The UAE ranked fourth in the world in the number of real estate available for purchase using cryptocurrencies, according to the ForexExist website, after a new analysis of the global real estate lists that can be purchased with cryptocurrencies with the aim of discovering the largest and most widespread markets for cryptocurrency and average prices.
The Luxembourg-based website, which specializes in providing data and news for forex and stock traders, stated that the majority of real estate available for sale is located in Dubai, which it described as perhaps the most luxurious city on the planet and home to the Burj Khalifa, the tallest skyscraper in the world, and a bunch of the best hotels and luxury shopping areas in the world, describing Dubai is a city that looks to the future and is always trying to outdo itself in terms of size and grandeur.
According to the data obtained by the site from the Crypto Real Estate electronic platform for buying real estate in cryptocurrencies around the world, there are 128 properties in the UAE for sale using cryptocurrencies, according to the Emirati newspaper, Al Bayan.
Spain, Thailand and Portugal occupied the first three places with 289, 227, and 130 properties available for sale using cryptocurrencies, while the site mentioned that buying real estate in cryptocurrencies witnessed a 25% increase in interest last year.
In terms of value, the UAE ranked third in the world at the level of the most expensive real estate, with an average of 95.87 bitcoins per property (1 bitcoin = 87.820 dirhams, according to the price on February 23), while Canada and the United States ranked first and second, with the average property price reaching 248.30 and 112.07. Bitcoin respectively.
Despite the difficulties associated with trying to push through cryptocurrencies, which are a newcomer to the real estate market and their share of total sales is very small, the markets have finally witnessed cryptocurrencies entering the real estate sector, which represents a big step for cryptocurrencies as a viable medium of circulation and value.
