Sunday, June 20, 2010

So You Want to Buy Property in Italy?

Italy is a country that many visitors seem to fall in love with. And more people, as they become more established, are becoming interested in buying property in Italy.

Is real estate in Italy a good investment for you? Let's explore the possibilities.

If you want to buy Italian real estate, research the cost of property, currency exchange rates (if that is a concern) and other technical aspects. Many people also factor in the possible lifestyle. The climate may be quite attractive to you, as well as the famous Italian food, the world-renowned culture and the possibilities for rewarding outdoor activities.

Here are some points to consider, if you are interested in Italian real estate:

How safe are prices for Italian real estate?

There has been steady growth in the property market in Italy for years now. It has slowed down a bit lately, but it will be very promising for many years to come.

Property investors and second- home buyers have been coming here for a long time. And though this means that in some areas property prices are high, there are still plenty of good areas for the new buyer to explore. This includes both city and rural properties.

As well, the government is planning to spend many billions of Euros in the next few years in the south, for economic development. Thus the infrastructure will improve and property value will increase.

If we don't live in the house, at least in the near future, how will we pay for it?

First, as prices are likely to rise in the future, it's best to buy sooner than later.

Second, there is always the option of renting your property. Major cities are always popular destinations and thus there is a need for rental properties; country houses in good condition are also eagerly sought after.

Where should we buy property in Italy?

Is price more important to you or location? If you like the city life, for example in Rome, Venice, Milan, etc, you are likely to pay a high price for your Italian home. But of course if that is where you want to live, it's worthwhile.

Some areas that are recently touted as good places for property investment include Calabria, Marche, Basilicata and Abruzzo, among many others. These areas may not have much of an international population or reputation, but it may be what you want.

Rural areas and south Italy are becoming less isolated also, which can be a plus for you. The Italian railway system is becoming more efficient and more airlines are flying from northern Europe to areas of Italy that were previously off the beaten track.

An upscale Italian home around one of the famous lakes, such as Lake Maggiore or Lake Como, is likely to be quite expensive, and not for everyone.

A good real estate agent of course is an important source of information to help you find the right property in Italy for you.

Will we like living in Italy?

Of course if you prefer an overpriced country with a cold, overcast climate, where there is little culture, average food, no outdoor activities, no fantastic nature and unfriendly people, then definitely you don't want to live in Italy.

Need I say more?

So, to summarize buying property in Italy is a safe investment,

For the large scale property investor there are the above advantages and a promising market which is tried and true but which also has new, untapped areas, making Italian real estate a most exciting and promising venture.
(ArticlesBase SC #679344)

Donald Nelson - About the Author:
Annalisa Angellotti is a staff writer for Gate-Away, a company that provides property and real estate listings in all parts of Italy. If you are looking for property in Italy then be sure to visit http://www.gate-away.com for some great deals on Italian real estate.
Source:  http://www.articlesbase.com/real-estate-articles/so-you-want-to-buy-property-in-italy-679344.html