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Is there a way to sell your overseas property fast in 2020?
Yes, the fastest way to sell your overseas property in 2020 is to hire an overseas property specialist. More on that later.
But first, let’s understand where we are right now in the overseas property market and where are we headed next.
State of the Overseas Property Market in 2020.
If 2019 was a year of transformation for the global economy, 2020 could well be the year of growth. Already, we have seen property markets in many countries, especially in Europe, take off.
The recent general elections in the UK, where Boris Johnson and his Conservative Party was re-elected with an overwhelming majority, has certainly improved sentiments.
Brexit is now a done deal, there are no ifs or buts about it. Everyone can now let out a big sigh of relief and move on, no matter which side you’re on, Leave or Remain. All that matters is that the uncertainty is gone, the GBP is on the rise once again, and the outlook for the British economy looks very good indeed.
Which means British investors are back in the overseas property market, and many of those who were planning to sell their second home abroad have decided to put off the sale for now.
So, property prices are on the rise across Europe and elsewhere in the overseas property market where Britons have a major presence. This includes France, Spain, Italy, Thailand, Bulgaria, Cyprus, Malta and Portugal.
What about the Chinese and Russians?
Yes, things haven’t been all that great in China last few years. The Chinese economy grew at 6% this year, which is the slowest it’s been at in 30 years.
China struggles with the pro-democracy protests in Hong Kong on one hand and the trade war with a resurgent United States under President Donald Trump on the other.
And now there is the little matter of the deadly coronavirus, because of which many international flights to and out of China have been cancelled.
Regardless, the China Story remains strong and it is only a matter of time before wealthy cash rich Chinese investors get as actively involved in the overseas property market as they did before.
The Russians, meanwhile, are back. They are buying overseas properties literally everywhere. The Russian economy has been improving for a while and there is a renewed confidence among the Russian rich under President Putin.
Nevertheless, it would be a mistake to assume that the overseas property market depends only on buyers from Britain, Russia and China.
There are a number of new players on the scene, such as wealthy Indians, Brazilians, South Africans and Israelis. Arabs continue to play an important role as investors, especially in Turkey. Americans are buying in France, Italy and Spain, while Australians are getting involved as well, buying properties in Thailand.
Also, Scandinavians are heavily involved in the overseas property market, especially in the warm and sunny Mediterranean region: Spain, Portugal, Cyprus, Greece, Malta, etc.
What’s also interesting is we have a number of Venezuelan elites fleeing their home country and buying properties in Spain and Portugal. So, the overseas property market remains strong and things will only get better this year.
How to Sell Your Overseas Property Fast in 2020?
Here are a few quick and easy tips on selling your overseas property quickly in 2020.
#1: Know your buyer.
Ideally you want cash rich overseas investors to bid for your property abroad. But where is your buyer coming from? That depends. If you have a property in Bulgaria, you should reach out to Russian buyers. If your property is in Italy, Americans should be on your target list. If you have a villa in Spain, France or Italy, the Chinese would be interested. Scandinavians too. This information must be factored into your online marketing. For example, if your most likely buyers are from China, it makes sense to promote your property in Chinese social media sites and property portals.
#2: Know your USP.
What’s the unique selling proposition of your overseas property? Why would anyone want to buy it? What are your target buyers looking for? Is it the location? The lifestyle? The weather? Talk about it. Describe your property’s USP in detail. The entire online marketing campaign should be based on that.
#3: Hire an overseas property specialist.
Frankly, local estate agents do not have the ability, credibility or the connections to sell or market properties to wealthy overseas investors from. You must hire an overseas property expert for this, someone with the right connections, who have extensive experience in the overseas property market and who is truly skillful at digital marketing. Contact us to know more.