At least one expert believes that coveted Italian properties in prime locations are far more affordable today than ever before, and that people who invest the time to research will come away incredible bargains. Realtor Linda Travella has been in the Italian real estate business for more than 25 years and recently said that properties in places like Tuscany and Lake Como are coming up for sale at prices far below their value. She remarked that “rustic” doesn’t necessarily equal a lot of maintenance and foreign buyers may be surprised at how easy transportation is to and from some of the more remote locations. For more on this continue reading the following article from Property Wire.
People looking for a second home overseas can now buy property in Italy at a bargain price, according to one expert with over 25 years experience in the Italian real estate market.
There could not be a better time to buy in Italy, according to Linda Travella of Casa Travella, as there is a vast difference in what you can buy for your money now and what you could buy in 2008.
She believes too many people think that areas like Tuscany are expensive and as a result few are taking advantage of the current climate. She says that Tuscany, Lake Como and Western Liguria, three of the most popular areas for overseas buyers, are now much more affordable.
‘The great advantage of these three areas is, of course, their accessibility. There are flights to and from Nice and Milan from all parts of the UK and these two airports have great international access, which makes them an ideal base to buy a second home in Italy,’ she says.
‘With remote working it is so much easier to spend more time away from the office but still working and that also means you could consider a total change of lifestyle. Flights to and from Pisa are available from many UK airports and some international destinations. There is a great low cost bus service from Pisa airport to Florence,’ she adds.
Another myth she wants to dispel is that affordable properties are rustic and need of a lot of renovation work. ‘You will be surprised at the type of Italian property you can buy for the money,’ she says.
An example is two bedroom, two bathroom newly restored traditional built apartment in a house in Western Liguria some 10 kilometres from the sea and just an hour and a quarter from Nice airport for €135,000 or £113,000.
In Northern Tuscany there is a property with two and a half acres of land that consists of three separate buildings for €140,000. The main building of about 180 square metres is structurally sound but needs internal restoration and could make three apartments or a large family house. The second is 100 square metres with the third perhaps suitable for a studio.
Another property for sale on Lake Como at €100,000 is in one of the most sought after areas, Tremezzo. The one bedroom apartment is on the first floor of a period building and a five minute walk to the lake and all amenities including the boat, Hydrofoil and bus services to Como, banks, restaurants, and shops.
She points out that the fact that there is more interest in the lower end of the property market is encouraging as these were the first Italian properties to stop selling in the economic downturn.
This article was republished with permission from Property Wire.