What’s the latest news surrounding Italy’s property market? We take you through the important updates.
Houses for €1
You may have heard about the Italian villages that are offering properties for €1. The list of villages adopting this scheme is growing in the hope that it will attract buyers to under-populated areas. The hope is that bringing more people into these villages will be worth more to them than selling the properties at full price. More residents mean stimulating the economy and boosting jobs.
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However, although these properties come cheap, there are certain things to be aware of. These houses are likely to be in need of renovation and in buying one, you are sometimes required to submit details of your renovation project. However, the rules vary from town to town.
You will also need to pay the normal legal fees that are required for purchasing a house abroad. As these properties are ‘doer-uppers’, it may also be worth taking a viewing trip to Italy before purchasing.
One of the latest towns to join the scheme is the Sicilian village of Leonforte in the province of Enna.
Is remote working reforming the Italian property market?
Like many places across the globe, the rise of remote working in Italy seems to be changing the real estate landscape.
In Milan, for example, the demand for city-centre properties hasn’t declined. However, there has been a surge of interest in Milan’s surrounding neighbourhoods as many workers desire to move out of the city. Remote working has allowed people to move away from the hustle and bustle of city life in search of more space, to be closer to nature and to focus on creating a work-life balance.
House prices are rising across Italy, but particularly in neighbourhoods on the outskirts of large cities, as well as in smaller cities that are ranked highly for quality of life.
Why not split the cost and double the fun of owning a holiday in France by buying with family or friends? Read our guide to Buying Abroad with Family.
Two Italian villages among most beautiful in Europe
CNN recently reviewed the most beautiful villages in Europe and two Italian villages have made the list.
Anghiari near the Tuscan-Umbrian border and Mazara del Vallo in Sicily were chosen by CNN. Anghiari is a walled village with winding streets and full of palaces built by ‘men of arms’ who lived here during the Renaissance period.
Mazara del Vallo is a beautiful fishing town with a melting pot of culture. It has a large Tunisian community and much of the architecture has north African influences.
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