During the last months we have seen a lot of articles talking about the price decrease of property markets all over the world. Also the prices of homes in Italy have decreased in the last months, after decades of slow but steady growth. This might sound as a bad news but actually it is not!
According to a report of the Italian estate agent group Tecnocasa there has been a fall of property prices in Italy also in the second half of 2008, it says that prices have fallen more in regional capitals than in big cities and that Rome and Milan have better held the price fallen. But the report says also that a coming back of property investors is expected. A loss of trust in financial investment and a much bigger availability of real property bargains are boosting a return of interest in buying homes in Italy and, as we all know, an increase in demand will certainly lead to a price increase.
So, is there a better time to buy a home in Italy? Well, the answer is no!
Despite the prices of homes in Italy haven’t fallen as much as in other countries such as the UK and the US, is possible to find very good bargains from motivated buyers who are keen of selling their homes. However, despite the perception of Italy as one of the most exclusive and expensive property market in Europe which is in part true, Italy has always offered areas where properties have very cheap prices, especially to foreign investors who are interested in properties in more isolated areas or in other areas where the majority of the locals wouldn’t live.
Let’s start from the best known Italian region, Tuscany. Properties in Tuscany are likely to be the most exclusive in Italy, but if we consider the northern parts of Tuscany, such as Lunigiana and Garfagnana, we would be surprised of the number of beautiful stone houses and farmhouses that are for sale for less than
|
|