Bitcoin will buy Marlborough Sounds section

Bitcoin will buy Marlborough Sounds section

The last 14 sections have now been released in the picturesque Kaiuma Bay development in the Marlborough Sounds, with the developers selling one of these sections for Bitcoin, enabling the buyer to convert their digital currency into a hard asset.

Set to be possibly New Zealand’s first cryptocurrency property transaction, it is the brainchild of Sounds Lifestyle Investments director Joe Lupi, who also owns Wellington’s Century 21 First Choice Realty which is marketing Kaiuma Bay.

“The value of Bitcoin is fluctuating quite a lot at the moment, so we’re reluctant to put a set Bitcoin price on the section. But let’s just say these last sections are priced at around $200,000 and so the amount of Bitcoin required to buy the one we’ve identified would depend on the exchange rate at the time of transaction.”

Mr Lupi says while you can’t get a mortgage using Bitcoin, buying with the digital currency could appeal to those who may have invested in it when it was worth much less, making a section at Kaiuma Bay even more attractive.

“Kaiuma Bay is already the best value waterfront land in New Zealand, with its boating facility now completed. Someone buying a section using Bitcoin would do particularly well if they’ve had that Bitcoin in their digital wallet for some time.”

Geoff Barnett, National Manager of Century 21 New Zealand, says the uniquely natural Kaiuma Bay waterfront development has already achieved considerable overseas interest particularly from prospective European buyers – helped by Century 21’s unrivalled international marketing reach.
“With one of Kaiuma Bay’s last sections now available using Bitcoin, intrigue and interest will only intensify over this beautiful part of the country,” says Mr Barnett.
To learn more about the development visit: http://www.kaiumabay.co.nz/

To watch a video on Kaiuma Bay: https://www.youtube.com/watch?v=okZVskrIM74&t=4s

ENDS

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