Buying an apartment in Borgo Novo, Calabria (marketed as the real Riviera!) in Italy

J

JKT

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Does anyone have any advice or experience in buying an apartment in Borgo Novo, Calabria (marketed as the real Riviera!) in Italy from Larionovo ? Just wondering if E95k is good value for a 1 bed apartment close to beach?
 
Re: Buying an apartment in Italy

Surely,

Only you, after your own careful research, can decide if this is good value for you, compared to other similar properties. Anyone else's view is just their opinion, and if it's an agent who responds, well, they have their own agenda, don't they ?.

There is no substitute for visiting the area and doing on the ground research. If you "haven't got the time" then you should perhaps be looking at a different type of investment (if that's what it is) or if for a holiday home, an area where you can find time to visit.
 
Re: Buying an apartment in Italy

95k for a one bed sounds hugely overinflated to me. I was over there just before Christmas with my sister who bought a good sized one bed with sea views for about 58k. She used a property agent in Monkstown, a lovely guy whose been involved in this area for years. She also talked to Larionovo but they were full of it, very high pressure sales talk, telling her that there were direct flights from Dublin to Calabria which is absolute BS.
Like BigRog said, I'd do a bit more research if I were you and go over and see the place, it's fab, much poorer than the rest of Italy, but a lot more authentic, if you know what I mean?
 
Re: Buying an apartment in Italy

This particular area of Italy is probably one of the poorest. A friend of mine is in the property business ( not Italian but overseas)and lives out there - he has indicated to me that land can be purchased for a few pounds per square meter and that the locals wont afford these new apartment complexes. So to answer you question - you are more than likely paying higher than market value. Additionally I have to say purchasing in Italy at those prices is much better than purchasing in Bulgaria or Turkey. The big question is whether or not the rental market for these properties will take off! Probably not in the immediate future but if access improves it could well become an interesting location. I would assume you have had everything checked out - looked a deal 3 years ago in this area; however, nothing came from it as a result of some major title deed issues - suggest you have this thoroughly checked out.
 
Re: Buying an apartment in Italy

my advice

ask for a copy of the planning permission, ask for a copy of the preliminary contract which I hazard is heavily loaded towards the developer (completion dates, having to pay if the resort isnt complete with your apartment), do some research on giambrone and law before you use them, travel to the place and meet the developer - after that you will know in your gut whether to buy there or not
 
Re: Buying an apartment in Italy

An important thing to bear in mind when buying in Italy is that the Italians themselves prefer a ground floor apartment. Therefore the idea of purchasing higher up the development and paying a premium for that does not really apply. For a luxury apartment one bedroom frontline to the beach you should pay 80/85k max.
Also, the Italians love a garden space or roof terrace with their rented apartment space so this should be a priority
 
Re: Buying an apartment in Italy

JKT, have you bought in Borgo Novo in Calabria? Any problems?
Anyone else bought in this development?

I'm going over to have a look at the area in feb - looking for a 2-bed apt in Pizzo or Tropea.

Thanks,
Z
 
Re: Buying an apartment in Italy

When you say Tropea do you mean the town or the region? The town of Tropea is extremely expensive and there are no new builds. Many projects that market themselves as Tropea are in fact in the region, as in 12/15 kilomteres from Tropea Town.
You should also look at Scilla. Scilla is classed as "the mini Tropea" near Reggio, and looks straight across the straights at Sicily.
An apartment purchase in Scilla would make for a far better investment than a purchase in mass marketed apartment complexes
 
Re: Buying an apartment in Italy

No Zagorka, Im hearing too much negative press about Borgo Nova.

However, On TRMA's point about Scilla, I presume you mean the apartments for sale at:

[broken link removed]

Are these a good buy? What is the area really like? What is the best way to get there?
 
Re: Buying an apartment in Italy

Yes, it does. All my posts are tagged with our website address (so I'm not hiding anything) and regular viewers of my posts will see that I regularly state that I am part of an agency, involved in the industry or a specific market etc. If you bring up my posting history you can see this.
I always abide by the posting guidelines. I have been involved in the overseas property industry for 6 years now and my reputation as an property agent is beyond reproach, and as such I believe that my opinions are as valid as anyone elses. Also, our organisation is a founding member of AIPP, the Association of International Property Professionals and we must abide by the code of ethics set down by this organisation.
 
Re: Buying an apartment in Italy

The area and town of Scilla is a beautiful area and many people actually prefer Scilla to Tropea and in my view offers a lot better value for money.you would be paying around twice as much around tropea with probably a lot less accesibility to the beach.
 
Re: Buying an apartment in Italy

TRMA,

I did not notice that any of your posts were tagged with your website address. I was not aware from reading this thread that you were actually selling in this region until the issue was raised by Twentyfour. Presumably the selling agent being spoken about is a competitor of yours.

Askar
 
Re: Buying an apartment in Italy

Askar, what's your point?
Whether you "noticed" the web address or not, it's clearly stated. How would you like me to present my views, opinions and market knowledge on the site?
 
Re: Buying an apartment in Italy

TRMA said:
Askar, what's your point?
Whether you "noticed" the web address or not, it's clearly stated. How would you like me to present my views, opinions and market knowledge on the site?
Click to expand...

TRMA - I dont see your posts tagged with a website address either actually.
 
Re: Buying an apartment in Italy

In my experience of the site, when you post, immediately after, the website address signature is removed from all posts, presumably while the web link is checked by an administrator to check it's source etc. Shortly after, the website signature is applied to the new post and put back on all previous posts. If you're worried about it I suggest that you contact the site administrators as it is out of my hands.
 
Re: Buying an apartment in Italy

TRMA said:
In my experience of the site, when you post, immediately after, the website address signature is removed from all posts, presumably while the web link is checked by an administrator to check it's source etc. Shortly after, the website signature is applied to the new post and put back on all previous posts. If you're worried about it I suggest that you contact the site administrators as it is out of my hands.
Click to expand...


Ive no idea why the tone of your responses on this issue are so defensive
when it would appear its a perfectly innocent query - however I have discovered the answer to whats going on.
If you are logged in you dont see the tagline. If you are logged out you do.
 
Re: Buying an apartment in Italy

Its not a case of being defensive, its just the implication in Askar's post is that I'm not adhering to the forum rules by declaring a vested interest. The purpose of the web signature is to show that I am an agent. Anyway, I'm glad the issue is cleared up.
 
Re: Buying an apartment in Italy

TRMA said:
Its not a case of being defensive, its just the implication in Askar's post is that I'm not adhering to the forum rules by declaring a vested interest. The purpose of the web signature is to show that I am an agent. Anyway, I'm glad the issue is cleared up.
Click to expand...

I actually did not interpet Askars post as impying that at all, simply that he/she could not see the tagline and was unaware that you were an agent until mentioned by someone else. Thats a reasonable point to make when in fact the tagline does not exist if you are logged in.

Im sure if you were not adhering to forum rules a moderator would draw your attention to it.
 
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