate companies to accept payments for the purchase or rental of homes in Bitcoins and other cryptocurrencies.

La Haus is a Mexican and Colombian proptech company that announced Wednesday it would accept Bitcoin for home purchases, real estate investment, and other projects.

This is the first integrated digital method to purchase a Latin American home. Users will have the option to make transactions using both the Lightning network as well the OpenNode cryptocurrency payments processor.

While the sale and purchase of property with BTC in Latin America has been going on since 2014, it isn’t new. What is amazing is the incredible growth this year for the crypto-driven realty sector.

Real estate firms are now accepting investment in Bitcoin to help finance housing projects.

For unbanked buyers, there is an option

La Haus stated that Mexico will soon host the first digitally integrated process in Latin America using cryptocurrency. Kahaal will be the name of a condominium luxury in Playa del Carmen.

The Colombian-born company expanded into Mexico to work on real estate projects.

“has been adopted in Latin America because of its security and convenience to transact and invest, and it allows for the attack on clear problems: inflation and high proportions of unbanked or neglected people.”
said the President and co-founder of La Haus, Rodrigo Sánchez-Ríos in a statement.

Alternatives like Bitcoin can help us to overcome certain obstacles when buying homes in new places with local currency.
He concluded.

This payment option will soon be available for properties with more than 80,000 units. It is aiming to grow the annual sales volume to $1 billion this year.

Another company who is betting on BTC property sales is the Argentine ecommerce MercadoLibre (NASDAQ) with an extensive presence across the region. Last April, the company launched a section for real estate on its digital platform that allows users to buy and sell homes or other property with Bitcoin.

BTC contributed to the reduction of dollar shortages in Argentina as a result of the currency control that was implemented this year by Argentina’s government in an effort to prevent any permanent rises in US dollars.

The new cryptocurrency option is being offered to investors and buyers by real estate companies that saw it as a solution for the currency crisis. This initiative made sure that sales of offices and houses in South America did not drop further.

“Bitcoin (for me) is another way to pay, since one can either send money in the bank or cash. It’s a system that allows you to make money easier and more convenient.
Gabriel Brodsky (CEO of Predial), one of largest real-estate companies in the nation, spoke to the local media, iproup.com

To The Flipside

• In the very near future, cryptocurrencies will be a major revolution in real estate transactions.
• Because digital money offers an investor an easy and reliable way to secure their assets against the global inflation crisis, it opens up new opportunities for the real estate industry.

What are the reasons to care?

• While the cryptocurrency-driven real estate market may still be in its infancy, analysts predict that it will see rapid growth.
• This sector will continue to grow because of its simplicity and rapid operation with cryptocurrency without any financial intermediaries.

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