As a European property owner selling your house, you have two types of customers. Buyers who already live in the country where your house is located and buyers that are looking to relocate to that country.
As the economy of Europe as a whole is steadily growing, it is becoming a great prospect for those looking to invest in property from outside of Europe. Also let’s not forget an ever stronger market, people relocating within Europe from one country to another. And with new buyers on the horizon comes plenty of opportunity for sellers too. In this article we are looking at why it could pay to widen your net and market to international buyers!
The strength of the foreign market
According to recent statistics, the percentage of foreign buyers is steadily increasing all over Europe. Of course some areas are more popular than others but here are some key details:
- On average 12.1% of properties in capitals and major cities are bought by international buyers. That is 1 out of 8 properties sold!
- On average 2.3% of properties outside of capitals and major cities are bought by international buyers. That is 1 out of 43 properties sold!
Your property may not be in the Spanish Costa Blanca where every second property is bought by a foreign buyer, but you can see the significance of this market from these averages.
The rise of the foreign buyer
With more and more people living, working and retiring abroad, this demand is predicted to continue to rise. People attract their friends and families from their native homes naturally. Now is the time to capitalise on the influx of international immigrants into and within Europe.
Most international buyers are well situated and usually pay in cash. They also more often than not arrive from countries with strong economies.
This means that it is more affordable to them what may be out of the reach of your local buyers. They are also more likely to purchase second or holiday homes where budget is not always the most important factor.
Opening your listings up to a foreign audience that has the funds to afford second homes in your area doesn’t just make good financial sense, it makes the resulting sales potentially more straightforward than those where a chain or mortgage is involved.
Increasing your audience
When you opt to advertise internationally using a portal such as Upbix European Property rather than simply promoting your listings locally and nationally, you are increasing the number of people who are able to see your European home for sale. Put simply, you’re getting more eyes on what you’re trying to sell; more prospective buyers who will see your property. And more eyes means a greater chance of making that sale.
By getting in front of a broader audience you stand to make more sales. Foreign buyers are continuing to show great interest in European homes and we don’t see this changing anytime soon.
It is still crucial to advertise your property locally and nationally, but as you can see, foreign buyers are a market defining force and should be reached accordingly. Especially when your property is located in Europe!