It Is Still Possible to Find Cheap Property for Sale in Italy
Published on Tuesday, October 27th, 2009
With the pound wallowing in the doldrums against the euro it’s not been a good year for Britons who have holidayed on the continent – everywhere has appeared so much more expensive relatively speaking to Brits, but at the same time we are all aware that it could swing the other way any time soon. This is just one of the reasons why the strong euro still hasn’t put Brits off wanting to buy a home overseas!
Other reasons include the fact that Brits still want to escape UK – even if it is now more expensive for them to do so, and money is never a real reason to stop people dreaming. However, money is of course an incredibly useful tool when it comes to buying a property abroad, so because of the weak pound and the fact that Brits still want to live their dream of owning a home abroad, we thought we’d investigate and see whether it is still possible to find cheap property for sale in Italy.
Italy is one of the most idyllic and dreamt about locations overseas where Brits would love to own a home – it is also traditionally expensive! So we thought that if we prove that you can still afford your dream in Italy, then you can probably still afford your dream full stop. See, there is hope in these bleak economic times – there is an escape from the British winter and the British recession. Read on to see our top picks of what’s currently available for under 100,000 Euros in Italy.
There’s a myth abounding at the moment that the property crash in the UK has been mirrored in all other nations in the world – however, that is very far from the truth. Whilst it’s pretty undeniable that most countries’ economies have been negatively impacted by the fallout from the banking crises in the US and the UK and the resultant recessions that are continuing to be an ugly reality, not all countries in the world had property markets as precariously poised as the UK’s!
You may be considering taking out a mortgage to finance your Italian property purchase or renovation project, opting to go through a UK mortgage provider or alternatively by approaching a local Italian bank that deals in mortgages. But you need to appreciate that things in Italy tend to work slower and often less efficiently than they do in the UK when it comes to mortgage financing.
Whether you’re buying a brand new property in Italy, you’re interested in doing up an ancient farmhouse or you want to build from scratch, it is our view that an experienced project manager can be totally invaluable to you.
It can be daunting enough buying a property in your local country, but not understanding the local language and what is going on around you can simply add to the stress when you buy a home abroad.
Alison Harris is a British trained lawyer with such a strong passion for Italy that this has led her to become a bilingual freelance project manager assisting Britons and Europeans with their purchase, development and on going management of property in Italy.
The good news for anyone contemplating renovating a home in Italy is that the Italian property market is not expected to crash spectacularly like the Spanish housing market, nor is it expected to witness major drops in underlying real estate values. Such is the opinion of economists surveyed by Reuters who instead believe that the market will simply remain subdued in Italy throughout this year and next.
Before you rush into the idea of relocating to live in Italy permanently, or before you rush off and commit to a property purchase, it can be advantageous and make a great deal of sense to think about renting property in Italy first.
