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In Cyprus, property transactions are gradually moving beyond traditional cash payments. Increasingly, buyers and sellers are turning to cryptocurrencies, a trend that real estate professionals and legal experts say is growing.
In many cases, the option to pay with digital currency is offered after a buyer expresses interest. However, some properties, particularly newly constructed apartments in Limassol, are now advertising upfront that cryptocurrency payments are accepted. Signs reading “bitcoin acceptable” have begun appearing outside these listings, signaling a shift in how transactions are conducted.
When both parties agree to use cryptocurrency, it must be clearly documented in the sales contract. Payments in bitcoin, for instance, can be processed through smart contracts that comply with European Union regulations, ensuring legality and security for both buyers and sellers.
This development reflects a broader openness in the Cypriot property market to alternative forms of payment, blending traditional real estate practices with modern digital finance.
With information from 24news.
