With an ambition to double the size of the economy in the next decade, Dubai is set towards success. While the UAE is coined as a leading emerging market for foreign direct investment in the Middle East, property investors are considering this as a perfect opportunity to invest in the Dubai real estate market.
On the other hand, Dubai is being supportive of blockchain technology and is a part of the emerging global trend of cryptocurrency. Many sectors are encouraging cryptocurrency in Dubai, and Dubai’s real estate market has also been supportive of crypto. Cryptocurrency has been making headlines in the real estate industry lately, and the credit for this goes to the fact that the UAE is one of the most technologically advanced countries in the world. Dubai alone is leading the way with its Smart City initiative that makes it easier than ever to buy a property with cryptocurrency.
The month of March 2023 has recorded more than 12,000 sales transactions which is a notable increase of 53% from the same month last year. Clearly, indicating the rapid expansion of the real estate market creates a great investment opportunity.
How To Buy Property in Dubai With Cryptocurrency?
To buy a property with cryptocurrency in Dubai, the first thing you need to make sure of is that developers accept payment in cryptocurrency. From here our expert real estate agents will guide you through the process of setting up a contract for the purchase. The next step is to use a wallet-to-wallet transfer for your cryptocurrencies simply.
From being an emerging market to a pro-crypto city Dubai is the perfect destination to invest in real estate using cryptocurrency. Once you have connected with the best real estate company in Dubai, and finalized the property, your dream home, or the best property for investment all that is left is to complete the transaction by paying with cryptocurrency.
Dubai Developer Accepting Cryptocurrency
While crypto is an emerging market and every industry is heading towards this digital era, the first developer to accept cryptocurrency is Damaac Properties, a leading luxury real estate developer in Dubai and UAE.
Advantages of buying a property with cryptocurrency in Dubai
Cryptocurrency is taking the world by storm. With more and more people attracted to this new digital currency designed to work as a medium of exchange crypto transactions have proliferated. Here are the advantages of buying a property with cryptocurrency in Dubai,
- Quick Transactions:
Cryptocurrency transitions can be processed much faster than traditional bank transfers, which can take days or even weeks to complete. This can speed up the process of buying a property, allowing you to move into your new dream home more quickly.
- Global Accessibility:
Cryptocurrency is a decentralized currency, which means that it is not tied to any country or region. Hence, making it a more accessible currency, especially for international transactions.
- No Third-Party Interference:
When buying a property with cryptocurrency in Dubai there are no intermediaries, such as banks or other financial institutions. This means that the transactions can be completed directly between the buyer and seller without any additional parties involved.
With great advantages like global accessibility, faster transactions, and leading developers accepting cryptocurrency, crypto payments are proving to be a great option. With that being said, all crypto transactions must be conducted carefully, with both parties having a complete understanding of the details and legality of the transaction. Cryptocurrency is here to stay in Dubai and the real estate market is embracing the new digital era.
Ready to buy your dream property with cryptocurrency in Dubai? We at Silver Oak Properties with our expert consultants will guide you through the process. Contact us today!