2014 has been a good year for the Italian property market and to buy Italian property, with bargains still to be found in many areas. If the 1st quarter of 2015 is as busy as the 1st quarter of 2014 then this will be a very positive sign indeed and I can see no reason why not. The € is weaker against the £ which is a great advantage and of course encourages clients to purchase more readily.”
There are certain areas that have been popular in 2014 and I see this trend continuing. These include: Puglia, Lake Como and Tuscany.
The Tuscan market was hit the worst in the 2008 crash and that means that the possibility of finding a good buy in Tuscany is still excellent. If clients want to puts their property on the market at an inflated value will not sell as there are too many sellers prepared to negotiate to obtain a sale from a buyer who has the ‘cash in hand’.
You can buy a fully renovated apartment close to Volterra furnished or unfurnished with shared pool, starting from as little as €260.000 for 2 bedrooms (view property)
The Lake Como market predicts that it will see the return of the British buyer, with a decrease in the Russian market but the Swiss and German markets doing well. The market of €500.000 plus is expected to be more buoyant in 2015.
The market of €150,000 and under returned in 2014 and I see this trend continuing. Why leave your money in the bank or building society and receive hardly any interest, shares also lost value between April and October 2014 so an investment in property seems a much better option.
I think the 1st quarter of 2015 will show a great deal of interest but with that starting towards the end of January with clients viewing in February, March and April (Easter).
We are seeing more interest from the UK market than in the past 5 years with the Europeans still also very interested buyers. The US market seems to be also showing some interest compared to the past years with some clients already talking of viewing in the 1st and 2nd quarters. Puglia saw a huge surge of interest in 2014 but with many buyers ‘just looking’, I can certainly see those buyers returning to purchase in 2015.
The market of €500,000 plus is also returning with interest in properties of that price and over a million. The most prominent areas in that market are Lake Como and Liguria. Non Europeans are also looking to Italy for investment, so I would suggest that the ‘Brits’ hurry up before all the best buys are gone!
Apart from the above areas I feel that the other 2 areas that should be considered for 2015 are, The Dolomites, property is hard to find but a great investment and not just for skiing, and Southern Le Marche, where you can find a property by the sea at much better value that on the Tuscan coast!
Wherever you choose we feel that an investment in Italian real estate will give you an excellent choice and value for money in 2015.