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Secrets of buying in Italy
Few overseas buyers and investors from Southeast Asia have Italy on their radar right now, but that could change in the coming months as more is known about the southern European country and its benefits for property investors.
To discover more we asked Italian property expert Linda Travella, Director of Casa Travella, who has been selling property in Italy for 25 years to reveal her top 10 reasons to buy or invest in property in Italy.
1. There is no inheritance tax. I know that is hard to believe but its true and not enough people know about it.
2. There is no capital gains tax to pay after five years in Italy.
3. Gazumping is not allowed as long as the sales contract is drawn up correctly.
4. The weak European currency right now means even more value for money for investors from Southeast Asia.
5. There is a fantastic selection of properties, and whats more that are realistically priced.
6. Italians welcome children.
7. Properties are easy to rent.
8. It is easy to travel, so you can use your property more often if thats your chosen ownership option.
9. There are activities for all ages, and Italy is renowned for its shops, art, food, wine and sport.
10. When it comes to foreigners, Italians are friendly and helpful people.
Here is a selection of three properties in different areas of the country to whet your appetite.
Ostuni in Puglia is priced at 145.000. It is a lovely three-bedroom villa and lamia, sitting in three acres of land and with 160 olive trees which produce about 400 litres of olive oil per annum.
Castelfalfi in Tuscany is on the market for 560.000. It is a beautiful five-bedroom farmhouse with swimming pool and currently has two apartments and is very close to prime golf courses.
San Siro on Lake Como has a price tag of 269.000. It is a stunning complex of one-, two- and three- bedroom apartments on the shores of Lake Como, with a heated swimming pool, solarium, the and possibility of boat moorings.
Andrew Batt, International Group Editor ofPropertyGuru Group, wrote this story. To contact him about this or other stories emailandrew@propertyguru.com.sg
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