The Cost of Property in Bitcoin Around the World

This report analyzes the cost of real estate across various cities and regions, shown in Bitcoin (BTC). It compares property prices in both luxury and affordable cities worldwide, highlighting the differences between continents like Europe, Asia, and North America. 

We explore how Bitcoin’s value affects property affordability and look at regions that accept Bitcoin for property transactions. Additionally, the report discusses possible changes in property costs if Bitcoin’s value rises. By analyzing the average BTC needed for properties, we aim to provide a clear understanding of the global real estate market’s use of cryptocurrency.

Our Methodology

For this analysis, we used a Bitcoin-to-USD exchange rate of $100,000 per BTC. The average property size is set at 70 square meters, equivalent to a typical two-bedroom apartment.

We based the property prices on average apartment costs from the Numbeo database. To calculate prices in Bitcoin, we divided the property price in USD by $100,000. This approach provides a simple way to estimate how much Bitcoin you need to buy properties worldwide.

Key Findings

1. Asia is the most cost-effective continent for real estate, with average property prices around 2.5 BTC.
2. Hong Kong and Singapore are the most expensive cities, requiring over 19 BTC and 15 BTC, respectively, for a standard property.
3. Cities like Tokyo and Berlin offer mid-range affordability, with properties priced at 4.67 BTC and 4.21 BTC, while Dubai provides a luxury-to-affordability balance at 3.90 BTC.
4. Affordable cities like Hanoi and Kuala Lumpur cost less than 3 BTC.
5. If Bitcoin reaches $150,000, property costs in BTC will be reduced by half.
6. Cities like Dubai, Miami, and parts of Europe now accept Bitcoin for property purchases.

Property Prices in Bitcoin by Continent

In Africa, buyers need just 1 BTC on average to purchase a standard property, making it the most affordable continent. South America follows closely at 1.2 BTC, while Asia offers excellent value at 2.5 BTC per property.

Europe and North America require moderate investments, averaging 4 BTC and 3.5 BTC, respectively. Oceania is the most expensive region, with average property prices reaching 12 BTC, driven by high demand and limited availability.

The Cost of Property in Bitcoin Around the World

Hong Kong has the highest property prices in Bitcoin, requiring 19.15 BTC on average for a standard property. It is followed by Singapore at 15.12 BTC and Switzerland at 11.65 BTC, showcasing the premium cost of living in these luxury markets. South Korea ranks fourth with properties priced at 8.34 BTC, while Luxembourg closes the top five at 7.58 BTC.

Among popular countries, Australia averages 4.73 BTC per property, making it more affordable than other high-end locations. Canada and the United Kingdom offer similar affordability, with properties priced at 4.86 BTC and 4.30 BTC, respectively. Surprisingly, the United States, ranked 39th, is significantly cheaper, requiring just 2.53 BTC per property on average.

This discrepancy highlights how property prices vary even among developed nations. While Hong Kong and Singapore demand nearly 15-20 BTC, the U.S. provides a more economical option for crypto investors.

Top 5 Luxury Cities

Hong Kong is the most expensive city, requiring 19.14 BTC for a standard property. Its limited space and status as a global financial hub drive high prices. 

Singapore follows with 15.12 BTC. Bern ranks third with over 11.65 BTC, reflecting Switzerland’s wealth and stability. Seoul and Luxembourg complete the list, offering luxury properties in economically strong regions.

Top 5 Mid-range Cities

Tokyo is the top mid-range city, requiring approximately 4.66 BTC for property purchases. Berlin, a major tech and cultural hub, follows at 4.21 BTC. 

Dubai, renowned for its luxury lifestyle, balances mid-range affordability at 3.89 BTC. Bangkok offers attractive prices at 2.76 BTC, while Brooklyn provides one of the more affordable entry points in the U.S. real estate market at 2.53 BTC.

Top 5 Affordable Cities

Hanoi tops the affordable list, requiring just over 2 BTC for properties, making it an ideal investment destination in Vietnam. Kuala Lumpur and San Salvador follow closely, with property prices averaging around 1.42 BTC. 

Mumbai’s cost-effectiveness is reflected in its 1.23 BTC requirement, while Rio de Janeiro offers the most affordable option at just over 1 BTC, making Brazil a highly attractive market for crypto investors.

Bitcoin’s Rising Value and Real Estate Purchasing Power

If Bitcoin’s price rises to $150,000, the number of bitcoins needed to buy the same property would decrease. For example, a property costing 10 BTC today (at a lower BTC price) would require only about 5 BTC if Bitcoin’s price increases to $150,000. This rise in Bitcoin’s value could make it easier for BTC holders to purchase real estate, as they would need to spend fewer Bitcoins for the same asset.

Countries Embracing Bitcoin for Real Estate Transactions

Several countries now accept Bitcoin for property purchases. In the United Arab Emirates, particularly in Dubai and Abu Dhabi, developers and real estate agents facilitate Bitcoin transactions, supported by crypto-friendly regulations and a rapidly expanding economy.

Portugal, known for its favorable tax policies, exempts individuals from capital gains taxes on cryptocurrency, boosting crypto-based property transactions, particularly in Lisbon. 

Cities like Miami, Los Angeles, and New York have seen property sales conducted using cryptocurrencies. For example, a luxury Miami penthouse sold for $22.5 million in cryptocurrency in 2022, marking one of the largest blockchain property sales globally. 

As the first country to adopt Bitcoin as legal tender, El Salvador allows its citizens to use Bitcoin for various transactions, including real estate. However, adoption rates remain relatively low, with only 7.5% of the population using Bitcoin for transactions.