Reportedly, the firm Astra Montenegro Investment Association (AMIA) has been successfully encouraging the use of digital currencies in Budva and has persuaded the neighboring Dukley hotel, Beach Lounge, and Marina to accept BTC. And according to Notary Office and AMIA, three luxury apartments located in Budva, Montenegro sold for 420 BTC (3.2Mn USD) this week.
Three apartments, situated near the coastal area on the Adriatic Sea, have sold in the region of Budva, Montenegro, a country located in Southeastern Europe. The luxury apartments were in a region well known for its tourism. According to AMIA executive Nila Emilfarba and the Notary Office, the living quarters were sold for approximately 420 BTC.
Emilfarba says the sale was the largest so far for the country and the firm has been convincing merchants in Budva to accept digital currencies.
“Our company, unlike many who have doubt in cryptocurrency, is the first in the region that started selling real estate for the cryptocurrencies,” explains the AMIA.
In addition to being able to purchase real estate, Emilfarba and AMIA have also persuaded the Beach Lounge restaurant, Dukley hotel, and the Dukley Marina to accept BTC as well.
The Apartment Sales in Montenegro were closed quickly and witnessed by the Budva Notary Office.
One of the customers was a 25-year old native from France said that the settlement process in the purchase at Montenegro was quicker than conventional residential transactions. The sale was witnessed by the Budva Notary, Pantović’s Law office, and attorneys from Prelević’s Law. After the official papers were signed and the BTC was transmitted, the funds were changed to Euros right away.
Real estate purchases using cryptocurrency has been a very recent development but has been growing in number since early 2017 when digital assets reached all-time price highs. These large transactions have been taking place in all over the world including Miami, Amsterdam, Dubai, and Manhattan.
With the acceptance of cryptocurrency in the real estate market, Montenegro is all set to becoming a friendly region when it comes to the digital asset economy.
