Since the 2008 crisis, the reactivation of the real estate market has been partially due to the foreign demand. A Caixabank report reveals that in just ten years (2008-2018), home purchases in Spain by people of other nationalities tripled.
Approaching in time, and according to data from the Association of Property Registrars, in the second quarter of 2021, home purchases by foreigners in Spain reached an average of 9.95%. Nevertheless, in the Balearic Islands, the percentage of foreign buyers is almost 30%, while in the Canary Islands, it's around 24% and, in the Valencian Community, it's close to 20%.
What to consider when selling property to foreign buyers
Considering selling a property to foreign buyers, therefore, represents an attractive opportunity. However, it is essential to know how to focus the sale because each profile looks for a specific property type.
The British, Germans and French prefer a coastal area where to enjoy a second home. Chinese, Russians and Latin Americans are mainly looking for habitual residences or investments in large cities.
Therefore, the sales approach must be based on the origin of the potential buyer and on meeting their needs. In some cases, they will look for good communications and services; in others, exclusive homes; many will focus more on the proximity of beaches or leisure areas; and for another group, it is the opportunity to obtain residency.
Steps to sell a property to foreigners
The procedures and documents necessary to sell a property to foreign buyers don't vary from national buyers. However, when it comes to advertising the property, we recommend considering issues that can help attract those looking to acquire a property in Spain.
The key is to list the properties in real estate portals that focus on international users. In this regard, Spainhouses.net is one of the most recognized internationally and also offers numerous advantages to both sellers and buyers, such as a broad portfolio of available properties and in 12 different languages.
The visual presentation is also essential. It is about attracting buyers who, in most cases, are thousands of miles away. Therefore, the ad must get completed with a good number of quality images. And, if possible, it is advisable to rely on virtual visits. That way, potential buyers will truly see the property and decide without a single physical visit.
Not only the images are relevant, but also the description. When selling a house to a foreign buyer, the visual content must be enhanced with information, from the qualities or equipment in luxury homes to the advantages of the location.
Regarding the final procedures, the electronic signature facilitates the reservation and signing of the deposit agreement via the Internet. But that's not the case concerning the formalization of the sale. In that case, the physical presence of the buyer, or an authorized person with power of attorney, is mandatory.
And, whether you desire to sell a property to foreigners or search for a home to buy in Spain, remember that SpainHouses.net is the tool that will help you achieve your dreams.