A weatherboard home in Sydney’s western suburbs is set to be the first piece of real estate in Australia purchased in Bitcoin.
The Mount Druitt property has been listed as Bitcoin buyer-friendly by Sky Property Blacktown director Riza Kamerakkas.
He estimates the property – which has garnered above average interest from buyers – will sell for more than $800,000, or 45 Bitcoin, 7 News reported.
A weatherboard home in Sydney’s western suburbs (pictured) is set to be the first piece of real estate in Australia purchased in the cryptocurrency Bitcoin
The Mount Druitt property (pictured) has been listed as Bitcoin buyer-friendly by Sky Property Blacktown director Riza Kamerakkas
The property – which has garnered above average interest from buyers – is estimated to sell for more than $800,000, or 45 Bitcoin
‘We are expecting quite good numbers though. We’re already receiving two to three times more than what we usually get,’ Mr Kamerakkas said.
‘There are a lot of people who have Bitcoin wallets and are silent and no one knows who’s got what, so we might be surprised.’
The decentralised digital currency has enjoyed a steady increase in value since Wednesday, and was trading at more than AUD$18,000 on Saturday night.
But cryptocurrencies are considered highly volatile – with Bitcoin peaking at $25,000, and crashing to $15,800 in the space of two weeks last month.
Nonetheless, Bitcoin buyer homes in Australia are set to take off amid the global craze.
A $1.5million home in Allambie Heights, in Sydney’s north, and a $350,000 home in Junee, west of Canberra, can also be bought with Bitcoin, Daily Telegraph reported.
‘We are expecting quite good numbers though. We’re already receiving two to three times more than what we usually get,’ Mr Kamerakkas said
Cryptocurrencies are considered highly volatile – with Bitcoin (stock image) peaking at $25,000, and crashing to $15,800 in the space of two weeks last month
A $1.5million home in Allambie Heights, in Sydney’s north, and a $350,000 home in Junee, west of Canberra, can also be bought with Bitcoin (stock image)
Jason Horan – who is selling the Allambie Heights property – told the publication that asking for Bitcoin was ‘a bit of a gamble’.
‘But I think you’ve got to be in it to win it,’ he said.
‘With the house, I think it will open it up to more potential buyers like people overseas or people who have Bitcoin but can’t get loans.’
Potential Bitcoin buyers are still faced with a catch, preventing them from purchasing a home entirely with the cryptocurrency.
While buyers can negotiate to buy a home in any currency, stamp duty can only be paid using Australian dollars.