9 Apr 2009
Perhaps the most romantic city in the world and a remarkable construction.
After many problems of war, plague etc it rose again in the 19th century to become
the fashionable spot on the Grand Tour.
The city has depopulated dramatically since the 1950s, and by going a little off the main tourist routes you can find reasonably priced property in Venice.
The good news for anyone contemplating buying a home in Italy is that the Italian property market is not expected to crash spectacularly like the Spanish housing market, nor is it expected to witness major drops in underlying real estate values. Such is the opinion of economists surveyed by Reuters who instead believe that the market will simply remain subdued in Italy throughout this year and next.
Maximizing Profit From Off-Plan Investment in Italy
Prices never remain low for long and, as construction progresses, prices begin to rise steadily. In Italy, as in any other market, it is important to buy as soon as possible during the early stages of development when prices remain very competitive but are already beginning to rise. Early investors will invariably see the greatest returns.
Purchase the best units
Early purchase allows investors to choose the most sought after units on any given development. The best units always offer higher capital appreciation in the smallest time frame and can often demand the greatest rental incomes. Lake or sea view are always firm favourites.
Price increases as development matures
As the development begins to be constructed, the value of the units begins to rise. A completed show home is normally available for viewing at this stage, while buyers are taking less of a risk as they now do not need to rely 100% on plans.
Price appreciates as more units sell
As more units are sold, the price of the remaining units rises. Units sell faster when buyers are able to physically see them. To the early investor this means that, should you decide to sell your property, it will be worth considerably more at this stage than when you made your initial purchase and paid the deposit. It is also very common practise to re-sale the property upon completion of building works without having first transferred the title deeds from the construction company, which allows the investor to save on purchase taxes and notary fees, but earn on the appreciation gained during the construction period.
Excellent Rental Prospects
For those who are interested in the buy-to-let market, the high tourist numbers coming to Italy are encouraging. Investing in the north and around the lakes can double your rental prospects as you can benefit not only from the summer season but also from winter ski holidays. A one bedroom apartment within a residence with swimming pool can easily expect to realise €.1000,00 per month in rental during peak holiday period Jun-September on Lake Garda.
Amazing towns awash with sumptuous art, colour and life; incredible food, lagoons and beaches, nature and wildlife oasis; all can be found in the wonderful region of Veneto, which has, at its heart, the enchanting maritime town of Venice. The region has excellent communication links and property is readably available at prices that are for all budgets. What could be better than having your own place in the most beautiful city on earth?
For further information see Realpoint's Guide to Venice