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The overseas property buying and selling trends for 2017 are very interesting. Cash rich overseas buyers from China stand tall in the overseas property market, having made investments of over $32 billion in 2016.
Russians are not far behind, despite the slowdown in the Russian economy. British buyers continue to be big buyers of overseas property, closely followed by buyers from the Middle East, Germany and Scandinavia.
So which are the hottest overseas property markets in the world today? Let’s find out.
Spain remains the hottest overseas property destination in the world. It has been so for a decade and a half now, and is still going strong. An average Spanish property costs £90,000, which is very reasonable for most buyers. The Spanish economy is doing well, and finally we have a stable government in Spain. So if you’re looking to sell your property in Spain online, you shouldn’t find it difficult to get a good price for it.
France remains a very popular overseas popular destination, especially with British buyers. There are over 200,000 Britons who reside in France. There’s also a lot of demand for properties in France from Chinese, Russian and Middle Eastern buyers. Many foreigners have a romantic notion of France, especially of Paris. Cash rich overseas buyers from China, Hong Kong and Singapore, in particular, have bought apartments in some of the best neighbourhoods in Paris. The average price of apartments in Paris is £120,000, while it is £65,000 in the rest France.
Portugal is another popular overseas property destination. Lisbon, the capital of Portugal, is considered to be the safest city in the world. There is a huge demand for properties in the Algarve, which is considered to be the most beautiful region in Portugal, very similar to Costa del Sol in Spain. There is also a lot of demand for the Golden Visa scheme in Portugal, which promises residency permits to wealthy non-EU buyers who buy properties worth 300,000 EUR in the country.
Italy is of course famous for fast cars, fine wine and beautiful people. It is arguably the most fashionable country in the world. There’s a real demand for homes in Italy from cash rich overseas investors. Italy is a beautiful country with stunning landscapes and natural sceneries. Tuscany and Lake Como are the most popular areas in Italy.
Not much needs to be said about the United States. It is the world’s richest and most powerful country. The US is also a popular overseas property hub. Most wealthy Chinese and Middle Eastern buyers look to buy luxury properties in Florida, which is perhaps the most popular state in the US among foreign buyers. California is also quite popular. The demand for apartments in New York is as high as ever.
There are a lot of people who worry deeply about the political scenario in Turkey, especially after the failed military coup. But there is no denying that Turkey is one of the hottest property markets in the world, where home prices have been growing in double digits since 2010.
Contact us today to buy or sell your overseas property in 2017.