There are so many reasons that make now a great time to invest in Italian properties. The first one is that the real estate market in Italy seems to be stabilizing and 2014’s statistics show the first indicators of recovery since the economic crash. In fact, a recent report by PwC and the Urban Land Institute suggests that Italy can offer some of the best property opportunities in Europe.
At the moment it is possible to buy valuable properties for very good prices, especially in the most popular areas of Italy as Tuscany, Lake Como and Puglia, as well as in the newly discovered spots of Le Marche and Umbria, where properties can be up to 1/3 cheaper than in Tuscany.
At this time, you can find a wide and good choice of properties for reasonable prices, something you couldn’t even imagine in the past and, if you are good in negotiating, you may be able to further decrease the selling price.
Strong GBP/EUR exchange rate means bargains for UK buyers
Pound is currently very strong against Euro – hitting a rate of 1.30 on Thursday 15th January for the first time in seven years and it may get even stronger.
There are expectations that 2015 could be the year that UK interest rates finally begin to rise, which could mean a boost for sterling. There is no exact science behind the currency market, making it important to be constantly aware of market movements and the factors that cause these.
Of course, the current strong GBP/EUR exchange rate means that prices are much more affordable wherever you are looking in the country. An Italian property on the market for €500,000 will currently cost a British buyer £384,615. This time last year, when the rate was 1.20, the same property would have cost around £416,666.
Why so many people from overseas are investing in Italian properties?
Experts suggest that this is due to investors choosing to spend their savings on properties instead of leaving money in the bank where it receives no interest. Property investment gives them something they can use, and even generate an income from by renting out, to cover expenses and have a profit.
Additionally, buying a house in Italy equals to buying gold: it is a life investment, that will always give your money back with profits.