Top 10 Tips to Investing in property in Italy
January 17, 2010
Here are the top 10 tips for purchasing property in Italy which have been provided by a client who recently invested in a Calabria property.
It is advisable to use an independent solicitor to handle your investment.
The client said that they talked with a selection of lawyers and enquiried exactly what they would receive for the money.
If possible try and hire the services of an English and Italian speaking solicitor.
Check the Law Society register to make sure everything is above board with the solicitor you pick and if possible talk to other people who have used there services for a recommendation.
Always make sure you have a bank guarantee to cover you for the full term of the build of your apartment and check that you are covered with a financial compensation if the building works get postponed.
If you agree any extras with the builder or agent, make sure they are written into your contract and exact details agreed.
Agree that your contract is wrote in both languages, English and Italian.
When you receive your finalised contract, check to make sure that it is signed in the relevant places by both you, the buyer and also by the vendor of your property in Calabria.
Find out the building companies details and if possible check out other examples of the work.
Try and visit the development at least once to view and check the building work progress, or hire the services of a Management company who will check the build process for you and supply you with regular updates on the development progression.
Always recommended to carry out a snag report on your property before you complete.
Make sure you check the situation relating to any condominium charges, what the costs are and what you get for the money.
Here is a video so that you can see what type of developmets are available in calabria and also see some of the areas.
Calabria is an emerging market with massive potential thanks to an excellent coastline and beaches, crystal clear warm waters, spectacular mountain landscapes, low cost of living, current low property prices and excellent holiday resorts and properties being developed.
One would expect the property prices in Italy to be high and they are in the North and traditional destinations like Tuscany. This is because Italy does have a lot of wealth and cultural treasures especially in a lot of the traditional cities like Rome, Venice, and Milan for example where property prices are very high.
However there is quite an inequality or difference with regard to the wealth of the north of Italy and the more traditional destinations than that of the southern most regions and especially Calabria which has traditionally relied on farming and agricultural sources of income. This is one of the reasons why you can still find a good bargain property in Calabria.
Calabria’s magnificent landscapes, fantastic coastlines, excellent climate, and traditional Italian charms all with very affordable prime location real estate it is easy to see why Calabria is starting to attract a lot[s/pin] of attention from both property developers and investors alike.
In our opinion it is the perfect time to get involved in this market, property values are increasing constantly as the region develops but you can still [spin]purchase great value property especially the off plan developments being built, check our website regularly for the latest investment opportunities
We hope these tips will help you and wish you success with your investment or holiday property purchase and also visit our website for up-to-date Property in Calabria for www.experience-international.com
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