Once again, there is a noticeable shift in the prime London property space as Knightsbridge Prime Property completes a £45,000 a week rental transaction in partnership with Bitcashier.
Knightsbridge Prime Property (KPP) has taken a step into the future by welcoming Bitcoin transactions for its high-end real estate in London’s most sought after locations. As cryptocurrencies gain popularity globally, KPP is making it easier for forward-thinking sellers, buyer, landlords and tennats to dive into the world of digital currency for property transactions in London.
With 15 years since Bitcoin's inception in 2009, KPP is proving that change can be a good thing. Through partnering with Bitcashier, a cryptocurrency trading platform, this will allow clients to seamlessly trade across multiple exchanges, enabling them to buy or rent a property using Bitcoin.
*Bitcashier are supervised under European Regulatory Requirements by The Central Bank of Lithuania and the Financial Crimes Investigation Service.*
Notably, Knightsbridge Prime Property has recently secured a £45,000 P/W rental in Herbert Cresent through a Bitcoin transaction. This accomplishment has sparked significant interest, particularly as Bitcoin achieves new heights in value worldwide.
Herbert Cresent, pictured, is just around the corner from the popular international retail store Harrods.
For Buyers:
Now, buyers can complete property purchases at KPP with extraordinary speed and simplicity through cryptocurrency transfers. This innovative approach ensures traceability and countability whilst allowing buyers to follow their own philosophy of due diligence. With the pseudonymous nature of crypto wallets, buyers can maintain privacy during transactions, and the flexibility of limitless transactions surpasses traditional bank limits.
Tech entrepreneurs and ultra-high-net-worth individuals in the tech industry are increasingly turning to Bitcoin, and KPP's partnership with Bitcashier caters to this growing market. The move to Bitcoin offers not only compliance benefits but also avoids money laundering and promotes good international buying practices.
A 2022 government survey reveals that around 5 million people in the United Kingdom hold or have held cryptoassets, making cryptocurrencies the most commonly held type. This shift in the market opens up a new chapter for buyers and renters, providing them with an opportunity to enter the property space in a way that aligns with modern trends.
Nik Malygin, Sales Associate at KPP explains, “We are thrilled to announce our partnership with Bitcashier, a pioneering crypto payment processing platform. Our recent rental deal in Knightsbridge, valued at £45,000 per week, was seamlessly facilitated through Bitcashier, marking a new era of convenience and security in luxury real estate transactions.
For Sellers:
Sellers at KPP now have access to a broader pool of potential buyers, particularly those with substantial cryptocurrency holdings worldwide. Cryptocurrency transactions offer faster clearance of funds compared to traditional bank wires, eliminating common transaction delays. Sellers can benefit from premium valuations for their properties, attracting buyers with more fluid purchasing power.
Emma Grubmueller, Social Media Marketing Manager at KPP, went on to say, “It's not just a transaction; it's a revolution in accessibility, transparency, and opportunity, transforming the landscape of real estate marketing and propelling the industry towards a future of boundless innovation and inclusivity.
Serine Mikkelsen, Content Strategy and Digital Marketing at KPP, explains, “This serves as an excellent means of communication for our business, showing our openness to the global community and our enthusiasm to become a leader within the real estate sector.”
Compliance:
KPP is painfully aware of the importance of compliance in London's real estate transactions. Cryptocurrency brings about compliance advantages due to its complete traceability, earning approval from regulatory bodies that uphold good practices. Ensuring London's reputation as an unfavourable ground for international money laundering is a shared priority for all involved parties.
Added Value:
With a total of $2.65 trillion, reflecting a positive change of +2.31% in the past 24 hours as of 7th March 2024, London possesses a substantial capital pool. If managed proactively and responsibly, this capital could potentially contribute significantly to alleviating the United Kingdom's debt, which stands at £2.64 trillion.
*These figures are sourced from the Office of National Statistics.*
By embracing cryptocurrency transactions, KPP sellers can avoid the typical hurdles associated with bank transactions and experience substantial cost savings. Lower fees and faster transactions contribute to a streamlined process that aligns with the ever-changing dynamics of the real estate market.
Knightsbridge Prime Property is London’s fastest-growing Prime Central London agent. Dealing with Luxury Lettings and Sales Properties ranging from high-quality homes priced from £1,500 per week to £100,000 per week and sales properties priced from £2 million up to £200 million. Our specialist team of experts have unparalleled knowledge of every prime London area and covers all London neighbourhoods surrounding Hyde Park and Regent’s Park, selling and letting homes in Knightsbridge London, Mayfair London, Marylebone London, Bayswater London, Lancaster Gate London, Queensway London, Notting Hill London, Kensington London, South Kensington London, Chelsea London, Regent’s Park London and Hyde Park London. Our central office location based in Mayfair makes it easy for our agents to show prospective buyers and tenants around properties at short notice. Knightsbridge Prime Property has one of the largest, most exclusive databases of worldwide high-net-worth individuals with principal clients including CEOs of Global companies, Royal Families, Family Offices and Entrepreneurs. We professionally vet our landlords, tenants, vendors and buyers to ensure we only deal with high-quality and trustworthy people.