Believe of Italy and you are most likely to think of its appreciate affair with fashion and rapidly vehicles than a second residence in the sun. Outstanding cuisine, delicious wines, stunning countryside and a wealthy cultural heritage all still figure but the eternally stylish nation has been more regularly than not a leader not a follower when it comes to property trends. Until now that is.
Casting off its underdog status in the last few years, Italy is rapidly usurping conventional favourites like Spain and France with its eclectic range of state of the art villas and dilapidated country houses ripe for restoration.
A Tuscan Tale (Of Caution)
The nicely trodden path from Tuscany is an immediate favourite for initial time home hunters eager to appreciate familiar creature comforts. Fulled by a thousand postcard images, it's already a challenge to uncover an apartment or villa nicely matched to a modest investment budget. The canny bargain hunter should really instead appear to the east and venture into the lush countryside of Umbria. Only an hour or so from Florence by train, Umbria is an area largely unspoilt and un-chartered by foreign buyers.
The only land locked region in Italy, Umbria and its capital Perugia overflows with an abundance of culture and history. Household of the Etruscans and a suffering an embarrassment of riches when it comes to the arts, Umbrian property hunters focusing their search on the regional capital will obtain apartments and country properties with ease.
Modern day builds are couple of and far among in the rolling valleys of Umbria so expect to invest time and funds prior to renting the property out. This investment is offset by low initial acquire prices - anticipate to pay around 40,000 euros for farmhouses and casali (old country properties) requiring some degree of restoration.
La Dolce Vita?
One more new region worth investigating if you want to invest in property in Italy is Puglia on the boot's southernmost tip. Property costs in Italy are normally less expensive the further south you venture, generating the coastal region ripe for investment. Hemmed by the Adriatic sea, the inner reaches of Puglia are bedecked with olive groves and fruit orchards.
Adding a Puglian property to an investment portfolio is a good bet for rental income - the gentle climate and network of criss crossing cobbled streets, sandy beaches, medieval towers and sun-drenched piazzas make it an up and coming holiday destination. New, two bedroom apartments in the town of Vico del Gargano can currently be found for less than 60,000 pounds.
In nearby Naples, comparable ground or very first floor properties with garden and swimming pool are on sale for around 38,000 euros showing just how significantly it pays to shop around. As Naples is already a name familiar to lots of, anticipate summer rental incomes of about 1500 euros per month.
Although the Italian government does not place any restrictions on foreigners acquiring property in Italy, it is at all times worth engaging an English-speaking lawyer to guide you through the Italian property marketplace minefield. Without having one, would you know what a compromesso is or when it is signed for example? A great lawyer will advise you at just about every stage of the purchase, from agreeing terms to advising you when to location the deposit and what percentage of the cost is needed by law.
For additional specifics about property investment in Italy and details of Italian property for sale, go to or email:
About David Stanley Redfern Ltd
David Stanley Redfern Ltd is an overseas property specialist, working directly with developers in alot more than forty countries. Most properties are exclusive to David Stanley Redfern Ltd, giving an unparalleled choice of resale and new builds.
