A new site in Melbourne’s East Ringwood area has been secured to build six new townhouses, which will be sold using cryptocurrency.
Melbourne-based real estate trading platform Tycoon Global is driving the new project, has settled the purchase of the site for $6.5 million, which is near the Eastland Shopping Centre.
Each unit built will have four bedrooms, two garages and will be between 180 to 250 square meters. They will be sold for the asking price of $750,000 – $1 million USD, and can be purchased using the Tycoon’s own cryptocurrency, Tycoon Coin Token (TCT).
The new project will be launched this month, June 2019, with sales of the properties beginning in July 2019.
Tycoon Global is not the only real estate Blockchain platform that is operating and selling properties by use of cryptocurrency in Australia.
A US-based platform that offers you the opportunity to buy and sell properties using both fiat currency and cryptocurrencies, such as Ripple and Bitcoin, named Propy, sells residential properties and land in both Sydney and Melbourne.
By using the Blockchain technology and cryptocurrency-enables residential sales has opened up the market to foreign buyers, particularly the Chinese, who are currently restricted by China’s capital transfer controls.
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