Where can you buy Real Estate for cash in EU?

[hatsuri]

With cash being systematically taken out of circulation, in which countries is it still possible to buy Real Estate for cash in the EU?

 

[JohnnyDoe]

hatsuri said:
With cash being systematically taken out of circulation, in which countries is it still possible to buy Real Estate for cash in the EU?
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I think it's possible in Germany. If you want to buy in Italy for cash let me know and we can work a deal.

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[void]

I was told it's still possible in CH, no recent experience though

 

[bigdaddyleon]

Ends in a few days
https://www.gvw.com/en/news/blog/detail/prohibition-on-cash-payments-and-transparency-register

 

[JohnnyDoe]

bigdaddyleon said:
Ends in a few days
https://www.gvw.com/en/news/blog/detail/prohibition-on-cash-payments-and-transparency-register
Click to expand...

I used to buy cars in cash there. Happy to have left the EUSS.

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[Martin Everson]

Convert it to crypto and you may have more options perhaps. KYC still applies however in most cases.

 

[CyprusLawyer101]

I think its a matter of finding the right seller willing to accept cash rather than a jurisdiction per se. For example in Cyprus, you can find a few sellers willing to accept cash, but that doesnt mean that it is a customary thing for everyone to do it.
Also as mentioned if you can convert to crypto, it will increase options.

 

[hatsuri]

Crypto is not considered as legal tender so I do not think it applies to this case.
If cash transactions are prohibited in let's say Spain, and only bank transactions are allowed to buy Real Estate, notary will just not approve the transaction.

 

[Forester]

I can claim this e.g. about some Central European countries – CZ, PL, SK. There you can find a way.

 

[koohl]

You can't pay a house costing 600K euro in cash in Germany any longer. Long time ago it was possible.
Yeah, may be the only countries left.

 

[CyprusLawyer101]

Well in Cyprus it does not go through a Notary, but there is a registration process at the Land Registry, usually handled by a lawyer or two. The payment must not be recorded or controlled as such. Therefore I would say both cash and crypto are possible for such a transaction.

 

[JackAlabama]

Its surprising how much this is still possible, even in Europe. But its not apparent and one needs to dig a little bit.

 

[koohl]

well noted, thanks for the information. We must come to Cyprus to execute such?

 

[CyprusLawyer101]

Not necessarily, it can be handled through a Power of Attorney. But visitng Cyprus will do good for you overall 🙂

 

[hatsuri]

okay, this is interesting, thank you for the information.
Cyprus might be an option then.

 

[Don]

You can do it in Estonia

 

[Forester]

In CZ it is just the same (and in SK too, IIRC).

Yes. Nevertheless, do not overlook that usage of cash for transactions over 10k EUR is generally forbidden across the EU, altough an enforcement varies. So in any case you must find the counterpart who is open to a creative solution.
(I guess that @CyprusLawyer101 might be able to help you in Cyprus; in CZ/SK/PL I might be able to help, too.)

 

[Butcher82]

would getting a car from leasing work for cash in lets say Italy? just an idea.

 

[JosephLL]

Welcome to Montenegro my friend.

 

[JimBeam]

I've read that it's possible in Germany (as they like cash so much):
https://www.dw.com/en/german-real-e...ey-laundering-transparency-reports/a-46637937
Also, it's possible in Serbia as 85% of the real estate purchaches are made in cash:
https://serbia-business.eu/why-are-the-prices-of-real-estate-in-serbia-rising-so-much/but why would anyone want to buy real estate there?