HS Property Group has completed a residential property sale using blockchain technology.
The transaction was for the sale of a four-bedroom HMO investment property in Oldham, Greater Manchester, which was developed and marketed by HS Property Group.
The Manchester-based real estate investment and development firm used the clicktopurchase platform to record the exchange.
Guy Horne, director and co-founder of HS Property Group (pictured above), said: “The way we currently transact property is anachronistic, protracted and unreliable.
“Using blockchain technology will be the future of property transactions.
“The speed and transparency it offers will democratise property investment worldwide.
“As a company which prides itself on innovation, we want to offer our global investor network a more straightforward and secure method to purchase residential investments without compromising any legal safeguards.”
HS Property Group – which was founded in 2014 by Guy and David Searle – specialises in developing high-yielding residential investment property.
Neil Singer, CEO at clicktopurchase, added: “Some of the biggest problems the property industry faces [are] the length of time it takes to exchange contracts, along with the lack of certainty.
“Real estate transactions can be complex, but by using clicktopurchase the process is significantly quicker.”