Category: Italy

Property in Italy

Ryanair reintroduces London-Calabria flights

Calabria Property InvestmentOverseas property investors who have real estate in Southern Italy will be pleased to hear that low-cost airline Ryanair are about to reintroduce their London-Calabria flights.

From March 2011 Ryanair will be operating flights between London Stansted and Lamezia Terme in Calabria three times a week – on Mondays, Wednesdays and Fridays. From April, they will also be operating a Sunday flight.

The Lamezia Terme airport has already announced that they are improving the airport to include extra parking spaces and a new low cost airline terminal as well as a new exhibition space and airport hotel. With the reintroduction of Ryanair flights from London, there is expected to be a large increase in the number of tourists flying into the airport each year.

Italy’s Great Real Estate Sell-Off

Fancy owning a piece of Italian history or culture? Or maybe you fancy your own island off the coast of Sardinia or Venice? If you have the cash, you may be in luck as the Italian government is set to sell off around 9,000 properties.

Amongst the sale are palaces, beaches, islands and forts estimated to be worth in the region of $6 billion. Italy’s current debt is around $2.3 trillion.

Some of the highlights of the sale include:

Buying Venice Property

Venice is one of the most beautiful of the Italian cities and is unique in that it stretches across 118 small islands in the marshy Veneitan Lagoon. Famed for it’s beauty, many of the property owners in Venice are very wealthy and the best-positioned, most beautiful homes will usually have price tags with eight-figures on them.

However for property investors who wish to invest in property in Venice, Italy, it is possible to buy Venetian property for a lot less money.

Italian Nude Sales Increase

Elderly Italian property owners are increasingly turning to a form of property sale known as a ‘nude sale’ to help them through the worst recession since 1975.

Nude sales are when an elderly person sells their family home, normally to a stranger and at a significant discount, on the condition that they are permitted to live in the property until they die. The purchaser also normally pays cash for the property. These sorts of property sales are known as ‘nude sales’ because the property owner is totally stripped of ownership of the house.

Taking a punt on Italian property?

Last Tuesday, Prime Minister Silvio Berlusconi announced he would be carrying through his campaign pledge to eliminate the main Italian property tax at the first meeting of his new government. So is this a good time to take a bet on Italian property?

The principal Italian property tax (ICI) will cost a lot of money if it is abolished – it is estimated that around 2 billion Euros will be lost. Sceptics claim that if Berlusconi is intending to put all of his pre-election pledges through, he will require 63 billion Euros to fund them all and promises are all well and good, but finding the money will be a lot harder.

Le Marche: A cheap alternative to Tuscany

Are you looking to buy in Tuscany but aren’t too keen on the prices? Le Marche (pronounced Mar-Kay) may be the alternative you are looking for.

Up until a few years ago, most property investors would not have looked twice at the region however that is starting to change. Italians themselves are flocking to the region alongside the British. The main attraction of the area is the prices – they are much lower than their surrounding neighbours by up to 40%, and yet the area still has beautiful stretches of coastline and beaches. A one-bedroomed flat will probably cost in the region of $200,000, with a three bedroom three-storey townhouse in the $650,000 region, although it is possible to pick up farmhouses from as little as $100,000.