Property selling time in Italy: things to consider

If you're planning on selling property in Italy, one of the biggest questions might be how long the process will take. Property owners almost always want to conclude a sale as quickly as possible, however, there are several variables that are difficult to predict. The factors influencing the timing of the sale are different, including the market and price of the property. So, how long does it take to sell a house in Italy? These are the variables to consider that will affect the selling time. 

How long it takes to sell a property in Italy: influencing factors

The factors that influence the timing of selling a property are:

• the location of the property
• the type of property
• the condition of the house
• the selling price
• the property market
• seasonality
• luck.

Property location 

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The location of the property is a relevant feature that can greatly influence how long a property takes to sell. Each location has its own peculiarities, and we can distinguish some macro-categories, including:

• Large cities: usually a house located in large metropolises such as Milan, Rome and Florence can be sold without too much difficulty. In addition, neighbouring areas with good transport links are also fertile ground for sales;
• Tourist areas: seaside or mountain locations are attractive to buyers, despite taxes on second homes and the desire on the part of the new generations to always spend their holidays in different places, not wanting to have a fixed place;
• Industrial and university clusters: properties in these areas are in high demand, including those who plan to buy a home and then rent it out to workers and students;
• Peripheral areas: in areas with no particular attractions, selling a house may take longer.

In peripheral areas, there is a constant decrease in population, which is also reflected in the time needed to sell.

Type of property and condition of the house

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In cities, there is usually great demand from potential buyers for small or medium-sized houses such as studios or two-room apartments. The same situation exists in tourist areas and industrial centres, although there may be exceptions, including:

• Towns adjacent to large cities: in these areas, people look for properties because they feel the need to escape from the city chaos;
• Mountain areas: in the mountains, there is a market for chalets;
• Villages and neighbourhoods with high-profile housing: houses in these cases have valuable features, such as period ceilings.

Should the property not reflect these characteristics, and one has a large house, the solution could be to divide the dwelling into one- or two-room apartments. While, if you have a farmhouse in the countryside, it could be useful to transform it into a rural tourism facility or a B&B.

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Furthermore, the presentation of the house is very important for its sale. A well-presented house can be sold quickly, while a badly presented one can remain on the market for months. With a few improvements, such as emptying, removing unnecessary objects, painting, inserting strategic lighting points and small furnishing details, it is possible to make the house more attractive to potential buyers.

The technique of home staging can help turn a house into a gem that will attract many buyers, especially for those who are looking for a ready-to-live-in house and do not want to intervene with renovation work.

The selling price

The price is a very significant element in the timing of a sale. If you are in no hurry to sell the house, you could ask for a higher price. Usually, however, this strategy does not work, as waiting is often reflected in a financial loss, so it is advisable to sell it as soon as possible.

There are 3 price ranges:

• price range aimed at property speculators;
• price range that reflects the real market value;
• price range that only those who fall in love with the house are willing to pay.

Selling to property speculators does not take too long, especially if you are in a big city, conversely, to sell a home above market value, the time frame may be doubled. Price is a very significant element in the timing of the sale and that selling at a price appropriate to the condition of the property and the current market situation is crucial. So to establish an appropriate price one can rely on expert advice, that of a real estate agency, for example, or use our free valuation tool to get an idea of how much your Italian property could be worth. 

Market conditions and seasonality

The property market is cyclical, which means that there are periods when the market is hot, conversely there are times when it is more difficult to sell. The health of the real estate market is also visible in the time it takes to sell a house; in fact, a hot market has high demand, low supply and rising prices, and certainly in this case the seller has an advantage.

Some real estate markets suffer from the seasonal impact, but in general, conditions can change very quickly.

Luck

Luck is another element to take into consideration when selling a property in Italy, it may be that the house is priced above average but someone falls in love with it and is willing to pay a premium for it, conversely it could be the perfect house but not be noticed and not receive the right recognition.

How long does it take to sell a house in Italy?

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Predicting how long it will take to sell a house is not that simple. To sell a property you have to:

• have positive parameters and adopt a winning strategy; in these cases it could take a few weeks up to two months;
• consider that if the situation is average it can take three to six months;
• consider that if the parameters are not favourable, it could take six months to a year. The suggestion is to review the sales strategy, price or communication;
• Optimise the sales process, which is essential in cases where the time frame exceeds one year.

Finally, if the house has been on sale for more than two years and there has still been no potential buyer willing to buy it, the price is probably out of the market or the sales strategy is wrong, but nothing that cannot be solved by adjusting the parameters. If this is the case, it would be advisable to rely on real estate experts or request a free valuation as an indication by using our valuation tool.

How long does it take to sell a house at auction in Italy?

It usually takes 8 to 10 months to sell a property at auction in Italy. A reform has accelerated the time frame; initially it took at least 18 months to hold a judicial auction.