Comments on: Popular Estate Agents in Italy

By: Frank

Frank — Mon, 04 Oct 2010 08:04:08 +0000

Abruzzo has suffered from the awful label of the new tuscany and the availability of exceedingly cheap housing in the internal province of L’Aquila, not only did that all go wrong after the earthquake many people lost their homes as they were declared uninhabitable.
The truth of it all is that many properties are still being sold at easily affordable prices via agencies and others of to say the least doubtful integrity.
Two main points i believe to look at in addition to those made above by Steve. All legal and registered agencies here have to display that fact on very page of their website by law, that is their registration number with the local chamber of commerce and their Vat registration number, all business here has to be registered for tax and their operating premises as registered has to be displayed.So look carefully at any website offering Italian property for sale if it doesnt display its details properly its already breaking Italian law so its a sure sign of less than secure way to buy.

Second point is that not only is it unwise to use in house advisors re law, but also restoration, in fact many properties have been sold in Abruzzo with latent problems regarding ownership and re-construction work, debts attached and not cleared, especially in cases where property is unusually cheap compared to other local properties.Italian law is very slow, professional classes are almost immune from prosecution re negligent advice so be aware that a cheaper than usual property is never going to be the apparent bargain that you might believe it is.

Finally apart from well published seismic problems in the province of L’Aquila, dont forget selling agents denied the existence of that problem before the L’Aquila disaster, there are many other areas that local knowledge means that property prices are lower than usual, the drilling for gas in lago di bomba and oil refinery plans at ortona, toxic waste in Bussi in the pescara valley are three of the most famous problems that locals and the rest of Italy know very well.

Forget the story of Italians not buying country properties too, thousands of times more property are sold to Italians and the UK buyer is just a very small percentage of the sales here. People from Rome are buying holiday homes and people from Milan are opting for changes in life. What they do require is much more detail on areas and property than most UK buyers and they know there are no properties for sale here below market values that will not have problems associated.

By: Angelo Giungato

Angelo Giungato — Thu, 12 Nov 2009 13:40:23 +0000

Provide consulting services to assess real estate means land and buildings and assist the customer in all aspects relating to sale and leasing of buildings.
Abitare90 provides advice and properties for sale in Italy of high prestige cottages, villas and cottages.

By: Domenico

Domenico — Wed, 05 Nov 2008 14:11:31 +0000

I am the owner of an agriturismo in Friuli.
A region at north east of Italy.
I do not believe there is a double market (italian and foreign buyers). I only think that until foreign buyers always ask for Tuscany and Umbria, of course the price will be double than reasonable. That’s it.
Since couple of weeks, my wife and I decided to sell our property to move oversea. Of course I am contacting international real estate agents to verify if there is interests in Europe buyers.
The usual reply to my offer is:
You are not in Tuscany. Sorry, we are not interested.
At least, give a look to my property. Maybe at the same quality there will be “half price”.

By: Steve

Steve — Thu, 21 Aug 2008 13:30:19 +0000

My own agency is listed on Nubricks as one of the popular estate agencies. Thanks, whoever did that! We were established in 1972 and have traded continuously through good and bad times without the need to close down and reappear under different names. This is only achieved by honesty and integrity. When times are bad we see ‘agents’ (quotation marks are intentional) close down and as things improve we see them open up. The web has been a mixed blessing. First of all it has made it quicker and easier for us to showcase our properties, offering a much more immediate service. But, secondly, it means that anyone who is technically minded can set up a website and appear knowledgeable and professional in a market they know nothing about. I am sure that all professional agents on this site will agree with me that the two best bits of advice to the buying public are:-
1. Choose your agent carefully. In Italy they must be licensed with the chamber of commerce as an estate agent and it helps to choose one that is a member of FIAIP. If you are using a UK based agent make sure they belong to the NAEA or RICS. Remember agents in the UK are not licensed, anyone can set up!
2. Get sound, independent professional advice. Avoid ‘in house’ lawyers offered by developers.
Best wishes
Steve

By: Chuuk

Chuuk — Thu, 21 Aug 2008 13:18:21 +0000

I have to agree with much of what you say, Jeff! I have been involved at the sharp end of the market since the mid 1980s and despite the ups and downs of markets Italian property always proves itself as an investment. I do worry about some of the cheap developments in the south! I am talking about traditional central and northern areas where both foreigners and Italians appreciate all that these areas have to offer – whether they are buying to enjoy the beauty, weather, wine and food or because they have to live there to earn a living. I think it’s pretty insulting to say Italians haven’t heard of the global credit crisis, by the way.

By: HouseAbruzzo

HouseAbruzzo — Fri, 15 Aug 2008 09:43:30 +0000

As an agent, my own experience of the property market in Abruzzo, in the past 4 years, has been revealing more advantages for the British investors than anywhere else in Europe.
I agree on the fact that overpriced houses are to be found everywhere, but I am the first one to reject them from house sellers, discouraging unjustified prices.
The reason there are many houses on sale in Abruzzo’s countryside is not that italians prefer to live in the cities, but it is due to the emigration of Abruzzesi during the first half of XX century.
Statistically, if you look at figures of any town in Abruzzo, every 1000 families living there you can find 1500 houses, which explains also why many properties in Abruzzo are on sale.
The British are great connoisseurs of property investments overseas and in Abruzzo they have shown so far common sense and taste for what is in the end a unique place to buy a house abroad.
Recently I have noticed north americans and australians showing an increasing interest for Abruzzo, together with the germans.
Another great feature of Abruzzo is the variety of properties on sale, in terms of price and typology.
Finally, nature is so amazing in the national parks areas that anyone agrees on how beautiful this region is.
Thanks Abruzzo!
Gianpiero De Filippo

By: Jeff

Jeff — Wed, 13 Aug 2008 23:22:03 +0000

Dear KE,

You have to remember that the method of dealing with real estate here in Italy is not the same as in the UK, as it is a different country. Italy has a population that mainly does not class a property as an investment but as a place to live, though ideas are now changing. There are many good Italian agents out there but because the “way” of buying property is not the same as in Britain people get easly flustrated.

Italians are very well informed of Global issues and are very well educated. They know whats over priced and with a bit of research you will to.

Last word:

The reason property prices in the countryside of Italy have gone up is because of foreign investment, as you will know Italians prefer the city and this was why there were so many properties to buy in the first place.

By: Dav

Dav — Mon, 03 Mar 2008 12:37:17 +0000

In Italy we get global news and I can assure that we do know what’s happening with the subprime and financial related news.

By: KE

KE — Thu, 24 Jan 2008 19:51:07 +0000

There is a difference between living in a place and buying over-priced real-estate in it, Jeff.

Neither I am here for “the weather, food, wine and countryside”.

Most agencies in Italy are v. good!? I would disagree. That Italians are duped into buying over-priced real-estate is true. We might ask ourselves why. Let me just say that, ask people here about the global credit crisis – most will respond that they have never heard of it. Need I say more?

By: Jeff

Jeff — Thu, 06 Sep 2007 17:27:50 +0000

Gullible Brits? There is a very real reason why British people buy in Italy. The weather, food, wine and countryside the list is endless, since you yourself live there you will know why!

Yes prices have doubled, but there are still good purchases to made, most agency’s in Italy are very good and do not have separate prices for international buyers. I think in general people who do come from abroad do not expect such prices, but they are the same for the Italians as well!