The house on 5 Elizabeth St, Fannie Bay. Image: delivered
In what is first considered a territory, a luxury Darwin house for sale is listed for $ 2.85 million – or the equivalent in Bitcoin.
The completely renovated house in 5 Elizabeth St, Fannie Bay, found on the market on Sunday, only a few days after the ‘Jim Beam House’ was mentioned around the corner for $ 10 million.
Seth Chin, sales agent and director of Chin Property Group, said that offering Bitcoin as an accepted form of payment broadened the pool of potential buyers.
“There is a growing number of territorians and Australians who invest in crypto, and it is more widespread than many realize,” he said.
“About one in five Australians has cryptocurrency, with the Australian cryptomarkt with a value of around $ 50 billion to $ 70 billion.”
Mr. Chin said that the legitimacy of cryptocurrencies only increased.
“Since the approval of Bitcoin ETFs in the US in January last year, and with large financial institutions such as BlackRock and Vanguard behind Bitcoin, Crypto has now been firmly established as a real activa class,” he said.
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The house is located on a leafy rich, private block of 1090 m². Image: delivered
The house is a mix of original and modern character. Image: delivered
Architect, builder and seller, Randal Ashford, said he “accepted everything for” Bitcoin as a payment for his house in Fannie Bay.
“(With Bitcoin on the table), sales can be interesting for both national and international buyers who are looking for an opportunity to place their money in bricks and mortar in one of the capitals of Australia,” he said.
Ashford said he was no stranger to cryptocurrency, who had Bitcoin for years.
“I invest a lot in Australia and international, and having Bitcoin gives me that flexibility,” he said.
Mr. Chin said that the asking price of $ 2.85 million for the Fannie Bay property was equal to around 16 bitcoins from Monday.
“For everyone who holds Bitcoin, this represents a great purchase,” he said.
“Bitcoin is currently priced around $ 180,000 AUD per coin.”
Mr. Chin said that if someone had bought 16 Bitcoin in August 2018, they would have paid around $ 150,000 Aud.
“Today the same 16 bitcoin … you could buy a real estate of $ 2.85 million in one of Darwin’s most sought after suburbs.”
The kitchen is completely new. Image: delivered
The three bathrooms of the house are also new. Image: delivered
Mr. Chin said that a Bitcoin transaction could also benefit the seller, because the value of the cryptocurrency had appreciated much faster than the Australian dollar.
“Bitcoin is increasingly seen as digital gold,” he said.
“People don’t use it as a currency, but as a wealth shop.
“Analysts predict that Bitcoin could reach $ 1 million within the next five years.”
The house as 5 Elizabeth St was built in the 1970s and purchased by Mr Ashford in 2023 for $ 1.1 million.
“It was a completely expired ownership with squatters who lived there, graffiti in places and overgrown trees,” he said.
“It was not lived for years when we bought it.”
Ashford said he bought the real estate of 1090 m² for the location and “good, strong bones” with a lot of natural light and ventilation.
“It was an architecturally designed house … and all commercial construction with concrete columns and plates,” he said.
“We found a huge number of precious stones – small architectural characteristics and details – everywhere.
“There was a wall with double bricks and the staircases were liberating from the brick wall.
“There were all curved planters outside and even the way in which the roof ventilated spoke about architectural design.”
Polished concrete floors are downstairs in the area. Image: delivered
There is an easy current between the inside and outside. Image: delivered
Mr Ashford said he was holding the building envelope, but everything else was new, from the roof to the electricity, air conditioning, kitchen and bathrooms.
The house has five bedrooms, three bathrooms, a new swimming pool, solar system with batteries, Sonos Sound System and high -end finishes.
Downstairs there is open life, flows to the entertaining area, while above the living space, there is a balcony and bedrooms.
Ashford said he loved the different zones in the house, which were well suited for family life.
“Downstairs is where the chaos happens and is upstairs where we relax,” he said.
“Downstairs is really industrial, where our children can go crazy without worrying about damaging the house.
“The polished concrete floors mean that the children can ride their bikes, and you could literally all succeed.
“Upstairs we place real American oak floors.
“The children calm down when we go there, and I think that is because of the materials, the finishes and the tones.”
The building is across the street and Fannie Bay stores, and around the corner of East Point RD.
“You get all the sea breeze and you can see the ocean from the balconies, but you also have privacy,” said Mr Ashford.
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