Whether it’s the strength of their local currencies or the appeal of a having a second home in an area with gorgeous weather all year round, many foreign buyers with designs on the luxury international real estate market are eyeing the Palm Springs Valley. As buyers cast a wider net in terms of their desired areas, it makes sense to tap into this growing market when you list your real estate in Rancho Mirage or Indian Wells property.
Many buyers from all over the world, from Canada and Asia to Europe and Russia, have their eye on areas of the Coachella Valley. We’ve seen interest from international clients in everything from equestrian homes in Indio to luxury properties in Rancho Mirage and La Quinta real estate. At present, some of the states that have seen the most foreign interest when it comes to residential properties include Arizona, California, Nevada, Florida, Texas and New York.
One of the upsides of attracting buyers from the luxury international real estate market is that they are typically well-qualified. Few investors are going to make a trip to the states to look at properties if they are not serious. While the closing process is very similar, whether the buyer is foreign or local, research shows that more than half of the buyers from abroad pay cash, compared to the much lower rate of American buyers who do—less than 10 percent.
If you’re interested in attracting a buyer from this burgeoning market, it’s ideal to find a real estate professional who understands the process and knows how to work with foreign buyers and investors. Avoid loud, in-your-face marketing tactics and stage your home in a clean, minimalist manner. Many other regions, such as Europe and Scandinavia, prefer simple, classic designs and may be turned off by cluttered spaces.
Another good tactic is to emphasize the rental income angle, especially in an area like Palm Springs Valley, where real estate properties in Rancho Mirage, Indian Wells and Palm Desert are in high demand. The potential to offset costs can be very appealing to foreign investors.