We’ve recently been discussing all of the foreign buyers who are (or might want to be) scooping down to buy up Chicago downtown condos.
It would make sense, right? For the European investor, our condos are 50% off. For the British investor, it’s an even better deal.
Perhaps, these buyers will help prop up the Chicago condo market and prevent price declines.
My question is: Are any of you agents out there actually seeing any foreign buyers?
Because I’m not seeing any foreign buyers on this site. I use an analytic tracker which tells me the countries that my visitors are coming from. Crib Chatter has been active about 3 months now.
Here is the data from my visitors:
- 4,537 visits from people in the United States
- 23 visits from Canada
- 22 visits from Australia
- 8 visits from the United Kingdom
- 2 visits from Germany
- 2 visits from Japan
- 2 visits from Ireland
More people living in Cicero have found this site than all of Europe.
This is non-scientific, of course. Maybe foreign buyers don’t go on Google and do a search to find out information about a building before they buy there. So they aren’t ending up on Crib Chatter. Maybe they don’t do any on-line research before plunking down their money.
But I doubt it.
To me, it seems, the Europeans and Asians don’t seem too interested in finding out about Chicago real estate.
Anyone else with different observations? Has anyone actually encountered the “foreign buyer” with their own eyes?