Have you ever thought about buying a house in Italy?
You’d be lying if you say you never thought about spending a relaxing summer between the hills of Tuscany, or an eventful week in the busy streets of Milan, or even maybe a happy retirement in the Eternal City of Rome. So the crucial question should be “What is stopping you from jumping on the first plane and purchasing your Italian villa?”, if the warm and sunny weather and the delicious cuisine are not enough to make up your mind, here are 5 more reasons to buy a house in our lovely Country.
1. Low Prices
Even if the myth that Italy is an expensive Country is still circulating between some people, data shows the opposite. Due to the recession that hit Europe in the last years (and in particular the South-Mediterranean Countries) the prices fell on average by 20-30% throughout the penisola. What better time to invest?
2. Several Economic Advantages
There is no better place to save money such as Italy: no inheritance tax, no capital gains tax after 5 years (which can make your resale value by 20%), Euro is at its weakest since 5 years are just few of the benefits that a foreign investor can take advantage of.
Furthermore, and “gazumping” is not allowed in Italy!
Gazumping is when the seller, having accepted your offer, then accepts a higher offer from someone else. This sort of thing is of course more prevalent when prices were rocketing, but it can happen at any time in many European countries. In Italy this cannot happen since, as long as the first contract is worded correctly, it is binding from the outset as long as the offer price is accepted.
3. Large Selection of Properties
Are you afraid of not finding what you are looking for? There is no need to worry in Italy. Because of the recession, a huge range of properties have been put up for sale. From beach houses in Puglia, to mountain chalets in the breath-taking Dolomiti mountains, many owners are ready to negotiate the best prices possible.
4. Rental Returns are Guaranteed
It is no secret that cities such as Florence, Turin or Milan are among the best places to invest in all the world. The never-stopping tourism stream in these cities can guarantee the opportunity of investment return throughout 365 days, just imagine having a place in which you can rest and enjoy life, and, when you are not there, it can make you earn thousands of dollars yearly.
5. The Value of Beauty
With no less that 49 Unesco sites, including the historical city centers of Florence, Naples, Rome, Siena, San Gimignano, Verona, Venice, Torino, Italy has its majority of cities protected from urban development more than any other place on Earth, as a result of this high status, homes close by the centre of a UNESCO city acquires more economic and historical value.