The real estate sector, as tradition has it, is usually one of those most anchored to the ancient financial dynamics, one in which the wind of change finds it more difficult to sweep away the ancient dictates. Despite this, the disruptive phenomenon of cryptocurrencies has managed to undermine these certainties.
Although it is just starting and the first real estate sale carried out in Italy in digital currency dates back to 2018, things seem to have taken a very specific turn and there are more and more real estate groups that allow the purchase of properties through this payment system.
But how has the Italian real estate market reacted to the cryptocurrency phenomenon and what dynamics have been or are about to start?
Let's find out.
Considering that the first real estate sale in the world carried out using Bitcoins is dated September 2017, specifically in Austin, Texas, it certainly makes us reflect how the Italian market has been able to react in an unexpectedly reactive way even with respect to countries that could enjoy greater opportunities.
As mentioned, in fact, the first sale of a property through cryptocurrencies on Italian soil took place in Turin at the beginning of 2018 and only after a few months there was a similar case in Rome.
The situation is in full flux, but fundamentally it rests on solid foundations. The Barletta real estate group, for example, is the first to be officially open to the possibility of being able to buy a property using cryptocurrencies.
In fact, in Rome, in the San Lorenzo district alone, there are hundreds of apartments under construction or already available for a possible purchase through this method.
Obviously one might think that everything depends on a sort of media fever and the whole operation is only the prologue of a strategic image return, but things are very different.
Browsing through the advertisements of the most accredited and famous real estate portals, in fact, one can ascertain how even private individuals are moving in this direction and by now finding cryptocurrencies as a quietly accepted payment system is no longer a chimera, but a pure and simple attestation of the facts.
Obviously, the questions that arise in this regard are perfectly admissible and concern not only the economic sustainability of a payment system that is particularly subject to fluctuations, but above all its legality and compliance with the law.
Having just illustrated how more and more real estate groups are opening up to this phenomenon, the question itself could also appear obvious and rhetorical, but it is worth shedding some light on this.
From a purely technical point of view, in fact, carrying out a real estate sale through Bitcoin, to quote what is perhaps the best known among digital currencies, is absolutely possible provided, however, that attention is paid to some specific and important factors.
A type of investment particularly felt in Italy, such as that concerning the brick, requires a sort of confirmation first of all moral and then legal considering that cryptocurrencies are a relatively recent financial asset.
From a legal point of view, the situation is perfectly clarified by a specific resolution by the Revenue Agency, specifically n.72 / E of 2 September 2016, which certified the full eligibility to use digital currencies as reasonable and acceptable means of payment.
From a moral point of view, however, it is essential to remember how an agreement between the two parties involved in the sale is absolutely essential, so that it can be successfully finalized.
Furthermore, it is also necessary to take into account the tax aspects that are currently still being studied for this specific modality.
If the foreign market looks with extreme interest at the cryptocurrency phenomenon and seems to have definitively cleared their use also in the real estate sector, is the situation in Italy destined to grow hand in hand or to undergo a drastic turnaround?
Opinions on this matter are innumerable and, as is logical to assume, we are still far from uniformity of judgment. However, there are elements that can be configured as fixed points even by experts in the sector.
Among these, for example, there is the CEO of the well-known Immobiliare.it site, who illustrated in a recent speech how the real estate market, despite being able to hide behind a clear refusal of this new asset, was able to demonstrate a fluid dynamism welcoming a means of payment that certainly has numerous risk factors.
The main risk, needless to say, is represented by the deep fluctuations that afflict altcoins, however refusing to recognize the importance of this phenomenon could be counterproductive in the long run.
So what's the solution? Simply to ensure that national or supranational regulation is instituted as quickly as possible that can help shed light on the matter, clarify all the aspects on which there is still confusion and ensure that the seller and buyer can finalize any purchase in a reliable and above all safe way.