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Apartment Sold With Bitcoin in Batumi

An apartment was sold for Bitcoin in Batumi. GeoLine company has assisted a Russian citizen to perform the transaction and find a required apartment. The company opened its office in Batumi a month ago.

The company’s managing director in Georgia Diana Gudinenko told BM.Ge that the price of an apartment in BitCoins made up 50 000 USD. The apartment was sold by a citizen of Kazakhstan.

Their website enables to buy apartment by BitCoins, where the clients must indicate the form of payment along with space and location of an apartment, she said.

The company representative noted that the apartment buyer is engaged in cryptocurrency industry and he was surprised seeing it was possible to buy an apartment by cryptocurrency, she said.

There are a lot of people from Belarus, United Arab Emirates (UAE) and other countries wishing to buy apartments by BitCoin, the GeoLine representative said.

“Serious interest is recorded from Belarus. They want to make investments in Georgia, but complicated transaction procedures in Belarus hamper them. The same problems exist in UAE. For making money transactions UAE citizens have to answer such questions as: why do you make investments in other country, not in your own country? And everything is simple in case of cryptocurrencies: nobody controls them, therefore, this simplifies procedures and commission fees are not paid to commercial banks”, Diana Gudinenko said. ‘

There is northing illegal to sell apartments in cryptocurrencies and this is an ordinary transaction.

Our company has offices in Israel, Poland, Belarus and so on. In Georgia we operate only in Batumi, but we plan to open an office in Tbilisi too, Diana Gudinenko said.