Apartments in Turkey Available for Purchase Using Bitcoin
The owner of the MiaVita Beytepe project in Ankara, Turkey, has announced that its luxury apartments are available for purchase using bitcoin. The apartments are expected to comprise the first real estate transactions to be made using cryptocurrency in Turkey.
Luxury Apartments in Turkey Are Available for Purchase Using Bitcoin in an Attempt to Capitalize Upon a Growing Interest in Cryptocurrency From Turkish Investors
The luxury apartments have been realized by the Turkish company Anadolu Akaryakıt ve Ticaret Ltd. Sti, who has named the 114 apartment development the ‘MiaVita Beytepe’ project.
Erdal Daldaban, the “Project Management Firm owner”, has enthusiastically described the foray of MiaVita Beytepe’s into digital currency, emphasizing the growing interest in bitcoin being generated among Turkish investors. “We decided to make sales via Bitcoin, which has recently attracted the attention of Turkish investors with its recent value route, considering that we could also attract the attention of our customers who appreciate their investments like this”, adding that “digital money has become an element that can no longer be ignored for the global economy. The most remarkable progress in these digital currencies was the fact that BitCoin provided technical infrastructure stability and awareness, and the Turkish investor was rightly interested.”
Daldaban has sought to assure potential investors, stating that “bitcoin is independent of monetary policies that control conventional currencies and acts on its own channel as it is not tied to any Central Bank.”
Turkey’s Banking Regulation and Supervision Agency Issued a Statement in 2013 Which Is Seen to Have Confirmed the Legality of Bitcoin
The 2013 release concludes that bitcoin is not considered to be electronic money according to Turkish legislation, “and thus its surveillance and supervision are not possible within the frame of the law.”
Although Turkey has not updated its official position regarding bitcoin since 2013, Turkey’s Banking Regulation and Supervision Agency announced that it would seek to “prevent the use of alternative spending methods, such as bitcoin, ethereum, and ripple, for illegal gambling activities” as part of an initiative designed to crackdown on black market gambling. During August of last year, Turkey’s sole bitcoin exchange, BTCturk, announced that it would cease operations due to its inability to find a banking partner – suggesting that despite bitcoin’s legal status within Turkey, domestic financial institutions are hesitant to partner with cryptocurrency businesses.
The MiaVita Beytepe project joins a number of up-market properties that have been listed for sale in exchange for bitcoins in recent months. During last week, a home in Austin, Texas was sold in exchange for bitcoin. A London home was also listed for sale with a minimum asking price of 500 bitcoins last week. At the start of the month, Michelle Mone and Douglas Barrowman announced plans to sell 1,133 Dubai apartments in exchange for bitcoin, in partnership with Bitpay and Knox Group, with the 40-storey tower apartments set to become the first properties in Dubai’s Science part to be priced and sold in exchange for a cryptocurrency settlement. This year has also seen two properties situated in the Canadian city of Coquitlam listed on Hong Kong’s Craigslist in exchange for sums of bitcoin, despite cryptocurrency existing outside of Canadian finance and property regulations.
Would you consider purchasing or selling property in exchange for bitcoin or other cryptocurrencies? Share your thoughts in the comments section below!
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Author: Samuel Haig