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    Do You Want to Sell Properties in Costa Rica?  Do It with Cryptocurrencies

    Blockchain-based real estate model allows for faster returns on the purchase and sale of properties

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    The traditional way of raising investments for any real estate or selling a property in a short time will be a thing of the past, according to two entrepreneurs who have combined their knowledge in real estate and technology to develop a business model that promises to revolutionize this market segment.

     Catalina Víquez and Kendall Pecou, COO and CEO of the company Portfolio Token, respectively, have successfully worked on the development and promotion of a concept based on the purchase and sale of properties through blockchain, which allows the asset to be segmented into tokens, non-fungible (NFTs) and allow for greater profits in less time.

    Revolutionizing the industry

     “This modality is going to revolutionize the industry for many benefits, among them the increase in liquidity to a business model as ‘square’ as real estate, because a house can cost $100,000 and it can take up to years to sell, while which in this case becomes much more expeditious by being able to sell the NFTs immediately,” explains Pecou.

     Another benefit that this model highlights is the prolonged permanence of the capital value of the property, given that the token is not affected by exchange devaluations or other factors.

    How does a real estate NFT work?

             What is it:NFT (Non-Fungible Token) Real Estate represents the possession of virtual properties using blockchaintechnology.  In this case they represent physical properties.

             Benefits:Access to innovative investment opportunities and diversification of digital assets that can be bought and sold in significantly faster times than a normal property.

             Threats:Regulations still in process and lack of market maturity.

    Tokenization

    Tips for investing in NFT Real Estate:

    Evaluate the reputation of the platform, study market trends and understand the underlying value of the virtual property. “The seller can decide how many NFTs he divides his ownership into, and the greater the number of tokens, the greater the chances of making a profit, but the value of each one may be lower;  or he can divide it into fewer parts,” explains Víquez.

     The executives affirm that the learning curve around this new way of negotiating in real estate is in process, however, they have found openness in a good portion of those who make up this segment, by virtue of which they hope to spread this model to the masses very soon and even offer it in other latitudes.

     “Our intention is to provide the necessary advice to people who wish to invest or sell, explaining the model and its advantages.  In this sense, we have had contact with people who, having mastered blockchain technology, find this way of taking advantage of these platforms very attractive, as well as others who, upon learning about it for the first time, are interested in learning more,” adds the expert.

     This process offers important added values such as eliminating geographical barriers when it comes to the purchase and sale of properties, while allowing the participation of a broader group of investors, improving liquidity, according to NicolásSulima, member of the Costa RicaBlockchainAssociation.

    “Tokenization also makes it possible to assign minor benefits such as amenities and subscriptions, while blockchain technology records each transaction, guaranteeing the transparency and integrity of the data.  In Costa Rica, real estate tokenization is still in an early stage of development,” indicates the manager.

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