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If you’re looking for tips to sell property in Italy fast, you’ve come to the right place. The property market in Italy is in the middle of a significant upside trend as the national economy has picked up under the leadership of Prime Minister Matteo Renzi.
Finally, after several years, Italy has a stable government at the centre. This is excellent news indeed for everyone involved in the Italian housing market, buyers and sellers. Buyers can take solace in the fact that property prices in Italy are in a very attractive range right now and still 30 percent lower than the high of 2007, just before the recession.
Sellers can take advantage of the rise in the property market, which has been witnessed in all regions in the country, especially in ultra fashionable areas such as Tuscany, Sardinia and Liguria. The overseas property market in Italy is alive and kicking. Make no mistake; there is a lot of interest in the country.
With stock markets around the world, especially in China and Russia, being so volatile, there is a real intent among rich, high net worth investors from emerging nations to park their assets in safe havens such as Italy.
As a seller, your best chances are to market your property to this crowd – rich Chinese and Russian investors, who are likely to be all-cash buyers. This represents your best chance of being able to sell your property quickly and efficiently.
Marketing would make all the difference here. The trick to marketing an overseas property is to sell the lifestyle, the property is only secondary. In fact the property itself is a commodity, selling the lifestyle is the most important thing in the overseas property market.
Italy is a very lifestyle driven country. Buyers prefer Italy to other countries such as Germany or the U.S., not for investment purposes, but because the lifestyle that they get in Italy, such as Italian food and wine, architecture, history and culture, is not available anywhere else in the world.
Italy has a reputation for fast cars, beautiful women, great cuisine and high fashion. The lifestyle here is laid back, relaxed and fun; something that most people desire at some point. That’s that you should aim to sell to prospective buyers in the overseas property market.
For example, if you have a home in Tuscany, you should include the famous Tuscan Renaissance architecture and art in your promotions. You should emphasize Tuscany’s beautiful natural landscapes, incredible mountain views, sprawling vineyards, fine food and great wine to prospective property buyers.
This is something an experienced estate agent specialising in overseas property transactions would know very well. Be sure to hire the best as marketing your overseas property is not something you should do yourself. Trust the experts to do find a cash-rich buyer for you.
Also, you should know about the costs related to the selling of your property in Italy. You will be charged a capital gains tax of 20 percent on the sale of your property provided you have held it for less than 5 years. If you have owned your home in Italy for over 5 years, then congratulations, you don’t have to pay any capital gains tax on it.
You will be exempted from paying capital gains tax if you are a resident of Italy and the house being sold is your Prima Casa or primary residence. The estate agent commission, which is 6% in Italy, is split equally between the buyer and the seller.
Finally, it is important to seek a real estate lawyer’s help to deal with the paperwork. The preliminary contract that is signed is legally binding on both the buyer and the seller. If the buyer changes their mind, they forfeit the deposit that is paid to you. Contact the experts UK & Irish Estate Agents Selling Property in Italy