Overseas Property Focus
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| Added 09/07/09 | |||||
| New builds in Italy are more cost effective for investors says property specialist | |||||
In fact the brand new homes being built are ideal for Fly to Let investors says Pat Creevy, the MD at Charles Oliver. Creevy said: “A few years ago, Italy really could only offer ancient older buildings which whilst many were beautiful, the work and time required was often not cost effective. “Yet the British have always loved Italy, which is why the brand new homes currently being offered are appealing to so many. “Brand new homes allow visitors to enjoy their visit from day one. They are also perfect for renting, giving owners an income on the weeks they are not personally enjoying their second home. “In addition, brand new homes come with guarantees of quality of build, as in the UK, and with quality kitchens and bathrooms, owners can enjoy the level of comfort they would expect in a UK home, but with all the joy of an Italian lifestyle. Creevy believes the Italian banks did not get into the level of debts seen in the UK and therefore they have not been so deeply affected by the global downturn. He added: “We are seeing a bottoming out of prices and an increased level of interest particularly as prices are very competitive. New homes currently being offered by Charles Oliver include one-bedroomed apartments at La Castella Beach Resort, Calabria, for €94,000 and two bedroom apartments from €149,950. There are also a range of one and two bedroom apartments in Corallo Residence and Spa, Calabria from €93,995. |
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