Why do we keep talking about foreign buyers? How many of them are out there anyway? Are the potential numbers of the international buyers worth your efforts and money to market to them?
USA
Let’s start with the USA property sales to international investors as the stats are readily available from the National Association of Realtors for the recent years:
In 2011 the foreigners purchased properties in the USA for $66 billion;
In 2012 – for $82 billion;
In 2013 – for $68 billion;
In 2014 – for $92 billion;
In 2015 – for $92 billion;
In 2016 – for $104 billion.
In 2017 – for $153 billion dollars (each year sales are calculated from April of the previous year to March of the recent year).
Some other interesting data concern the average purchase price that international buyers paid vs. all buyers of properties in the USA:
In 2011 – $316,000 vs. $218,000
In 2012 – $405,000 vs. $212,000
In 2013 – $354,000 vs. $228,000
In 2014 – $396,000 vs. $247,000
In 2015 – $500,000 vs. $256,000
In 2016 – $277,000 vs. $223,000
In 2017 – $302,000 vs. $236,000
Thus we can see that the foreign buyers in the USA are inclined to pay higher real estate prices (and by the way, more often than not they pay cash, no mortgages).
Cyprus
We can also find online the official data of the Department of Lands and Survey of Cyprus on the share of international property buyers vs. all real estate sales in Cyprus:
2011 – 23.5%
2012 – 23.5%
2013 – 27%
2014 – 26%
2015 – 27%
2016 – 26%
2017 – 28%
Cyprus is a small resort-oriented country and it is quite understandable that many foreigners from countries with not so nice climate are coming here for vacation homes.
The above two examples show us the significance of the real estate foreign buyers in big and small countries alike.
Happy blog reading,
Olga Kellen,
The Amazon Author
International Marketing Consultant and English-Russian Translator
Copyright © 2017 by Olga Kellen
All Rights Reserved
Secrets of Selling Real Estate to Foreign Buyers 