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Are you planning to sell an overseas property in Italy in 2019? Is this the right time to be selling overseas property in Italy? Let’s find out!
Italy Property Market Trends 2019
Okay, let’s be honest here – The Italian economy isn’t doing as well as it should, keeping in mind that Italy is a first world country. Italy has come close to defaulting on its IMF debt, and its banking system looks very, very fragile indeed.
For sure, Italy has a new government, and the political situation looks relatively stable. But the threats to the economy remain, and something has to be done about it.
What about the property market? The overseas property market in Italy is very strong, just as strong as it was before and unaffected by whatever was happening in the mainstream economy.
Sure, property prices have not gone up by much, but they haven’t gone down either. The property market remains very stable. The reason for that is Italy remains a top tourist destination and has a large expat community. It is a safe country with no serious crime and with first world amenities.
Also, it is one of the most beautiful countries in the world, as any long drive across the Italian countryside would prove - which is why Italy has a very good reputation across the world.
After all, who can resist buying an apartment in Milan or Rome, or a cottage in an Italian village? Properties in Italy have always held a special attraction for foreign buyers. So, there is no shortage of high net worth individuals from the United States, China, Russia and the rest of Asia and Middle East who want to buy a second or third home in Italy.
The question is, how are you going to fetch the best possible price for your Italian property? We discuss that next.
Things to Keep in Mind When Selling Overseas Property in Italy in 2019
A typical overseas property in the Italian countryside fetches between €100,000 and €200,000. It could fetch more in Tuscany, the hottest overseas property destination in Italy, between €300,000 and €450,000. Rome and Milan is where all the action is – an average apartment there can fetch €250,000 or more.
However, if you want to get the best possible price for your property, the way to do it is to target cash rich buyers from China, Russia and the Middle East. These are buyers who are likely to pay in full and in cash for your property.
The hard part is reaching out to them. You can’t contact such buyers through a local agent – they just don’t have the connections for that. Which is why you should hire an overseas property specialist.
Overseas property agents are usually in touch with such high net worth individuals and agents from China, Russia and the Middle East. They are very good at online marketing and know which marketing channels to use for selling your property in Italy in 2019 for a very good price.