How to buy property in Dubai with cryptocurrency?
According to Dmitry Zolotko, many developers allow you to purchase real estate in the emirate with cryptocurrency. However, some developers do not offer such an option, but this is not a problem, since homebuyers can use third companies. The latter organize cryptocurrency transfers from abroad to the UAE for a small commission.
As Aram Grigoryan explaines, this would be a great solution in the secondary market, where the seller and buyer are individuals. The process itself is simple and safe. You only need to transfer the cryptocurrency, then professionals will do the rest. The entire procedure can take up to 12 hours.
If the buyer has no experience of working with cryptocurrencies, real estate agents can recommend trusted partners who specialize in such transactions. In addition, experienced agents have all the necessary information and will be able to explain everything in detail, since cryptocurrency is currently a popular payment method.
Both specialists note that buying a home with cryptocurrency does not have any restrictions. It is only specific conditions including transfer fees that may differ. There are also no restrictions on the amount. Some developers even provide cryptocurrency installment plans.
For transactions in the secondary market, the consent of the owner will be required. If the developer offers payment in cryptocurrency, they can also provide a list of specific platforms where the transaction can be completed. A specialist can provide detailed advice on this issue.
The main advantage of buying real estate with cryptocurrency is speed. Today, bank transfers from some countries can take about a month, while cryptocurrency transfers are made within 10 minutes. This is a significant factor in the real estate market in Dubai, says Dmitry Zolotko.
However, there are no bonuses or any special offers in this case, adds Aram Grigoryan. Since the demand for property is high, it is hard to find any offers with discounts. If the agent can somehow achieve a price reduction, it is only through their personal connections and experience. However, cryptocurrency as a payment method will not play any role in this case.