Ivanka Trump Interview Shows Potential With International Buyers
The Atlanta Journal Constitution ran an interview with Ivanka Trump in the paper recently and this question and answer really popped out at me.
Q: And of those contracts, how many are foreign investors? We’re starting to see a lot foreign investment in the U.S.
A: We’re seeing that in all of our properties.
I think [the reasons are] two-fold: Our Trump brand is known throughout the world. So if a foreign investor is interested in the luxury sector and looking in Atlanta, they’re going to come to our property.
We always have a larger foreign base than is typical in a market, especially here in Atlanta.
And if you’re paying with a Euro, you’re buying at a 50 percent discount. And Atlanta is a less expensive market. So when you compound that with the discount due to the weakness of the dollar, it’s an amazing deal for a foreigner. via ajc.com.
Now I know that few markets will sustain a very strong international marketplace. Easy access by air to Europe and the city offering either something Europe does not have such as sandy beaches would help greatly.
However, if you are selling in these markets and are internet savvy I would work very hard to try to market overseas. Ivanka has a great point that the Europeans are in a position to buy at a huge discount right now. Even if the market drops another 10 percent they will still be eager to buy quality properties as the savings and long term benefit will be amazing.
Here is a hint, if I was selling a condo project in Miami I would invest in a couple of amazing multi lingual concierges and concentrate all of my marketing dollars at Europe. Sell the property as a comfortable winter retreat for the European market. Bet you could make a killing doing so and move some real estate that right now is very stagnant.
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Comment by Premier Estate on 3 December 2007:
I saw Ivanka on Oprah and see does presents herself very well and sound intelligent. I think she has a shot at being the next Trump.
Pingback by Any reason not to focus on high-end… « 4realz.net on 8 December 2007:
[...] December 8, 2007 by Dustin … international buyers at this point in time? [...]
Comment by Kristal Kraft on 8 December 2007:
Ivanka’s comments are wise indeed. The U.S. Dollar is so weak against the Euro, now is the time to market. Of course Europeans buying here would be thrilled at the value they can get at this time.
Comment by Gigi on 31 December 2007:
How does one begin to market in Europe for residential real estate?