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How to Choose International Markets for Your Property-for-Sale
June 01, 2022
Sometimes it's more profitable for you to tap international markets to sell your real estate: locals do not buy because of their poor economic conditions or your property or location is not really to their taste, etc. Or you can sell to foreigners for more - here's just one example.
Let's say there is a minimum thresh hold cost in your country 250k for a foreigner to purchase a property to obtain a so called "golden visa" (citizenship or residential permit). But your property can only be sold for not more than 230k in the local market.
Of course, a foreigner who is interested in the golden visa won't go below 250k in his offer, so if you price your property 20k higher in some foreign market than you could do locally, and spend a couple of hundreds or even a thousand or two of dollars for marketing over there, you can become richer as a result of selling internationally.
You may ask - why a foreigner would overpay you while there are other properties for 250k? The answer is easy: other properties in your price range do not show up in his internet search in his own language, and even if they do, they do not explain him in their descriptions why and how you can help in obtaining the golden visa for a buyer of just your property (with referrals to the experienced immigration lawyers, for instance, etc.) - that's how you get on top of other properties-for-sale and get a sale!
So, now the most important question is: how to find the best international markets suitable exactly for your property-for-sale?
Many factors play a role here and each case is unique, but here are some general ideas: look for ethnic restaurants and stores in your area and think of marketing to those nations, if there are none, than turn to your local media and search for possible stories and numbers of international sales in your area, also think of discussions with foreigners you might meet at work or socializing locally, etc.
Just one random example of a recent possible direction of international real estate marketing: this May Newsweek published a report "Russian Property Buying Surges in Turkey, NATO's Weak Link".
It states: "According to the Turkish Statistical Institute,
= Russian purchases of Turkish property reached their highest-ever level in April 2022 - the volume of purchases by Russians has nearly tripled year-on-year.
= For the first time in the data, going back to 2015, Russian buyers are the largest group of international buyers of Turkish real estate.
= Russian buyers of Turkish property leapt as a percentage of all buyers from 9.7 percent in March 2022 to 17.7 percent in April 2022."
Need help with your research in Russian? Just feel free to email me.
To your best business success,
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