Sunny Italy attracts with its landscapes, resort offers and cultural points of interest. Favorable climate, culinary traditions, developed tourism and the reduced prices after the crisis – all this led to an increase in the number of people wishing to purchase the real estate in Italy on the coast. According to many guests and Russians living here, Italy can be considered one of the picturesque, hospitable and romantic countries of Europe. Each region of the country is interesting in its own way and is not similar to the others – here both the mountain tops in the snow, and the Riviera for elite holidays, and quiet islets that have become attractive to the retiree.
If to speak about prices, the real estate in Italy can be assessed differently, because the market is heterogeneous, and there are regional features. Locals practically do not call themselves “Italians”, instead of using “Romans”, “Florentines”, “Venetians”. This is how experts recommend evaluating the local housing: initially to study the regional characteristics and only after that to make a choice.
Most of the objects on the housing market are the secondary – it concerns both apartments and villas. There are very few modern buildings in the country, so those who want to buy a new apartment will definitely have to limit themselves to a specific region. In order not to restrain oneself in such a framework, one can look more loyally to the secondary housing, because it is worth attention. There are many facilities that need reconstruction. If you want to buy just such an option, you need the advice of an experienced lawyer, otherwise, you can face a number of difficulties when it comes to a historic building.
Where to buy an apartment in Italy
After the crisis, the market of the residential and commercial spaces recovered slightly, but there was not a strong price collapse when compared with other EU countries. In general, across the country, prices declined by 6%, while sales increased by the same amount. Mortgage lending contributes to market growth, and the current situation is quite favorable for investing in this area. According to statistics, foreigners invested more than 5 billion euros in the country’s property in 2015, and the Chinese were the most involved, followed by the Americans and Germans.
Purchase of the real estate in Italy in the resort area is expensive, especially in the Marche, Liguria, Apulia regions. Liguria with its coast Riviera di Ponte and the cities of San Remo, Loano, Alassio is accounted for the most. These settlements border with France. The most liquid objects experts recognize apartments and houses in Liguria, Lazion, Sardinia, and Lombardy. In those regions where the infrastructure is not very developed, it is not necessary to wait for a rise in prices in the nearest future, therefore, the offer exceeds demand. Rental profitability is low here since villas by the sea can be rented for only a few months per year, but apartment owners in Rome and Milan receive income all year round by renting apartments to students, tourists, and employees.
Regions where it is better to buy a house in Italy
Apartments in Italy (by the sea and in the cities) are offered in a large assortment. It is possible to purchase not only apartments, but also secluded villas, mountain chalets, and restored estates. You just need to decide on the region and type of housing, as well as the purposes of the purchase.
The most prestigious is considered the north of Italy – the cost of the real estate is higher, but the liquidity is also high due to the developed infrastructure and stability of the economy. The region that deserves attention is Lombardy with all the provinces (Cremona, Bergamo, Varese, Como, etc.). In the capital (Milan), housing prices are average 4,500 euros per 1 m2. The bestsellers here are Lakes Como, Maggiore and Garda, where prices reach 10 thousand euros per 1 m2. No less interesting for investors is the Veneto region with its Venice. If you want to buy an apartment in Italy right here, the prices can vary between 4,000–12,000 thousand euros per 1 m2. The house in Emilia-Romagna, which many people associate with Maseratti, Lamborghini and Federico Fellini himself, will cost cheaper. Here the price of 1 m2 of housing costs about 2,000 euros.
In the north-west of the country, there is Liguria – a prestigious resort with picturesque landscapes and luxury rest. The proximity of Monaco affects the image of those who decided to move to Italy and buy a villa here. The tourist season does not end in Liguria all year round, and the most famous resorts are Portofino, San Remo, Empire, and Bordighera.
Tuscany lies to the west. This is a romantic place with the most beautiful nature and an excellent investment climate. Here you can invest in the restoration of historical buildings, the purchase of an existing hotel, farm, olive grove, etc. According to statistics, in the capital of Tuscany, the price of 1 m2 of housing is about 3436 euros.
Lazio is a region in the center of the country where Rome is located. The province includes the main centers of tourism – Frascatti, Chintavekkya, Tivoli, and Velletri. The housing is in the price all year round, and the cost varies from 1,800 to 10,000 euros per 1 m2.
Those who wish to buy the real estate in Italy by the sea can be recommended Apulia – a region in the south (Adriatic Coast). Here, there are extraordinarily beautiful landscapes, the cleanest the sea and rich historical heritage, the agriculture is well developed. Despite this, due to poorly developed infrastructure, the prices are low – 1 m2 of housing costs about 1,475 euros. Another region of the south is Calabria. There are also democratic prices and beautiful nature, local cuisine is very much appreciated. It is here that real estate in Italy is sold cheaply, but it is not profitable to rent it out, but you can live comfortably or come to rest.
In Sicily and Sardinia, it is profitable to purchase a “holiday” housing for yourself or to rent out to guests of the resort. Although the second resort cannot be called available – the celebrities from all over the world come here to relax, respectively, and the prices are exorbitant.
Why do you need a property in Italy by the sea
Before looking for where to buy a house in Italy cheap by the sea, you need to decide on your purposes and prospects. A lot of things depend on the planned tasks and the allocated budget. Russians more often become owners of apartments and houses here for moving to permanent residence and for holidays. Although the potential of these areas is much higher. Townhouses and coastal villas are very popular with Russian citizens.
If you plan to live in Italy permanently, experts recommend paying attention not to resorts, where life stops at the end of the season, but to large cities with their suburbs. For example, in Lombardy, the activity does not end all year-round, a couple of hours by car, and you can already relax in the ski resort or go to the sea and other large cities. Milan is good for shopping on weekends, here you can also send children to universities and schools. Also for permanent residence, Rome is interesting, where infrastructure and tourism are developed.
If you choose a house for a vacation, you can stop the choice on the lakes or the stunning climate of Sicily with the cleanest sea, plenty of fruits and democratic prices.
Even in such popular country like Italy, it is quite possible to buy low-cost real estate, if properly to address the solution of the problem. Prices here are dependent on the developed infrastructure, the concrete region and the presence of demand from buyers. The historical value of the building, the attractiveness of the view from the window, proximity to the lake or the sea, the number of floors, the presence of its own plot of land near the house, as well as the condition of the construction, have a serious impact on the cost of the areas.
The most expensive regions are Lombardy, Tuscany, Portofino, Veneto, the northern part of Sardinia. Budget offers there are in the south – in Apulia, Calabria, Campania. Also, interesting variants can be chosen on the Adriatic coast. Choosing budget objects in the province, for which demand is small, you need to consider that selling them if desired will be problematic for the same reason. If you want to save money, but at the same time to receive liquid areas, you can see new buildings in the regions that are developing. In the southern part of Calabria, the 2-bedroom apartment in the new building will cost 100 thousand euros, and it is with finishing and sea views.
How to avoid problems
The purchase of the real estate by itself in Italy (cheap for permanent residence or more expensive as a profitable investment) is carried out according to the standard procedure for Europe. The presence of housing in the country does not entitle to a residence permit. Taxes will be lower than in Switzerland and France, so homes and apartments in the border regions are in demand. It is important to take into account that the amount of taxes in each region is different and changes annually. Apartment maintenance is expensive.
In order to avoid problems with local legislation and to purchase an apartment or a house profitably, you need to take into account many factors, to know the legal nuances of the deal and not to fall for a scam. Therefore, you need to check the object itself carefully and the documents on it and only after collecting all the required information to prepare for the deal.
Services of the experienced lawyers
The experts of RPI SOLUTIONS company offer real assistance in choosing and purchasing objects for living and doing business in Italy. Our lawyers are aware of all changes in legislation both in Russia and abroad, therefore, there will be no barriers and complaints about the deal. If you do not know where to start the search, what features exist in each region of the country, contact us, and all problems will be solved in short order. To become the owner of housing in sunny Italy is no longer a dream, but a reality that can be reached by a hand!