Agents launching "visa businesses" see huge success targeting Russians and Chinese

The youngest speaker at Russian Summit last week told the audience how he’d achieved more than 30 million Euros of sales in the Russian buyer market in less than two years.

A key element to Victor Lekhman’s success with Central Park Prague was the establishment of a service to deal with visa applications and legal paperwork for Russians. The service gave him in edge over this competition and helped build trust with local agents. It also enabled him to cross sell properties to holiday makers and work in partnership with other agents who may otherwise have been his competition.

He’s not alone. Barcelona based Lucas Fox expect to see a boost in sales activity from the launch of a similar scheme helping buyers from the Middle East, Russian and China.

Lucas Fox has established a new company called Residency in Spain to deal with the demand for property from the so-called Golden Visa which allows residency for those investing over €500,000. The strategy appears to be working with enquiry volumes running at thirty per day.

Establishing a visa company is obviously not essential to make sales to Russians and Chinese but it demonstrates the importance of having a trusted partner who speaks the buyers’ first language to deal with contracts, paperwork and financial transfers.

Stimulating the market

Jason Ham, business development director of Lucas Fox believes the new visa rules will have a significant impact on the international market in Spain. “I believe these savvy buyers will eventually help to stimulate the market in the areas of Spain where the quality of property available is high, and in turn encourage developers to tailor new developments with these overseas buyers specifically in mind”, he says.

The full article on Global Edge

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