In general, we often say “foreign buyers” or “international buyers”, but in reality: Who are they? Where do they come from? What language(s) do they speak? Are they British, French, German, Chinese or Russian? How to approach them taking into consideration their cultural differences and languages? Where to look for them?
Answers to these practical questions will essentially influence the effectiveness of your actual international real estate marketing and sales, thus first of all you have to know – whom to target with your real estate marketing, who are your potential international buyers, or what is your potential buyer’s portrait so to speak. For each country, area and type of a property for sale there will be a particular group of real estate international buyers, and first of all you should do a specific research to find out exactly who they are.
Let’s look at Hungary, a small Eastern European country, to realize what kind of information a property seller (realtor, developer) there should research if he is interested in international sales of his Hungarian property.
Googling the topic of the real estate foreign buyers for properties in Hungary (in English, for simplicity of this discussion), you easily find an article of The Budapest Beacon, an online news publication committed to fact-based reporting about what is really happening in Hungary: Chinese and Russian nationals top the list of foreign purchasers of Hungarian real estate.
It’s recent (reports the data for 2016) and rather comprehensive (with exact numbers of properties sold to one or the other country nationals). The article reveals:
– 38% of all Hungarian properties (homes and apartments) sold to foreigners last year, were purchased by the Chinese, and the most popular destination for them is Budapest, the capital of the country;
– 14% went to the Russian buyers who prefer the Lake Balaton resort area and also Budapest, the capital;
– 7% of the foreign buyers were the Ukrainians with the preference in the area not far from the border between Ukraine and Hungary;
– Buyers from “other countries” made up the rest of the purchases, according to this article. (The article refers to some government data in Hungarian, and if you knew the language you definitely could go to the source for more details.)
Probably you might investigate the matter further if needed in your real situation if you were a real estate seller (realtor, developer) from Hungary, but in case that your Hungarian home or apartment for sale is in one of the areas mentioned, now you know what is good for you to do to sell it internationally: Market in Chinese or Russian (people in Ukraine speak Russian as well).
This little exercise described above shows how you should act as a real estate seller (realtor, developer) to find out what groups of the foreign buyers are the most promising for your international property sales.
Happy blog reading,
Copyright © 2017 by Olga Kellen
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