Where Do Americans Buy Overseas Property?
Americans are today among the biggest buyers of overseas property. The US economy is stronger than ever and the dollar is the world’s most stable currency. 1 USD equals 0.91 EUR currently, which shows that the dollar has really appreciated against the Euro over the past couple of years.
Although there’s a bitter presidential race on in the US, once the new U.S. President is elected, we expect the dust to settle and things to simply take off from there. The US economy is set for a massive boom, according to experts and this is good news for you if you’re trying to sell overseas property in 2016 or 2017.
Why? For one, as Americans have more money in the bank, they look to invest at least a part of their money into buying overseas property. Every American has a dream of having an apartment in Paris, the most romantic city in the world, for example. And now, with rising incomes and better job opportunities in the US, they can afford to splurge on holiday homes abroad.
So where do Americans buy overseas property?
Americans love everything about Spain. It’s traditional for many wealthy Americans to go on a vacation to Spain every few years. Many decide to take their love for Spain to the next level by buying a Spanish villa, preferably in Costa del Sol, Marbella or Costa Blanca. An average home in Spain costs $100,000, which is pretty affordable for cash rich Americans.
As said earlier, Americans have a very romantic notion of France. They just adore the beautiful sceneries, the lovely villages, the pristine vineyards, the delightful cuisine and the exquisite wine. The French Riviera is very popular with American buyers, but not as much as Paris. Many young Americans spend at least a year or two in their 20s in Paris. It helps that real estate in France is quite affordable at the moment, because of low mortgage rates and low inflation.
Americans love everything about Italy – the culture, the food, the fashion the people, the pristine villages, and the vibrant cities. Tuscany in Italy is one of the most beautiful places in the world and many wealthy Americans have bought large mansions here for $1 million or more. Rome and Milan are two of the most fashionable cities in the world and hold a lot of attraction too. There are a plenty of bargain properties available in Italy for less than $100,000 as well.
Greece may be in the middle of an economic crisis, but life in Greek Islands such as Mykonos, Crete, Rhodes, Santorini, Kos and Samos has been the same as ever. The Greek Islands have remained insulated from the political and economic crisis that has hit Athens and attract hundreds of thousands of American tourists every year. In fact, over 25 million tourists have visited Greece already in 2016. The American interest in Greek properties remains as strong as ever.
Portugal is another country that has always fascinated Americans. Portugal is one of the safest countries in the world with the lowest crime rate. Americans are drawn in by the lovely beaches, the relaxed lifestyle, the diverse culture and the warm and friendly people. In Portugal, Americans have a preference for the Algarve and Lisbon.
Contact us today to sell overseas property to cash rich buyers from the USA.