Are you interested in selling overseas property fast? You should know that Germans have become serious buyers in the overseas property market, which was so far dominated by Chinese, Russian and British buyers. In this article, we tell you what you need to know about selling your property abroad to German investors.
Many more Germans are buying overseas property today than at any point in the past. In fact, estate agents in Spain have reported that Germans have replaced Britons as the most dominant buyers of properties here, especially after Brexit.
The Germans have picked up even as British interest in Spanish property has declined because of the uncertainty over the Brexit vote. While Britain seems to be in a state of confusion over the repercussions of Brexit, there are no such hesitations seen in German buyers. They are confident and raring to go.
Richard Spiegel of property firm Kyero remarks, “European buyers have been extraordinarily active in picking up the slack from nervous Brits – but it seems a shame to watch Germans getting first dibs on the sunbeds, while Brits are waiting on Mrs May for the towels.”
Indeed, many Germans find it much cheaper to buy property overseas than at home, given how expensive homes and apartments are in Germany right now. Germans are investing heavily in Spain, Portugal, Greece, Bulgaria, Italy, Portugal and France to name just a few countries.
They are big buyers of properties in Greece. Many Germans have taken advantage of the low cost of properties in Greece right now because of the economic crisis in the country to buy great properties for ridiculously low prices.
Steffen Piermaier, a 35-year-old Bavarian business manager, is a German who recently bought a holiday home in Greece. He explains why he did so in this interview: “It was pretty easy to realize that this was the time to get a good deal in Greece, both on land and on labour to build my dream home.”
“My family thinks I’m crazy,” Piermaier says. “They want to know why I didn’t buy a house in Germany. But, I think it would be crazier to spend more money on a small home outside of Stuttgart than I could on a place overlooking the sea, which I can also use as a rental while I’m working abroad.”
Even in Italy, Germans are among biggest buyers of properties here. They are responsible for over 40 percent of the properties in Italy purchased by foreigners. Britons are second at 18 percent and Russians third at 13 percent.
It is much the same in France. Germans are buying properties like never before in France, especially in Cote d’Azur, although properties here are known to be expensive. They are also big buyers of ski chalets in the French Alps.
Germans are closely involved in the Portuguese property market as well. The Algarve is a huge favourite with German buyers. Turkey, despite the recent political turbulence in that country, remains popular with German property hunters as well.
You should consider hiring an overseas property specialist to help sell your property abroad to German investors ASAP.