Real Estate & Other News in Italy from Propertyshowrooms.com

Italian property prices fall

Mon, 21 Nov 2011 00:00:00 GMT

Property prices in Italy slid by 0.7 per cent during the year to June 2011, figures from think-tank Nomisma show.

Citing the data in a report about the state of the country's real estate market, Global Property Guide noted that there is a mixed outlook for the sector.

The publication highlighted a Bank of Italy survey from October this year, which found that estate agents in the nation expected sales to increase over the coming months.

However, Nomisma predicted that the downturn in the Italian property market is not yet over, with further falls still to come.

According to the news provider, Italy is a nation of owner-occupiers, with 80 per cent of houses in the country falling into this category.

It also pointed out that restrictions on the rental industry make this unattractive to many property investors, with rental homes typically generating a yield of between three and five per cent.

Linda Travella, of estate agency Casa Travella based in the Italian lakes, recently stated that real estate around Lake Como and Lake Maggiore is becoming more popular among buyers.

Indecision costing Brits looking at real estate in Italy

Tue, 5 Apr 2011 00:00:00 GMT

British buyers looking to purchase property in Italy are finding that their indecision is causing them to lose out on “some of the best real estate”.

This is according to Linda Travella, of Casa Travella, who noted that a number of her clients are missing out on their ideal properties because they are hesitant to make a final decision.

She explained that the housing market in Italy has not suffered on the same scale as other areas of Europe as a result of the banking crisis. This means that Italian property prices have not dropped as much as in other countries.

According to Gabetti, the Italian Real Estate Franchise Group, the overall market in Italy is improving but is a little uneven, with high end and luxury property faring the best.

"Now is a great time to buy," said Ms Travella. "With 25 year mortgages on offer at low interest rates why wait any longer?"

The comments follow the release of figures from the Bank of Italy that show house prices in the country recorded declines of just 0.3 per cent last year, with some areas of the country even seeing values rise.

Brits told 'not to overstretch themselves' with foreign property

Fri, 11 Mar 2011 00:00:00 GMT

Individuals looking to buy property overseas may be interested in the latest piece of advice offered by one industry expert.

Amanda Lamb, presenter on Channel 4's A Place in the Sun, advised Brits not to overstretch themselves when weighing up the cost of a purchase.

The news may interest individuals looking to buy property in Italy, with the recent financial crisis having pushed real estate costs down in the country.

"Take a step back, you're not just buying a new pair of shoes or even a car here, it's a major major purchase, so you have to make sure that you're buying it for the right reasons," Ms Lamb said.

"You have to make sure you are buying it because you want to use it and enjoy it. Don't buy something because somebody tells you that you are going to treble your money overnight."

She noted that although there are some great property deals about, people should make sure they are able to cover the costs.

Mayor sells houses in Sicily for €1 each

Tue, 2 Sep 2008 00:00:00 GMT

A mayor in Sicily is selling off historic houses for €1 each. Salemi's "eccentric" new mayor feels that selling the houses for €1 could be the best way to save Salemi's historic old quarter.

The €1 houses in Salemi, a town south of Palermo in Sicily, will need a lot of work done to them, reports The Guardian. Following an earthquake in 1968, Salemi's ancient centre has become depopulated, but the town's new mayor, the former art-critic Vittorio Sgarbi, now wants to turn this around.

"There are 3,700 houses owned by the council, almost all in the old town, that are in danger of falling down, of crumbling and dying," Sgarbi told the Corriere della Sera.

"We're thinking of people who have the sensibility and economic resources to embark on this adventure. In exchange for a token payment of one euro, we will offer them one of these houses and ask that they undertake to restore them within two years while respecting their original characteristics."

Sgarbi originally offered the houses for free to anyone from Salemi who was willing to do the renovations, according to The Guardian. The mayor is today expected to hand the first of the houses to Massimo Moratti, the chairman of Inter Milan. As well as offering the houses for €1, Sgarbi has also appointed a prince in charge of heritage and town planning.

Sgarbi is described by the paper as being a former anarchist who later became a fan of Silvio Berlusconi, going on to gain a post in the government in 2001. He was removed a year later and went on to found his own "Beauty Party" before rejoining mainstream politics.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Dragons Den millionaire invests in Italian property

Wed, 30 Jul 2008 00:00:00 GMT

The man who became the first millionaire on the popular TV show Dragons Den with his clever electrical device is now investing in property...

Skilled workers head abroad

Fri, 9 May 2008 00:00:00 GMT

Many skilled workers from the UK are looking to further their careers overseas, new research has found.

According to NatWest, 42 per cent of those who left to find work abroad during 2006 were either professionals or managers.

Commenting on this finding, the firm said a typical expatriate is no longer an older person who wants to spend their retirement in the sun.

Instead, it believes the average Briton abroad is a 43-year-old professional on a salary of approximately £67,000 a year.

Dave Isley, head of NatWest International Personal Banking, said the number of skilled workers looking for jobs overseas will continue to rise.

He remarked: "This trend will increase as countries continue to seek out the talents of British workers and entice them to foreign climes with career opportunities and the chance to experience life abroad."

This comes after an earlier NatWest study revealed that the average person in the UK earns £47,000 a year.

However, a typical salary in the United Arab Emirates can be as high as £79,000, a figure the firm described as "whopping".

Europe opened up to people in Scotland

Tue, 11 Mar 2008 00:00:00 GMT

Second home buyers in Scotland look set to benefit from the introduction of new flights to mainland Europe.

Budget airline Ryanair has confirmed that it will roll out services from Edinburgh to a number of destinations across the continent.

The flights to places including Spain, Italy and France will make these countries highly accessible to consumers in the vicinity of the airport.

As a result, they will become much more viable locations for those who are thinking of buying a holiday home overseas.

Their appeal should be enhanced by the fact that they will be serviced by a low-cost airline, as this means that air fares will be highly affordable.

David Johnston, managing director of the airport, commented: "We expect [the flights] to prove popular with inbound and outbound passengers."

According to the Office for National Statistics, almost 850,000 UK nationals now own a foreign property.

Expatriates 'should learn local language'

Thu, 1 Nov 2007 00:00:00 GMT

People who are thinking of relocating to another country have been urged to learn the local language.

Age Concern stated that older people who were planning to retire abroad may be required to use the native tongue if they were living in a non-English speaking nation.

The charity stated that language could play a "major role" in certain circumstances, such as if they needed to consult with local professionals.

A spokesperson commented: "You may not need knowledge of the local language to go shopping but it may be crucial for other things such as going to the doctors."

Earlier this week, former journalist Peter Greene highlighted the importance of being familiar with the native language of a country.

Speaking to the Telegraph about his move to Italy, he stated that learning a few lines would help expatriates fit in, especially if they were living away from major tourist areas.

Mediterranean lifestyle 'best in Europe'

Fri, 12 Oct 2007 00:00:00 GMT

People living in countries such as Spain and Italy enjoy the best quality of life in Europe, according to a new study.

The Typically Spanish website cited research by the Academy of Healthy Ageing which showed that the two countries had the highest life expectancies in the whole continent.

Italian males were found to reach an average age of 71, while their female counterparts were said to be likely to live to a typical 76 years old.

In addition, Spanish men were said to be able to reach 70 years old on average, compared with 75 for the women.

Researchers said this was due to the good quality of life they enjoyed in both countries, which was superior to that in other EU states.

Such an endorsement could prove to be an attractive inducement to people thinking of moving abroad to improve their lifestyle.

Earlier this week, research by Yorkshire Bank found that two in five people in the UK were thinking of buying a foreign property in order to enjoy lifestyle benefits such as a warmer climate.

Tourist numbers 'set to surge at Christmas'

Thu, 4 Oct 2007 00:00:00 GMT

Many Britons are considering taking a short break overseas during the festive season, according to a poll.

A survey by Kayak.co.uk found that 75 per cent of people in the UK were thinking of visiting another country at Christmas, ideally a hot and sunny location.

The weather was found to be one of the main issues that was driving people to leave, largely because of the torrential downpours experienced in Britain during summer.

Heavy rain in June and July was so strong that it triggered a number of major floods in several parts of the UK.

Annie Wilson, business development director at Kayak.co.uk, said: "Christmas is traditionally a time for staying at home, but sometimes you just need to break with tradition and let someone else cook and clean while you catch some much-needed rays."

A surge in tourist numbers could be good news for overseas property investors in the most popular destinations, as they will benefit from increased custom.

Lake Como proving popular

Tue, 3 Jul 2007 00:00:00 GMT

Italy's Lake Como is proving popular among buyers setting their sights on the Italian property market.

The region is showing signs of increasing popularity of late, bolstered largely by a surge in budget flights to Milan. This increase in affordable travel has led to better connectivity, in turn making Lake Como and its surrounding areas more appealing on a practical level.

In addition the development of new build properties gives investors a wider choice of properties to choose from, while a healthy level of tourism promises steady tenant demand during holiday seasons.

Tourist activity in the region includes sailing and windsurfing, while winter sports are becoming increasingly popular during the winter months.

One specialist, Linda Travella, asserts that local properties could offer strong buy-to-let returns.

"The increase in cheap flights from the UK to Milan's three airports has made a big difference," she told the Telegraph.

"Properties here have a fantastic rental income."

Meanwhile the Association of International Property Professionals maintains that rural areas in Italy are also proving popular among British investors.

Young looking to overseas property for first home

Mon, 5 Mar 2007 00:00:00 GMT

Soaring house prices in Britain have led to two in five young adults considering buying a property abroad, a new study has revealed.

According to insurer Hiscox, almost 40 per cent of 18 to 24-year-olds are contemplating moving abroad as the only way to get onto the property ladder.

Researchers at Hiscox said the findings were an indication that a new social group is emerging, which they have dubbed Barbies (buying abroad, renting in Britain).

Steve Langan, managing director, said: "More young people than ever before are finding their route into the UK property market blocked and are turning to overseas property investment as a more affordable and potentially lucrative investment option.

"In the 1980s, Yuppies started to push UK property prices up and the signs are that 20 years later the Barbies could do the same for property prices abroad."

The firm has said it has already seen a significant increase in the number of foreign property sales.

Philip Orr, owner of overseas property company Jamijo, recently told Belfast Today that a growing number of people are starting to recognise that buying a property abroad can be "a very shrewd investment".

Announcing Italy’s Best Kept Secret

Fri, 2 Mar 2007 00:00:00 GMT

But keep a close eye on Italy today and you will find fresh horizons opening up to those with the foresight to see what has and what will happen in this country. Today's steady exodus of young Italians from the provinces into the cities is leaving behind some idyllic rural retreats that are now going for a song. Those seeking peace and an opportunity to enjoy Italy's glorious authentic rural charms at affordable prices are looking southwards, well away from the more traditional jet-set haunts. Lovely regions lie simply waiting to be discovered, such as Calabria in the toe of Italy's boot, that are not nearly as hyped or as costly as other locations further north.

Take, for example Jewel of the Sea, Calabria's superb 5 star resort development going up from June this year in the heart of an area of unadulterated coastal beauty. Italian legislation ensures that low density, low rise construction is the only permitted form of development in rural Italy, avoiding the concrete invasions to be seen in many other Mediterranean locations. Covering a total area of 320,000m2 including a golf course and packed with amenities such as restaurants, bars, shopping mall, tennis club, fitness centre and luxury spa, this resort is set to be fully satisfy every requirement of savvy investors and sun seekers while retaining the much sought after Italian character. With prices starting at an incredible 85,500 euros.

A distinct lack of international flights to Calabria has previously hampered tourists but, as home to some of the most spectacular of Italy's beaches and the cheapest places to stay, Calabria is set to become popular due to the long awaited launch of direct flights to the region. From 18 February Ryanair now offers direct flights three times a week from Stansted to Lamezia and Thomson will also shortly be introducing weekly Gatwick and Manchester flights to Calabria.

Already a firm favourite amongst many Italians as a holiday getaway, new developments here will not only serve the growing demand from city slickers for luxury holidays or second homes in the country, but also open up new horizons for international investors gleefully watchful of this mini emerging market.

Italy is not essentially an emerging market but with a readily improved infrastructure in the south and luxury new developments now going up in Calabria at an astounding one third of prices in Spain and Portugal, many purchasers are treating this area as such. The main reason for the low prices has of course been limited accessibility which all shrewd investors see as a blessing in disguise: they have been buying up southern properties at rock bottom prices, safe in the knowledge that the new air services are on their way, bringing with them a necessary influx of tourists to serve their investments.

Located in an Italian paradise, Calabrian properties are still the best value for money in Italy, while breathtaking sights and perfect sun drenched sandy beaches are sure to be firm favourites with future visitors and investors alike.

So if you missed the boat on the Costa del Sol back in the ‘70s when property prices were at emerging price levels, perhaps a closer look at beautiful Calabria is now in order – after all, it would be a shame to say "what if….." yet again!