Dubai is renowned for its luxury real estate, and it was also the first country to sell a property with Bitcoin. The Aston Plaza and Residences were the first developments to accept Bitcoin payments. The project is still under development and is set to be finished in 2019.

Several other properties in the United Arab Emirates are also dealing in Bitcoin. The Star Business Centre accepts crypto as payment for their city office rentals. In addition, Dubai has also created its own digital currency, called emCash. The UAE was in fact the first country to bring out its own cryptocurrency.

Despite several high-profile businesses supporting crypto within Dubai, it has still not taken off extensively within the local housing market. Following a warning from the country's central bank against using cryptocurrency, released last October, many brokers now refuse to accept it. There are calls for greater regulations to be put in place in order to better manage the vastly expanding world of crypto.

According to a recent survey by Bayut.com, 97% of those working in Dubai's real estate market are not currently willing to involve cryptocurrency in their property dealings. In addition, 79% of those surveyed also thought that investing in Bitcoin alone was an unwise and risky investment.