European Real Estate? Italy is the Place to Be
Thanks to Hollywood’s romanticized depictions of Italy, not to mention its colorful history and culture, many dream of living there and owning real estate. Italy actually makes it possible. Very much possible for foreigners with enough cash and courage to take that Mediterranean plunge and leave the new world back to the old one.
Italy is actually one of Europe’s healthiest foreign real estate markets along with Norway, Sweden, Greece, and Croatia with thousands of very affordable properties for sale, with hardly any restrictions. Along with Greece and Croatia, when it comes to real estate, Italy’s properties (https://www.bluehomes.com/Immobilien-Italien-kaufen-verkaufen/kat.html) are even more affordable than those in the United States or in the UK.
Italy has few restrictions when it comes to foreigners owning real estate. Overall, the country is considered a “no restrictions” country so foreigners can own land there without much ado. But like all countries, the prices of properties there is dependent on location, though there are plenty of affordable regions such as Sicily and Tuscany. But buyers need to watch out for homes that require much fixing and renovation and may be in very rural areas.
As an example of pricing, a good two-bedroom, one bathroom apartment will cost about 180,000 euros in Tuscany. A good two-bedroom, two bathroom detached home in the same region can cost a relatively affordable 300,000 euros, quite affordable for many with exotic European ambitions. These investments can easily be recouped by flipping the home or converting them to bed and breakfasts for fellow travelers. Other affordable pricing of real estate in Italy includes a two-bedroom homes in Sicily for a small 100,000 euros or a 2-bedroom apartment worth 75,000 euros in Calabria.
What to do? Home buyers who wish to purchase in Italy needs to find a good local agent or lawyer who knows the market, who in turn finds a reliable local agent in the country. There are plenty of websites to look up those properties and the home buyers can prepare all the needed requirements and leave the rest to their trusted agent.
