Italy’s commercial real estate market is turning into an important investment prospect. Those who are interested must act in the soonest possible time as the chances of returns are most likely to be gone by the end of 2015.
According to CNBC, Portfolio Manager Joel Wells at Alpine Funds has explained why it is time to invest in Italy’s property market. Alpine Funds is a New York based asset management company.
Wells said that the market conditions in the country are reflecting those evident in other European countries such as Spain and Ireland following the global financial crisis, in which rental rates and returns on assets take a dip and credit dried up.
On more enthusiastic note, the Italian property market reportedly still remains as a stimulating market for investors to put their money in. According to Property Showrooms, Italy is a highly active tourist market therefore Italian properties are attractive prospects.
It was also said that wise investors are forecasting that if one buys from the Italian property market soon, that investor will have an advantage of a surge of investors who will be flocking in Italy for the same reason.
According to Property Showrooms, in terms of commercial activities, low-budget airlines have more access to many of Italy’s regional airports. It is believed that the once unpopular locations will eventually increase in value as more people have access to them. Example of these new locations are those found in the islands of Sicily and Sardinia where property prices are more or less 25 percent lower than on the mainland. Other regions that are beginning to become lucrative are Puglia, Le Marche and Abruzzo, where an investor can still get deals around £20,000.
On a national level, rental prospects are also attractive since more and more tourists want to venture into rural locations. This is a good time for investors who want to turn old Italian houses into modern residences. And best of all, it has been said that Italy is a good prospect in terms of Intelligent Property Investment because there are no wealth or capital gains taxes to be paid, according to Property Showrooms.
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