Real Estate & Rental & Lettings News in Italy from Propertyshowrooms.com

Brits return to Italian property market

Fri, 2 Jul 2010 00:00:00 GMT

Italy is proving to be a hot spot for British investment this year, with some developers reporting an upturn in interest from buyers, Overseas Property Professional has reported.

According to Luca Catalano, director of Realitalia, UK-based investors have begun to come back to the European destination after a lengthy period where the market was dominated by locals.

"Without a doubt we have seen a marked increase in interest from the British with a strong rise in the numbers requesting information, visiting our show homes and ultimately taking decisions," Mr Catalano told the news provider.

Mr Catalano believes that the resurgence in interest can be put down to the current strength of sterling and the offering of attractive promotions to buyers.

The news could lead to an increase in the number of individuals looking for property in Sicily, with the destination boasting a rich and unique culture which makes it a popular tourist destination.

Meanwhile, foreign exchange specialist Moneycorp claimed that the weakened euro was likely to entice investors to eurozone destinations, such as Italy.

Italy remains a popular holiday destination for Brits

Thu, 6 May 2010 00:00:00 GMT

Italy remains a popular destination for British travellers thanks to its accessibility, low prices and attractive culture, it has been claimed.

According to the Italian Tourist Board, holidaymakers will be able to enjoy the "perfect" trip if they choose to visit and enjoy the European destination.

The news is sure to interest individuals who are looking to rent property in Italy, as the news could lead to an increase in the amount of people looking to visit the country.

Stefania Gatta, press and communications officer at the Italian Tourist Board, recommended visitors took advantage of the country's culture.

"[Italy] offers everything to make a holiday perfect: it is not too far, served by many airlines at competitive prices, it offers beautiful scenery, art cities, fashion, good food and reasonably good weather," he explained.

In addition, four of Italy's cities are included in the TripAdvisor Traveller's Choice Destination Awards top ten, with Florence, Venice, Siena and Rome all making the list.

Lifestyle buyers grabbing bargains in Italy

Tue, 2 Mar 2010 00:00:00 GMT

Astute investors can take advantage of the current economic climate and slump in property demand to grab themselves a bargain, it has been noted.

According to a report in British newspaper the Daily Telegraph, many individuals are returning to traditional European destinations as properties requiring long-haul flights have fallen in popularity.

One such country seeing an increase in interest in its property market is Italy.

Gemma Bruce, of estate agency GK Italian Property, told the news provider that an increasing amount of lifestyle buyers were taking advantage of cheap housing in Italy.

She explained: "We're seeing prices at their lowest since the downturn started. Buyers are desperate to sell and fear the market will take longer than expected to improve, so are prepared to accept very low offers."

Earlier this year, A Place in the Sun predicted that Italy would be one of the top ten destinations for foreign property investment in 2010.

According to a survey by estate agents Savills, around 430,000 holiday homes worldwide are owed by Brits.

Property firm highlights Tuscan fractional property appeal

Fri, 27 Nov 2009 00:00:00 GMT

A property firm has highlighted the sort of property that can be had on a fractional ownership basis in Tuscany.

Realpoint, which provides homes on such a basis in Italy, France, Greece and Turkey, revealed that one and two-bedroom residences are on offer in the hamlet of Borgo di Vagli, which dates from the 14th century and overlooks the 10th century Pierle Castle.

The village has a restaurant, heated swimming pool, two golf courses and concierge services.

In addition to this, the firm noted that the location is 40 minutes from Perugia Airport and is a "short, scenic drive" from Lake Trasimeno.

The company offers one-tenth ownership from EUR65,000 (GBP59,000).

As an alternative to Tuscany, the Times recently suggested that investors could find a good bargain in Bergamo.

Director of The Property Finders estate agency Barbara Wood told the paper the city is easily accessible now Ryanair is flying there.

Italian property 'still stable'

Tue, 3 Nov 2009 00:00:00 GMT

Italy's property market is a stable one that is not prone to large increases or drops in value, it has been stated.

A Times feature on the country quoted head of Knight Frank's Italian desk Rupert Fawcett as saying: "Historically, property prices in Italy have always held. Italy's second-home market has been largely unaffected by the recession."

While there has been a fall in prices, this trend is now in reverse in the same way British prices are currently increasing, he noted.

Mr Fawcett said popular places for second homes in the country include locations like Lake Como, Venice and Capri.

In September, the paper reported that despite the lack of a major plunge in values, there are still some bargains to be found.

It noted examples of where a relative lack of buyers meant Britons who needed to sell have been finding it necessary to lower their asking prices.

Italian olive properties 'a lifestyle choice'

Tue, 6 Oct 2009 00:00:00 GMT

Those who invest in Italian properties in olive-growing rural areas are getting involved in a whole way of life, it has been stated.

Speaking to the Times in a feature on the subject, head of Knight Frank in Italy Rupert Fawcett said those keen to harvest olives will need to form connections with the community.

He stated: "Buyers may not intend to barrel their own oil, but they will soon realise that they need help from a local farmer in looking after the trees. It's the whole lifestyle they are buying into."

The paper noted that the choice of where to buy in Italy may be dictated by the sort of oils the olives of each region produce, with these varying in flavour.

Britons looking to find properties in the country may find the best source is that of fellow UK citizens keen to sell and willing to lower their price, the Times reported last month.

It said many are dropping their asking prices, despite Italy not suffering a major market slump.

Italian discounts 'available from fellow Britons'

Wed, 9 Sep 2009 00:00:00 GMT

Those keen to pick up a bargain property in Italy may find fellow UK citizens are the best source, it has been suggested.

In a feature on overseas property discounts, the Times noted that sellers are looking to drop prices to be able to dispose of their assets, even though the country has not seen a severe market slump.

The paper reported on the case of Edward Mayhew, who ran a Tuscan estate as a wedding reception venue with his wife until she died last year.

Mr Mayhew is now looking to sell up and move top Florence and has cut the price by 50 per cent to get a buyer.

He remarked: "I'm philosophical about having to drop the price so much. It's simply a necessity if I want to sell."

Last month, Shelter Offshore advised that Italy is a good stable market that is well-suited to those keen to invest for the long-term.

Old church building tip for Tuscany property

Fri, 31 Jul 2009 00:00:00 GMT

Tuscany property seekers can overcome the lack of old farmhouses to renovate by turning their attention to disused churches instead, it has been suggested.

In a feature on the subject, the Daily Telegraph noted the case of theatre director Michael Fields, who bought an old church and priest house in the La Marche area.

He spent EUR350,000 (GBP298,000) of his own money on top of EUR220,000 in grants when he acquired the property in 2006 and has now been able to hold musical events in the building.

Roger Coombes from Cluttons Italy told the paper that the spaciousness of such buildings makes them ideal for entertaining.

Another part of the country that buyers may be interested in is the Dolomites area.

The mountainous region was recently elevated to world heritage status for its natural attractions by Unesco, which described it as having "some of the most beautiful mountain landscapes anywhere".

Italy's alternative Riviera recommended

Thu, 18 Jun 2009 00:00:00 GMT

Italy offers a cheaper alternative to the French Riviera, it has been stated.

The Liguria region is close to the Cote- D'Azur but is cheaper to buy Italian properties in, the Independent reports.

Luca Catalano of estate agency RealItalia told the paper that "regular flights into Genoa and Nice" make it a highly accessible area for UK buyers.

While coastal one-bed villas cost around GBP259,000, those looking slightly inland can find lower prices, said Italian property specialist Gemma Knowles.

She remarked: "Nice apartments in towns can cost from around GBP215,000 while inland you can find homes in charming hilltop villages or farmhouses from around GBP130,000."

Italy was recently named as one of the countries to benefit from a growth in UK buyers thanks to the rising strength of sterling against the euro, the Financial Times reported.

Director of dealing at foreign exchange firm Currencies Direct Mark O'Sullivan noted that the improving pound had provide a "confidence boost" to British investors buying in Europe.

Sicily 'drawing in Britons'

Mon, 1 Jun 2009 00:00:00 GMT

British property buyers have become significantly involved in the Sicilian property market in the past two years, it has been stated.

In a feature on the island's investment prospects, Country Life noted that UK purchasers prefer the east side of the island, where prices have been rising around ten per cent in towns such as Ragusa.

However, Sicilian property remains cheaper than mainland Italy prices, the magazine added.

Features of the island listed as attractive for buyers by the magazine include its ancient monuments, the presence of Mount Etna - Europe's largest active volcano – and the ease of access for second home buyers, with the last factor shortly to be improved with the opening of a fourth airport at Cosimo/Ragusa.

Buyers in Italy may also find that the cost of doing so is falling thanks to the recovery in value of the pound against the euro in recent weeks.

This trend has boosted mortgage enquiries from Britons keen to buy in eurozone countries, overseas mortgage firm Conti has said.

Italian property 'offering wide range of bargains'

Tue, 7 Apr 2009 00:00:00 GMT

The Italian property market offers a very wide range of bargains, it has been stated.

Various regions of the country offer low-priced prospects, including normally expensive regions such as Umbria and Tuscany, the Times reports.

An example quoted by the paper was a three-bedroom cottage in the village of Castiglione del Lago, which is in Umbria but near the border with Tuscany, costing GBP 149,000.

Prices across the country have dipped by ten per cent, director of Cluttons Estate Agency Linda Travella commented, but noted that "the bargains take some hunting down".

The Castiglione del Lago area may be particularly interesting for some buyers, as it hosts the Painting the Skies kite festival around the end of April and start of May.

In addition to the kites, visitors to the area can enjoy hot air balloons, exhibitions, films and food tasting.

Southern Italy offers "strong rental potential"

Mon, 8 Dec 2008 00:00:00 GMT

Southern Italy is set to see a wave of activity in the property market over the coming months despite the credit crunch, it has been claimed.

Incalabria, a property firm specialising in the region, stated that despite the economic downturn, there is no shortage of buyers looking to purchase property.

"People's underlying enthusiasm to invest abroad has not been dampened," director of the firm Dennis Onstenk remarked, adding that the company is in the process of adding to its portfolio in order to meet demand.

He noted that the weather, coastline and "strong rental potential" makes the region attractive to buyers, adding that prices mean a beach-front property can be purchased for "less than half" of the average price of a home in the UK.

Mr Onstenk's comments support those of Liam Bailey of Property Abroad, who recently stated that investors are increasingly focusing on established property markets - like Italy's - in the wake of the credit crunch.

Holiday home owners encouraged to rent out properties

Fri, 17 Oct 2008 00:00:00 GMT

Owners of a holiday home in Italy have been encouraged to consider entering the rental market.

Shelter Offshore said opening a property up to tenants and holidaymakers could help investors cover some of the maintenance costs.

This, it stated, would mean the property could effectively pay for itself, thereby easing the monetary constraints created by the credit crunch.

"Renting out your Italian property can be a practical way to reap some financial rewards for having a lovely place in the sun," the website commented.

Shelter Offshore added that property owners who target the holiday market stand to collect strong rental returns, although it said this can mean the house is left unoccupied at certain times of the year.

This comes after DirectHolidayBookings.co.uk revealed that the economic downturn in Europe is prompting more and more holiday home owners to use their property to generate money.

Visit our off-plan property Italy page.

Year-round tourist spots 'have investment potential'

Mon, 16 Jun 2008 00:00:00 GMT

Rental investors are getting low vacancy rates in year-round holiday destinations, it has been revealed.

According to Holiday-Rentals, most of its clients with a foreign property are able to rent them out for the whole year.

This is because many of these residences are located in places which do not have a seasonal tourist trade, such as Italy, France and Spain.

Therefore, investing in a country which attracts high volumes of tourists for 12 months of the year could be a lucrative endeavour.

Sarah Chambers, spokesperson for Holiday-Rentals, commented: "60 per cent of our clients own one or two foreign homes.

"They almost always rent them out for the whole year."

Speaking to the Telegraph, she said places with cultural or sporting attractions could have particularly high rental demand.

Meanwhile, research by TripAdvisor has revealed that most British consumers are not letting gloomy economic forecasts affect their holiday plans.

Investors seek 'something different' in the Alps

Fri, 11 Apr 2008 00:00:00 GMT

Overseas property investors who want to buy something different to the norm are increasingly looking in the Alps, according to analysts.

The BuyAssociation website stated that the area is proving to be an appealing choice because it offers a number of lifestyle and financial attractions.

For example, visitors can enjoy numerous outdoor pursuits such as skiing, horse riding, walking, mountain biking and paragliding.

Furthermore, it is an affordable place to reach and is easily accessible for 12 months of the year.

Paul Collins, property editor at BuyAssociation, commented: "You can get low cost flights to the Alpine regions pretty much all year round,"

He added that many people who own properties in the Alps often let them out to visiting holidaymakers.

The comments come after currency exchange firm HiFX recommended that prospective buyers look for an Alpine property in the summer.

Mark Bodega, director of the company, said this is because investors are more likely to get a bargain outside of the peak skiing season.

Italian tourist market ‘benefits investors’

Tue, 27 Nov 2007 00:00:00 GMT

Investors can take advantage of the Italian tourist market by renting property in well-known cities, it has been suggested.

Rhiannon Williamson, director of Amberlamb, described the rental market in cities such as Rome, Venice and Florence as "highly in demand".

"The rental market in these locations is exceptionally attractive: High yields, massive demand, excellent occupancy levels and the ability to target the tourism market as well as the corporate let and long term tenancy market," Ms Williamson commented.

However, she stated that these markets could better suit more affluent investors, as they have high starting and median property prices.

Investors should still consider Italy's property market, which offers consistent underlying capital growth according to Channel 4's A Place in the Sun, because new, cheap flight routes are now available to cities such as Calabria, Ms Williamson suggested.

Up-and-coming areas such as Calabria offer an affordable entry point and good opportunities for investors to achieve capital growth, she added.

Italian province 'offers investment opportunities'

Tue, 23 Oct 2007 00:00:00 GMT

The Italian province of Calabria could be a good option for prospective rental investors, an expert has advised.

Real estate specialist Marco Rossi told the Daily Record said the region, commonly referred to as the Italian Riviera, was attracting an unprecedented level of interest from foreign buyers.

He flagged up the town of Pizzo as a possible market for overseas buyers, as it offered a variety of leisure and historical attractions and was in easy reach of an international airport.

Mr Rossi commented: "This area is already a thriving seaside resort, so properties here will attract good rental income."

He said the current interest in the Calabria market was "amazing", adding that it was currently a "great time" for overseas buyers to purchase property in the area.

Last week, the Telegraph stated that the growth of budget aviation was one of the main factors behind the regions' recent emergence as a hotspot for foreign property investors.

Now "a good time to be a landlord" in Europe

Tue, 19 Jun 2007 00:00:00 GMT

The current European property markets mean that it is a "good time to be a landlord" in the continent, one expert has advised.

Stephen Hayes, managing director and portfolio manager of Perennial Real Estate Investments, said that the growth of Real Estate Investment Trusts in Germany and Italy is part of this improvement, the Financial Standard reports.

Additionally, rising rents and falling office vacancies mean that the market basics will remain strong, he predicted.

Mr Hayes added that the "phenomenon is creating opportunities on a globalised basis [that] are just incredible."

Additionally, Europe contains a large number of people with high incomes due to low taxes, he noted.

Liam Bailey, the head of residential research at Knight Frank, recently advised Britons that there is a great deal of profit to be made through sensible investment in the German property market.