So, you want to buy property in Dubai?
If you do, you are probably asking yourself, “Can I buy property in Dubai with bitcoin?” The short response is, “it depends.” It depends on the type of property you want to buy and how much money you have to invest. You see, not all countries or properties available for purchase in Dubai have been created equal.
One of the biggest differences between any property you will find on the Dubai market and that of the United States is that you cannot touch it. It is controlled by a strict Islamic law, which prohibits all forms of payment based on money or credit. This includes all purchases, loans, and interests from international sources. So if you are looking to invest in Dubai real estate, you are going to need to convert some of your assets into either very large cash or very small amounts of money. Since most investments in Dubai are of this form, it is often much easier to do so with the currency in place.
But can you buy property in Dubai with Bitcoins?
That’s the question many are asking these days, and the answer isn’t quite as clear as you might think. While it is true that there are some properties available for purchase that have been purchased using bitcoins, they are certainly not the only ones. It just so happens that those that were purchased using bitcoins have been able to increase their value considerably in the process. This has happened due to the extreme volatility of the value of the currency in the last year, which has dropped by about 50%. However, those who bought property in Dubai using cash might have gotten some of their investment back.
Before you decide to purchase any properties in Dubai with bitcoins, make sure you are investing in properties that will appreciate in value. For instance, if you are interested in purchasing a villa, make sure that you can get it for, at, or around the rate it would be sold for if You were supposed to put it up for sale on the open market. While it might be tempting to invest in Dubai real estate that is a few thousand dollars or more over the course of several years, keep in mind that you will probably have to put up thousands of dollars as an investment in order to get a return on your investment. Therefore, it might be better to purchase smaller properties over time. Many investors have done just that and have made a good profit.
Can I buy property in Dubai with Bitcoins that are below the market value?
It may seem like an obvious question, but there are a few potential scenarios where it may not make sense to purchase properties at current prices. One of those situations includes properties that are considered to be luxury items. In the past, when a commodity was overpriced and people didn’t have the ability to pay for it, the item would be considered to be a luxury item and would therefore be harder to purchase for a lower price than it was. However, in Dubai there are luxury properties available to purchase even when they fall within the lowest priced bracket.
Can I buy property in Dubai with Bitcoins that will appreciate in value?
As you can see from the above example, some of the things that become interesting to consider when thinking about this question, are the types of investments one could make in Dubai real estate. By considering one’s retirement funds, stock portfolios, and other investments that will allow for an investment return, it is possible to purchase properties that will appreciate in value over the long run.