November 7, 2007
Italy takes the low road to popularity
Twenty years ago, when Spain was the firm favourite with British holidaymakers looking for their own place in the sun, Italy’s property market was considered unknown territory, offering mostly properties in need of a great deal of renovation.
Two decades on and Italy’s property market has changed dramatically, now offering many modern, low level and low density developments compared to many other tourist destinations, which have created vast urbanisations.
However, as many areas of Italy remain relatively undiscovered by British buyers, the country still offers comparatively affordable property prices. With flights now readily available from airports such as Gatwick, Stansted and Manchester, property agents claim that overseas buyers are increasingly looking to the Italy for good investment opportunities.
Calabria, Italy’s southern-most region, where the ‘toe’ of the Italian ‘boot’ meets Sicily, is one such undiscovered area. With the increase of direct flights to the area and property prices significantly lower than old favourites Spain and Portugal, it could become one of the more popular spots in Italy’s property market.
Posted on: Italy
October 30, 2007
The romance of Italy lures Brits
Italy is considered a gem, a dream destination for holiday getaways, but now, more and more vacationers are considering staying in Italy for good. Many are dreaming of buying a house in the romantic region of Tuscany,
The romantics and the art lovers are drawn to the Roman ruins, the structures of history, Renaissance art, regal architecture, the majestic mountains, placid lakes and idyllic islands. No doubt a place of romance, Italy is also known for its pebbled streets fragrant with lemon trees, Bougainvillea and olive vines. It is also known for exceptional wine, fantastic cuisine and great shopping.
For the nature lovers, Italy has sandy stretches on the southern coast and Sardinia or ski resorts in the Alps. Artists flock to the art galleries and museums and explore the works of Michelangelo and Leonardo da Vinci.
Posted on: Italy
October 25, 2007
New property hits the market in Italy
Brand new property in Italy is something of a rarity, or at least that was the case five to ten years ago.
It used to be the case that those wanting to buy property in Italy were pretty much resigned to - or perhaps excited by - the fact that the property would be old and in need of work. But times change and the need for brand new properties has grown enormously in recent years.
“The Italians have been so used to older properties that they are more enthusiastic towards newer property than one would imagine”, says Linda Travella of Casa Travella, “and whilst there will always be a market for converting older buildings into modern-day residences, there is now a growing number of clients on my books looking for something brand new or converted”.
Casa Travella is currently marketing new, two- and three-bedroom properties at Lido Di Metaponto in the Basilicata region. The residential-style development is close to the beach and the Club Med Village, and is within easy access from Bari or Brindisi airport. Prices for the properties start from £80,000.
Posted on: Italy
October 16, 2007
Golf properties still available
Golf courses and property go hand in hand in most overseas developers’ plans. But there are still opportunities to buy near a course where the emphasis remains on nature.
The 36-hole Golf El Rompido on the Costa de la Luz was built for the purpose of golf alone, which goes against the grain of most overseas developers. In this westernmost corner of Spain, the white sandy beaches remain unblemished; development is slow, steady and environmentally aware.
Both of the 18-hole courses, the south inaugurated in 2003 and the north in 2006, are created by Spanish designer Alvaro Arana and represent a new concept in golf: the fundamental objective is respect for the environment. A total absence of buildings throughout the golf course means that nature is the centre of attention.
Posted on: Italy
October 11, 2007
The romance of Italy lures Brits: BELLA ITALIA
For many years now, Tuscany has been a favorite of many British expatriates who are looking to purchase real estate in Italy. Many are looking for country houses and rustic farm houses in the Lucca, Florence and Siena triangle. But due to the high demand and the availability of low cost flights to Pisa, these places are becoming expensive choices.
For a cheaper alternative, house hunters are looking at neighboring Umbria, although prices there have also shot up in recent years. Their popularity with tourists makes Umbria’s holiday rental market strong. A three-bedroom property can start at £400,000. Le Marche, known as the ‘new Tuscany and Umbria’, is said to be the next big thing in the property market in spite of the fact that the region is still not an established tourist destination. This Italian pride is situated between the Adriatic Sea and the Apennine Mountains. The enchanting rural area with its unique landscape is home to olive groves, medieval towns, rolling hills, snow-capped mountains and long sandy beaches. Residents and visitors will also enjoy the cultural and culinary delights and a wealth of art and architecture within its borders.
Posted on: Italy
October 5, 2007
The romance of Italy lures Brits
Italy is a country full of treasures. From the man-made wonders of the Roman ruins, Renaissance art and regal architecture, to the natural enchantment of the majestic mountains, placid lakes and idyllic islands. With stylish cities that never sleep and narrow pebbled streets filled with the perfume of the Bougainvillea, lemon trees, and olive vines – Italy is synonymous with romance. Its history, culture, climate and cuisine seduces just about everyone. One can indulge in the pleasures of good food, good wine and great shopping, relax on the untouched sandy stretches on the southern coast and Sardinia, ski in the Alps or potter around the art galleries and explore the works of Michelangelo. Italy’s attractions really are endless.
Even more appealing for British property buyers is that Italy is a country of value as well as beauty. The cost of living is comparatively low, although of course this differs greatly between the prosperous north and central regions of Italy, and the relatively poor south. The cost of living in the major cities is similar to Britain although generally Italy has a slightly lower cost of living than northern European countries.
The health service and transport infrastructure are also excellent, and due to stricter planning regulations - compared to many other European markets - Italy has kept its charm and remained relatively unspoilt. What’s more there’s also the advantage that there is no capital gains tax on property profits. Sarah Child, property agent at Each Property says, “Italy offers some stunning scenery and a vast choice of properties. With cheap flights to many of its cities and with Italian property prices still reasonable you can see why many Europeans are heading to Italy to buy a second home. Italy has long been a firm favourite with British buyers who love the culture, food and history that Italy offers in abundance.”
BELLA ITALIA
Tuscany may be the first place that springs to mind when Brits decide to purchase property in Italy as it has been a favourite with British expatriates for many years. Demand is especially strong for country houses and rustici (farm houses) situated in the Lucca, Florence and Siena triangle, but this high demand and the availability of cheap flights to Pisa means that it is now an expensive choice.
Neighbouring Umbria is often cited as a cheaper alternative, but prices there have shot up in recent years. Due to its popularity with tourists the holiday rental market in these regions is strong. A three-bedroom property is likely to cost upwards of £400,000. Le Marche is being heralded as the next big thing as far as the property market is concerned, although the region is still not an established tourist spot. Italy’s hidden gem is perfectly situated between the Adriatic Sea and the Apennine Mountains. This enchanting rural area boasts rolling hills, olive groves, medieval towns, snow-capped mountains and long sandy beaches. The area boasts an array of cultural and culinary delights and a wealth of art and architecture within its borders. Le Marche has been called the ‘new Tuscany and Umbria’ but the region is unique, with a character all of its own, due in part to the great variety of natural landscapes.
Posted on: Italy
September 18, 2007
Italy takes the low road to popularity
For awhile, Italy’s property market was considered unknown territory, offering mostly properties in need of a great deal of renovation. 20 years later, Italy’s property market has changed dramatically. It now offers many updated, low level and low density developments compared to many other tourist destinations, which have developed and improved with vast urbanisations.
As many areas of Italy remain relatively undiscovered by Brit buyers, the country still offers comparatively lower property prices. Since Italy is now more accessible with flights from airports like Gatwick, Stansted and Manchester, overseas buyers are increasingly looking for good investment opportunities in Italy.
Italy’s southern most region Calabria is one such area yet to be discovered. But with the increase of direct flights to the area and property prices significantly lower than other neighboring countries, it can become a hotspot in Italy’s property market.
read more
Posted on: Italy
September 14, 2007
Southern Italy proving popular
Rural Italy is proving to be more and more popular with property buyers from Britain as low prices combined with a strong pound make the country more attractive. Calabria is generating a lot of interest in particular. Nestled at the Southern end of Italy, Calabria is enjoying attention for its affordable property prices. “The attraction of Calabria in Italy’s market is cheap prices,” confirms a representative from the Association of International Property Professionals (AIPP).
Calabria is just to the south of Naples and home to around two million people. It is a place of rich contrasts. Some areas are mountainous and suffer below-freezing temperatures during the winters. On other parts of the region, citizens enjoy stretches of beaches and sunny temperatures of around 40 degrees Celsius during the summers. Calabria is also loved for its vineyards since the time of the ancient Greeks. read more
Posted on: Italy
September 6, 2007
SECOND HOMES ‘RUINING TUSCANY’
Pressure group Legambiente is renewing its call to restrict development in Tuscany, Italy. The lobby group is claiming that the region’s natural beauty is under threat from “rivers of cement” as a result of demand for holiday homes in the area.
A spokesman for the environmental group said, “We need to cherish this landscape.” Concerns over the boom in new-build homes in the area was echoed by Alberto Asor Rosa, a professor at La Sapienza University in Rome. He cites an instance in the hamlet of Monticchiello, a historic settlement near Pienza, where new apartments were built on the pretext of providing housing for local people, only to be advertised by the developer as second homes in the Roman press.
Posted on: Italy
September 5, 2007
Buying property in Italy
More and more people are considering properties in Italy for the laid back lifestyle. Buying a property in Italy is fairly simply. The first step in buying a property in Italy is to make a legally binding offer. If the seller accepts the offer, the offer forms the basis of the contract or the compromesso. The contract sets out the terms of the transaction which includes the full details of the property, price, date of completion and conditions that must be met before completion.
During the compromesso stage, the seller must pay a deposit. The deposit is normally between 5-10%. Either party then has the right to force the sale. A sale can be forced unless conditions like establishment of clear title have not been met. The title deed or the rogito is drawn up and signed in the presence of a notary.
Posted on: Italy
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