A Colombian real estate platform is now allowing users to purchase properties with Bitcoin. The platform, called La Haus, is promoting bitcoin payments for a new real estate project in Santa Marta, called Natura City. This is an expansion of the platform, which has already established such a service in Mexico.
La Haus to Allow Colombian Citizens to Buy Real Estate With Bitcoin
A Colombian real estate platform, La Haus, is enabling bitcoin investors to buy real estate with the cryptocurrency directly. To kickstart this initiative in the country, the platform is featuring a new housing project in an exclusive part of Santa Marta, called Natura City. The location is less than 200 meters from the Colombian beaches and construction of the complex is estimated for completion by 2025.
La Haus partnered with payment processor OpenNode for this task and allows users to pay for the properties via Lightning Network or on-chain, depending on the needs of the buyer. The buyer can pay 100% in bitcoin, or just pay a portion of the total in BTC, paying the remaining amount via traditional avenues. Each apartment is valued at approximately 2.19 bitcoin or 400 million Colombian Pesos.
Expanding From Mexico
This is not the first time La Haus has been involved with cryptocurrency payments in the sector. Earlier this year, in November, the company started accepting bitcoin payments for a housing development on Playa del Carmen, Mexico. At that time, La Haus stated that its intention was to extend this payment option to all of the properties listed on its platform.
On the evolution of accepting bitcoin payments, La Haus president and co-founder Rodrigo Sanchez-Rios, stated:
We think that Bitcoin will be the reserve currency of the future. At our core, we’re a tech company. It’s natural for us to be pioneers with this technology.
However, the issue of bitcoin as a payment method for real estate companies can be complex due to regulations. In the U.S., bitcoin can be considered property, so that any income or loss resulting from the sale of the asset is subject to capital gains tax. Real estate purchases in crypto continue, however, such as the purchase of an apartment in Venezuela with stablecoin tether.
What do you think about accepting bitcoin payments for real estate acquisition?