Is it possible to sell your property in Italy fast to cash buyers under the current economic circumstances in that country? Yes, why not, provided you hire the right UK estate agent who specializes in buying and selling overseas properties.
First, let’s give you a full picture of the situation in Italy. The Italian economy is in a spot of bother. The stats from the EU confirm that Italy experienced no growth at all in the last quarter of 2022. The Prime Minister has had a torrid time recently trying to navigate the Italian economy through troubled waters.
Italy has been yet to emerge from a mini-recession that began in 2015. The then government was aiming for a growth of 1.2% this year, but that doesn’t look achievable, as the economy has only grown 0.2% all year.
What does this mean for the housing market in Italy? Fortunately, the Italian property market represents a safe haven for those looking to invest in the country. Italy is even today one of the best overseas property destinations in the world.
There’s a lot of interest in Italian properties. Housing prices in the country have remained largely stable in spite of the stagnation in the rest of the economy.
While there is no question that home prices are not the same as those seen during the highs of 2008, the fact is that the housing market in Italy is still in a much healthier state compared to some of the other countries in Europe.
Indeed, prices are just right for those who want to invest in Italy. Italy is certainly very affordable for foreign investors who have always wanted to buy a home there.
In fact, there has never been a better time for many to buy their dream home in Italy. It is unlikely that home prices will get any lower than what they are already.
So, even as prices drop across Italy, home sales have been on the rise, up by 10 percent over the last 12 months. Mortgage rates have been kept very low by the central bank in Italy to encourage more investment in property and banks have been told by the government to encourage investment in property.
This means there are plenty of great opportunities available in Puglia, Tuscany, and Lake Como, which are among the most beautiful places in the world. Some of the areas that have become popular recently as overseas property hotspots are the Dolomites and Le Marche. Here property prices are 30 percent lower than in Tuscany.
For those looking for a smart bargain, there are many wonderful opportunities available. Italian villas for sale that cost under €150,000 are very popular with foreign buyers.
What about the buyers? Where are the buyers coming from? Local agents report an increasing number of inquiries from wealthy individuals from Australia, China, Hong Kong, the Middle East, Russia, Ukraine, and Singapore.
There’s also a lot of interest from the USA, as Americans have always been fascinated with Italy. Britons, Germans, and Scandinavians continue to be the most prominent buyers of Italian properties. So it’s certainly possible to get good value for your property for sale in Italy.
Contact the experts free today to sell property in Italy fast to cash-rich buyers.