First Bitcoin Homes Sell In The UK

It follows an increasing trend in the last few months for developers to place new homes on the market in the cryptocurrency.

Property developer Go Homes announced the successful sale of the homes yesterday, both have been bought by men in their 20s in the technology industry.

The first is a four-bedroom detached £350,000 family house in Colchester which is still under construction.

The unnamed buyer, a software developer, is understood to be a so-called “Bitcoin miner” who made an early killing on the cryptocurrency and is now converting it into bricks and mortar by buying a new home as an investment property.

He is intending on renting out in bitcoin.

London property developer The Collective became the first firm to allow its tenants to pay their deposits and in bitcoin in September.

It said the move was in response to demand from international customers.

The second property sold by Go Homes  is £595,000 four-bed townhouse in Hertfordshire.

Ed Casson, group sales director of Go Homes, said the buyer became a bitcoin owner through mining and trading in online games.

“This re-writes the rule book and shows there is another way to sell property,” he said.

“This is the first time a domestic property has been sold for Bitcoin in the UK. It’s a bit of history in the making. Selling homes for Bitcoin will become common in the next five years.

“Our industry has largely remained unchanged in terms of innovation in the last 50 years. We are taking an opportunity to embrace this technology.”

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