With overseas property investment going through choppy waters, where better to see out the storm than by Italy’s tranquil Lake Maggiore, at a quality development in a stunning location.
Nowhere is immune from the property down turn, but some countries are better placed than others to fend off the problems and falling prices. Italy with it’s mature property market and quality properties set in beautiful locations, makes it no flash in the pan. The country has strict planning controls, has controlled the level and quality of developments and its banks are smaller and traditionally conservative with their lending, which has resulted in less exposure to the sub-prime quagmire.
Like most European countries it has seen steep property prices rise over the last decade and this is now ending. House prices are expected to remain at the same level in the second-half of 2008, at around €2,400 to €3,000 per sq. m. However, properties in prime locations are less effected by the down turn.
Real Point Property is an Italian property specialist with years of experience of helping clients find their perfect Italian holiday home, investment or even to start a new life in the country. They are well placed to know what the current situation is, Eddy Crompton gives his outlook on the current market. “Clients are not a homogenous group. There has been a falling off of clients who are really on a tight budget and who, in the past due to the confidence they felt in the UK, would have perhaps bought to fulfil their dream even though it would have meant cuts elsewhere in their life style. Buyers who want to purchase abroad but are reliant on selling their UK property are having to hold out, because they are not finding buyers as quickly as they might have done a year ago. Moving upwards budget wise, we get to a group who remains relatively unaffected by the economic down-turn. These clients can buy without selling and perhaps are looking to retire or buy as an investment and are in it for the long term.
See out the Credit Crunch at Cure Naturali di Ghiffa
Follow in the footsteps of Byron, Goethe and Stendhal and take inspiration from the shores of Lake Maggiore. A new residential development on the site of a 1920’s natural care centre, which will include a restaurant, a wellness area, a swimming-pool and shops. The development is sympathetic to the natural beauty of the area and with it’s dramatic views of the Lake, the limited future development by the lake and affluent surroundings ensures it is in a strong position to avoid the worst of the global property down-turn and offers a lifestyle that is priceless. The properties are also in an ideal location for holiday rentals, and the developer has held back 50% for themselves to rent out to tourists.