The last year has been a good one for the Italian real estate market and going into 2015 there are still good buys to be found in many areas, it is claimed.
‘If the first quarter of 2015 is as busy as the first quarter of 2014 then this will be a very positive sign indeed and I can see no reason why not. The Euro is weaker against the Pound which is a great advantage and of course encourages clients to purchase more readily,’ said Linda Travella, who has been working in the country’s real estate industry for over 20 years.
She has picked Puglia, Lake Como and Tuscany as the most popular areas for overseas buyers in 2014 and is certain this will continue into 2015 and pricing at the right level will still be the key to getting a sale.
‘The Tuscan market was hit the worst in the 2008 crash and that means that the possibility of finding a good buy in Tuscany is still excellent. If clients put their property on the market at an inflated value it will not sell as there are too many sellers prepared to negotiate to obtain a sale from a buyer who has the cash,’ she explained.
She points out that it is possible, for example, to buy a fully renovated two bedroom apartment close to Volterra furnished or unfurnished with shared pool, starting from as little as €260,000.
She predicts that British buyers will return to Lake Como in 2015 while Russian buyers have decreased. But Swiss and German buyers are still strong. Overall she expects the €500,000 plus market to be more buoyant in 2015.
Sales at the lower end of the market are expected to be strong. ‘The market at €150,000 and under returned in 2014 and I see this trend continuing. Why leave your money in the bank or building society and receive hardly any interest, shares also lost value between April and October 2014 so an investment in property seems a much better option,’ said Travella.
‘I think the first quarter of 2015 will show a great deal of interest with clients viewing in February, March and April. We are seeing more interest from the UK market than in the past five years with the Europeans still also very interested buyers,’ she explained.
‘The US market seems to be also showing some interest compared to the past years with some clients already talking of viewing in the first and second quarters,’ she added.
Her firm Casa Travella has also seen a huge surge of interest in 2014 in property in Puglia but many buyers were ‘just looking’. However, she expects these buyers returning to purchase in 2015.
She also believes that The Dolomites could be an up and coming area in 2015 as property is hard to find but a great investment and not just for skiing. Her other top tip is Southern Le Marche where property by the sea can be bought at a much better price than on the Tuscan coast.
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