Italy - Investment

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Tonisop

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Hi, this is my first time to use this service but i have recently been reviewing the input and information in discussions and their seems to be plenty of knowledge out their so i hope i can tap into some of it. Basically i'm looking for information about properties and price ranges for a 2 bed apartment in Calabria in Italy, i have been reviewing EU investment plans for the area and the expected tourism growth etc which seems like it is a possible good investment area. I have been looking at the San Lucido area which is 30-40 mins from Tropea currently however with future upgrades to infrastructure this may reduce. However the apartment price was 136k + VAT, does this seem too high ? the devlopment has 2 pools and a private beach, bar, restaurant etc and is 10 min walk from the town. It does seem to have a lot more perks than most developments in the area as it was intended for a hotel but has changed useage, however the price range seems high for the area and the distance from Tropea (main tourist location in area). This side of calabria coast does seem to have stricter planning restiction than other coast were apartments are cheaper but since I am mainly looking for capital appreciation for possible sell on, i'm wondering has anybody advice on the area ? price range ? etc ? any feedback would be greatly appreciated as i have taken most of the real estate advise with a pinch of salt...and yes i have visited the area and it looks to be good but it does seem to be over the odds as avearge 2 beds in Tropea are 125K + VAT.. thanks in advance..
 
Tonisop said:
However the apartment price was 136k + VAT, does this seem too high ?
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How much are similar properties selling for in the local estate agents' windows as opposed to such properties pitched at foreign investors through other channels?
This side of calabria coast
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While I would really love to own a property in the likes of Calabria or Sicily I would have severe reservations about buying there given the ongoing predominance of certain unofficial organizations in society there. If you get my drift...
 
ClubMan said:
While I would really love to own a property in the likes of Calabria or Sicily I would have severe reservations about buying there given the ongoing predominance of certain unofficial organizations in society there. If you get my drift...
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You took the words out of my mouth Clubman, I have had the good fortune to work with many southern italians and that was a recurring theme amongst them.
 
For the money you are pitching you would get a lovely condo/apartment north of Milan in Lake Como. The Don's do not travel that far. As well as good weather during the summer, it is close to snow resorts for skiing in other seasons. Given that George Clooney lives nearby it is firmly on the tourist trail. Finally within 25km of Milan, a city with plenty of critical mass.
 
Hi Tonisop,
Have you looked at the MRI website? They are launching new develops in Calabria. I reckon it could be of help for you to compare your price with the new builds. The area itself is at expansion and lots of investors from the UK are coming to South Italy to invest. Although I am Italian I wouldnt be keen on either Calabria or surrounding areas, i.e. Puglia unless the people you buy from are corporate businesses or professional people with a command of the English language, both spoken and... in writing! Hope it can help. Regards, Alessandro
 
Hi Tonisop, I'm also new to post on AAM but have been on the site for a few months aswell.
I'm interested when people look at Calabria,
 
Hi Tonisop, I'm also new to post on AAM but have been on the site for a few months aswell.
I'm interested when people look at Calabria - and I have my reservations, for the same reasons as Clubman mentions, and having seen some of the stuff being built on the Black Sea coast in Bulgaria, I'd be inclined to look at town or city centres where rental income & a genuine resale market can develop.
I don't deny the area, the food and climate etc are all wonderful, but if it's an investment, and specifically for cap appreciation, I would really focus on an exit strategy. Will somebody want to buy here in x years time, or will there be new developments which will be more attractive to purchasers...
Whatever you choose to do, good luck!
 
With Calabria, and the south of Italy in general, I get the sense that if it was going to "take off" it would have done so by now. There's no shortgae of space there, so selling on might prove problematic (e.g. if gleaming new properties are being built up the road, why would someone consider a second-hand one?)

As an earlier poster has said, the same money will get you a nice property in a more developed part of Italy with greater and more direct access from Irish airports.

A quick search of Google will give you sites for locally-based property agents, many of whom have English pages.
 
I'm interested in Italy too - but as a (cheaper) holiday home, not an investment. I doubt if capital appreciation will be particualrly world beating in Italy.

But on the subject of the Dons as a reason not to buy a holiday apartment, does anyone have any actual concrete reason for not buying a holiday apartment because of this? Anyone been approahced and asked for money, or had the developer actually turned out to be a don and had their apartment confiscated by the authorities. I'm trying to see if there are real disadvantanges because of this or have people been watching too much of the Sopranos?
 
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