Your Bitcoin For My Parking Slot

The holder of a parking spot in A Coruña in Galicia, Spain; In the latest to seek a Bitcoin (BTC)-powered sale. A tiny section of Spaniards is gradually exploring to shift from fiat in support of crypto for real estate deals.

In a subterrene parking lot under the central Hotel Riazor, space is 12 sqm area; Nacho, the owner, said that he let it go only if he receives a 1 BTC.

Nacho took to Idealista (though the ad is not active now), the nation’s most notable real estate listings portal. He listed the sale price in euros, the only currency admitted on the platform.

But notwithstanding the price tag, which he posted at 18,000 euros (USD 21,700), in the description; he clarified that he would only give up the parking space for 1 BTC. BTC sells for around USD 54,000 – more than double Nacho’s posting price.

Suppose he’s still selling this real estate area. Bitcoin whales hoping to grab a prime piece of A Coruña real estate might be discouraged to read; the sale only imparts the vendor a leasehold. This is rather than full ownership of the parking space. The lot’s permit expires in 2043.

Possibly would-be buyers will be swayed by the high level of security offered in the parking lot. Nacho specified that the space is secured with CCTV cameras and with security staff on standby nearby. There’s an elevator in the vicinity, as well.

parking spot

Conversing to El Español, Nacho stated that he lived in the Netherlands, and a recent sale had inspired him in the country of a house for BTC 21.

But there is a fiat twist: It appears Nacho has not found a way to legally sell his parking space without dragging the euro into proceedings – presumably because the Spanish state does not legally recognize crypto as having any legal or financial value.

He explained,

“I like the world of cryptocurrencies. I learned a bit about and [a crypto sale] is possible. The idea is to agree on a day and a time to finalize the sale.”

On D-day at zero hours, Nacho and the buyer would have to conclude a fiat transaction for the price of bitcoin at that exact moment.

“We would complete the paperwork with a notary. And far as the Treasury is concerned, it would be a normal monetary transaction,” he added.

An unexpected BTC crash could leave Nacho out of pocket, he conceded, concluding:

“If prices sank and a bitcoin was worth [USD 120], I would still have to sell the parking space for that price. I think there has never been a sale of a real estate in A Coruña making use of cryptocurrencies.”

Regrettably, Nacho and his parking space will not make the national history books. The owner of an apartment in central Barcelona became the first ever to post a BTC price on a for-sale property back in February this year.

The nation’s first tokenized property sale saw buyers from as far afield as Latin America buy a stake in a Seville apartment.

Experts have also asserted that meager but increasing property buyers and sellers in the country are forming an interest in crypto-based deals.

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