When an Embassy wants to sell its property in Rome
There are three main reasons why a State, owner of a prestigious property, decides to sell its Representative Office, be it the Chancery, Consulate or Residence:
- The property is too small, or too large, and they want to select a location appropriate for their current needs
- It has not been used for a long time and has been abandoned
- It needs to be completely renovated and they do not want to deal with the costs and uncertainties of renovation.
Selling real estate owned by a foreign country is a delicate process that must be carried out professionally and through the right channels.
How to sell a Representative Property effectively
Let’s assume that there are ‘common practices’ for selling a property, starting with the valuation of the property’s market value.
How to do a Property Valuation
A Property valuation starts firstly with the analysis.
During the visit, the Consultant must observe the property from every angle to understand its condition and all the factors that will determine its final market price: the area (one of the most relevant factors), the dimensions, the characteristics of the property.
The luxury market clearly enjoys exclusive features that increase the value of the property: prestigious locations, privileged views, sophisticated furnishings and details. Luxury houses, in effect, depreciate much more slowly than traditional properties. That’s why a good luxury property valuation plays a decisive role in making a good deal.
Afterwards, an analysis of the documents will be carried out.
All these elements will lead to a realistic valuation and establish the value at which your property will be promoted and sold on the market.
The owner will be given a complete record of the analysis and work carried out, a fair and clear overview to help convince them of their final decision.
Each property requires its Strategy
However, each property requires its own customized Sales Strategy. It is not always appropriate to promote it on traditional trade platforms. When it comes to highly prestigious properties, such as small villas or independent buildings, the most suitable channels must be identified and the utmost confidentiality must be maintained.
For example, a property with high potential, to be completely renovated, should be shown in its current conditions to an investor rather than tackling the costs and long waiting times required to redevelop it. The investor himself will take care of the renovation work to sell the property and generate a profit.
Why choosing EDRE and not an international franching
The Diplomatic World has always been our World.
EDRE benefits from the long experience gained by the mother company Easy Diplomacy in the Diplomatic World and has strong relations with Foreign Representations in Italy, to the Vatican and the FAO, for whom it has successfully accomplished several real estate deals.
Relevant references are available on request.
An important real estate negotiation on behalf of a foreign Country requires skills, knowledge of the territory as well as reliability, discretion and those values on which Easy Diplomacy has built its work and reputation, with full satisfaction of many Embassies and Officials since 2011.
Alessandro Ghirelli is the Real Estate Manager in charge of EDRE, with ten-year experience dedicated to the real property brokerage of prestigious assets. Italian native speaker, fluent in English and Swedish.
We, at EDRE, will resell your property to another country very easily.