PHOTO: Marlborough Sounds realtors are offering a house for sale in bitcoin. Photo: Pixabay

Century 21 Real Estate today announced it would be selling a Marlborough Sounds section for bitcoin, the decentralised digital currency which operates without banks and is not yet subject to government regulation.

The sale would be a first for New Zealand but it comes with a catch: the purchaser won’t be able to get a mortgage.

“The value of Bitcoin is fluctuating quite a lot at the moment, so we’re reluctant to put a set bitcoin price on the section,” said Sounds Lifestyle Investments director Joe Lupi.

But let’s just say these last sections are priced at around $200,000 and so the amount of bitcoin required to buy the one we’ve identified would depend on the exchange rate at the time of transaction.”