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Australian agent deals in bitcoin to attract Chinese buyers

Posted by: In: Real Estate 28 Mar 2014 Comments: 0 Tags: ,

An Australian real estate agency will accept deposits in bitcoin in a bid to lure in Chinese investors.

Sydney agency Forsyth Real Estate has announced that it will accept bitcoin after forming a partnership with bitcoin payment provider CoinJar.

The 115-year-old company is hoping the decision will appeal to Chinese investors, many of whom are particularly comfortable trading in the virtual currency, it told The Australian.

China has imposed restrictions on its banks trading in bitcoin, but the public are still enthusiastic about virtual currencies. By using sites such as CoinJar, investors can bypass large overseas bank transaction charges, though they will not avoid local taxes.

Forsyth are not the first to start accepting bitcoin to attract the Chinese – last year, a Canadian agent put her own home on the market, allowing bitcoin payments to boost overseas interest.

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Source: OPP



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