Are you planning to sell your overseas property fast in 2018? Regardless of whether you want to sell or buy overseas property online, it would certainly help to know the trends in the international property market in 2018.
A lot has happened in the world over the last couple of years. We have had Brexit, the Trump presidency, Macron’s win in France, the rise of the Chinese rich, and so many things. How does this affect the overseas property market?
Trend #1: The property market now has competition.
The stock markets and bond markets across the world did fairly well in 2017. The market sentiment in equities was by and large positive, with the Dow Jones Industrial Average reaching record highs almost every week. The same was seen in stock markets of emerging nations such as India, China and Brazil.
So as of 2018, investing in the overseas property market is just one of the many great options available to high net worth individuals. This means you will basically have to work harder to sell your overseas property, hire the right overseas property specialists who have the ability and technical knowhow to market it in the right places.
Trend #2: The growing gap between the pound and the euro.
One remembers how, back in 2015, the pound was valued at 1.5 Euro. That was when the British economy was booming, confidence was high and Britons were the biggest buyers of overseas properties. That has changed since Brexit, as the gap between the pound and the euro continues to fall. The pound is currently valued at 1.13 euro.
What does this mean for British expats who were so much involved in the overseas property market? Well, it means that Britons are still buying properties abroad, but they are just as likely to be sellers as they are buyers. This is a big change from before.
Trend #3: Hope vs. Uncertainty in the European Union.
There were two events that happened over the last couple of years in the EU, one that was destabilising and another that brought hope and stability. Brexit was obviously the destabilising event which at one point looked like it would lead to the break of the European Union itself.
But that was soon followed by the victory of Emanuel Macron in the French Presidential election over Marion Le Pen. By preferring Macron, who wants France to stay within the EU over Le Pen, who is a EuroSkeptic, the French public had their own referendum over the EU and decided to stay within the European Union.
That was a good result for the overseas property market in Europe, as if there is one thing investors hate, it is political uncertainty. Over the next few months, there will be a crucial general election in Italy and that is likely to set the mood for the property investment in the region. If the nationalist forces represented by the Five Star Movement do well, that could be a negative for the European property market.