A three-room (two-bedroom) apartment in Braga, Portugal, was purchased entirely with bitcoin, with no conversion to fiat cash, after a new regulation allowing cryptocurrency property transactions. According to local media sources, the transaction represents a first in the country’s real estate sector. Local media in Portugal described the transaction as “a landmark event in the history of the country’s genuine real estate market.”
The new owner paid 3 bitcoins (BTC) for the house, which was worth roughly 110,000 euros at the time. According to the business news website Idealista, the title document was transferred this past Thursday, May 5, to Porto’s Póvoa de Varzim área. Real estate agent Zome, law company Antas da Cunha Ecija, and partners from Switzerland’s Crypto Valley assisted with the transaction. The President of the Portuguese Chamber of Notaries was also present.
According to a new regulation recently established by the Order of Notaries, the organisation that governs notary services in collaboration with the Ministry of Justice, property may now be purchased directly using cryptocurrencies in Portugal. Portugal is making a name for itself in the crypto field because of its zero-tax policy, which has resulted in the establishment of numerous free zones to encourage bitcoin and blockchain development and research.
Prior to making a payment to a vendor, the coins had to be changed to euros. Real estate acquisitions may now be conducted entirely in crypto, with digital currency being traded for property rights.
Damac Buildings, a leading real estate development firm based in Dubai, United Arab Emirates (UAE), also announced on May 4 that Bitcoin and Ethereum will be accepted as payment options for its properties.
 property in Braga, Portugal, was successfully sold with Bitcoin as payment (BTC).){kind=link}