The importance of buying in Italy through a licensed real estate.

The importance of buying property in Italy through a fully licensed real estate.

In Italy only fully licensed real estate agents can work in the real estate business.
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Habitable country house with land and olive grove, Molise.

Country house of 190 sqm, surrounded by 1 hectare of olive grove. Poggio Sannita, Molise, Italy.

Country house of 190 sqm, surrounded by 1 hectare of olive grove. Poggio Sannita. 70.000 €. View Property.

Restored 200 year old stone 132 sqm villa close to Palmoli, Italy.

Restored 200 year old stone 132 sqm villa surrounded by one hectare of land close to Palmoli, Abruzzo.

Beautiful restored old stone villa with one hectare of land, four bedrooms and four bathrooms. 185.000 €. View Property.

Beautiful villa with sea view. Montenero di Bisaccia. Molise.

Beautiful villa with breath-taking view of the Adriatic sea, Majella mountain and rolling hills. Molise, Italy.

Beautiful villa. 370 sqm of habitable space surrounded by 1.500 sqm garden. 350.000 €. View Property.

Life in Abruzzo. Events and Traditions.

This blog promotes life style in Abruzzo and Molise regions. Events, festivals, traditions and many others interesting, funny and useful tips about Abruzzo and Molise.

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In Italy only fully licensed real estate agents can work in the real estate business. The license can be obtained after a 12 month formation course held by the local Chamber of Commerce. At the end of the course, two exams are to be taken there and only after passing these exams, will it be possible to apply for a license.

Passing real estate exam to get license

The license will only be granted to those with no criminal record and to those with an insurance to cover all work related to problems that might occur. For example, if a client were to fall whilst visiting a property, the insurance of the fully registered realtor might well cover the damages.

It is also very important to have full trust in a registered realtor for another reason: When there is a formal written offer and the buyer sends a deposit to the real estate agency or to the owner of the house, the realtor has to register the contract at the local tax office.

Registration is required by Italian law. Without it, buyers and sellers could incur in a fine and in the worst case, the buyer could lose his/her deposit and also the property. A purchase offer or a preliminary agreement not registered at the local tax office, is not an official document. It is just a piece of paper without any legal value.

The registration makes the contract official and public; Through this document the government knows that the property is going to be sold to the buyer and therefore the owner of the house will not be able to sell the property to anyone else, even if he were to receive a better offer. This is obviously a safeguard for the buyer. Only regularly registered real estate agents can guarantee the registration of a contract.

Federazione Italiana Mediatori Agenti d'Affari

Italian law is very strict on this matter and only registered realtors can show properties to potential buyers. A foreign buyer looking for property in Italy, might come across people who introduce themselves as licensed realtors but who are not actually registered at the Chamber of Commerce and therefore are not insured. This could be very risky. This type of “false” realtor usually deals with foreign buyers as, in many cases, foreigners are not familiar with the Italian law and are not aware that realtors need to have both a license and an insurance.

Today on the internet, there are numerous websites of real estate agencies selling properties in Italy, many of which are written only in English. Some of them are fake real estate agencies or fake realtors.

An Italian real estate agency’s website should show:

  • The license number  (Not the VAT number, the VAT number is a different thing).
  • The insurance number
  • The association to a business category
  • It should be written in Italian (not only in English)

If you are dealing with realtors who do not show their license, do not hesitate to ask them for credentials…. It is better to be safe than sorry.

Real estate license italy
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Medieval castle of Roccascalegna and mountains view

 Roccascalegna is a small town with about 1.400 inhabitants, situated in the province of Chieti, up in the hills running along the Sangro river. It is only 35 km away from the beautiful coastline with iconic perched fishing huts, so called Trabocchi, over the Adriatic sea.

Medieval town of Roccascalegna

The hamlet is very picturesque, characterized by the stunning Medieval castle built on a rock with the wonderful backdrop of the awesome Majella mountains of Abruzzo. The castle was restored in the 90's and today it is open for guided tours. The small town is perfectly preserved, lying on the spur of the mountain.

View of Roccascalegna church from the castle
View of Roccascalegna from the castle
 

There are many legends but the most famous of all, is that of the Castle of Roccascalegna, which tells of the protagonist Corvo de Corvis and the edict of the “Jus Primae Noctis”, the Latin for the “Right of the first night”.

View of the Castle of Roccascalegna at night

It seems that in 1646, the phantom Baron reintroduced this Medieval practice, which stated that every newly wed bride on the estate of Roccascalegna, was to spend the first wedding night with him and not with the husband. It is not known if a newly wed bride, or the husband dressed up as the bride, stabbed the Baron in the bridal suite and that whilst dying, left his bloody hand print on the tower rock, which was later to collapse in 1940.

Although they tried to wash the blood stain from the rock, it kept reappearing and to this very day, elderly people swear that they have seen the “hand of blood” even after the rock had collapsed.

The hand of blood

The hamlet of Roccascalegna and its castle have been chosen by the film director Matteo Garrone as a location for one of the three episodes of his film “Il racconto dei racconti”,”A tale of tales”. It is the first film in English by the Italian director which was presented at the Cannes festival in 2015 and won seven David di Donatello awards.

Now let’s meet our clients, Sean and Susan, to find out what made them decide to purchase a house in Roccascalegna.

View of the tower of the castle with the mountains
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Posted by on in Holidays in Abruzzo and tips

 There is a whole universe to be discovered between the Apennines slopes and the waters of the Adriatic sea: nature parks and art towns, ski slopes and beaches, medieval churches, castles and museums.

Abruzzo is a region in Central Italy. It is still an unspoilt region although in the last 10 years its popularity has increased amongst tourists and also amongst foreign investors. In fact, Abruzzo is one of the cheapest regions for investors wishing to buy a house in Italy.

Abruzzo is not far from important cities in Italy. Rome is just 250 km away. There are numerous daily coaches connecting Rome to several towns in Abruzzo. The journey takes roughly two and a half hours and a return ticket costs 30,00 euros (40 dollars). The journey is very pleasant as the coach crosses the Apennines and passengers can enjoy the beautiful scenery of the mountains and hills scattered, here and there, with hamlets and villages. Coaches are always very punctual and reliable. Naples is not far either, it is just 180 km from Abruzzo and it is reachable by coach or by train. Other important cities which are not far and can be easily reached by train are: Ancona in Le Marche, a region just 170 km away, and Bari in the Apulia region at just 220 km from Abruzzo. To Florence it is 450 km. It is very easy to visit the whole of Italy from here.

Abruzzo has an international airport situated in Pescara. The airport offers daily and weekly low cost flight connections all over Europe.

The Abruzzo region is unique for its landscape, the Adriatic coast, its high mountains, Natural Parks and its rolling hills scattered with hamlets.

The climate changes from the mountain area to the coastal area. Obviously the mountains tend to have a cold climate with snow in winter and cool summers. The coast tends to have mild winters and hot summers.

A unique coast, with golden sands or pebble beaches; the placid Adriatic, coloured green or turquoise; the coast of Abruzzo is anything but monotonous: there are flat sandy beaches highly organized for tourists where it is possible to rent beach umbrellas and deck chairs with a bar/restaurant open all day and also part of the night. These beaches have bay watchers and lifeguards for safety regulations. There is always some entertainment taking place on these kinds of beaches: beach volley, live music, dance and sport lessons. Fun is guaranteed for all.

Cerrano tower, an ancient coastal tower located on the Adriatic coast between Silvi Marina and Pineto, Teramo, Abruzzo
Natural reserve of Punta Penna in Vasto - The trabocchi coast. Abruzzo coastlineCasarza beach near Vasto, Abruzzo. The trabocchi coast. Adriatic coastline of Italy.
 

Abruzzo also offers solitary wild beaches where it is possible to spend a laid-back day, walking the dog or simply reading a book. There are dramatic coastlines with high cliffs and pebbly beaches of unique beauty. The water temperature of the Adriatic Sea is very mild; in summer it reaches 27 degrees. It is possible to swim from the end of April to the beginning of October. Abruzzo offers one of the highest densities of blue flag beaches in Italy.

The southern part is distinguished by a unique coast with its characteristic trabocchi. The area of the Trabocchi coast covers some 230 square km, from the border with Ortona in the north, down to the mouth of the Sinello in the south, along one of the Abruzzo region's most beautiful coasts. Trabocchi are original fishermen stilt huts where it is possible to dine eating freshly caught fish cooked in a simple and traditional way. A dinner at one of the Trabocchi, eating fresh fish and drinking excellent local wine, costs 35,00 euros a person. The atmosphere is very romantic, absolutely perfect for an unforgettable evening.

San Vito Chietino at sunrise. Trabocchi coast.Mottagrossa Beach, natural reserve near Vasto.
Vasto Marina Beach in the Adriatic Coast, Abruzzo, Italy.Trabocco in Marina di San Vito Chietino, Trabocchi coast in Italy.
 

Between the high mountains and the Adriatic Sea, Abruzzo offers an unspoilt countryside characterized by hundreds of kilometres of rolling hills scattered with tiny villages, lush vegetation and organic cultivations of olive trees and vineyards. It is always a pleasure to drive at a slow pace along the narrow country roads surrounded by olive trees, fig trees, lemon and orange trees, cherry trees and vineyards. Picking fruit from the trees to taste is not considered an insult and farmers will be happy to welcome you.

The hill side is also characterized by beautifully preserved hamlets dating back to the middle ages, so very well preserved that the visitor feels like stepping back in time to a different age. The countryside and the villages on the hills are characterized by a slow pace of life, relaxed and laid back, far from the hustle and bustle of the city.

Abbey of San Clemente a Casauria in the territory of Castiglione a Casauria, Abruzzo, central Italy
Ovindoli is a village and a popular ski-resort in the Abruzzo region in Central Italy
Colledimezzo, a pictoresque hill town overlooking the lake of Bomba in Chieti Province, Abruzzo
 

There are seven beautiful lakes in Abruzzo, some are natural, some are man created. We do offer a wide selection of properties close to the lakes.

Abruzzo holds many of Italy's best-preserved medieval and Renaissance hill towns that rival those in Umbria and Tuscany. Abruzzo boasts indeed twenty of the most beautiful villages in Italy, 2nd only to Umbria which has 22. These awards are not just for aesthetic beauty but also are for art and culture, historical importance and livability. The abrupt decline of Abruzzo's agricultural economy in the early to mid-20th-century saved some of the region’s most beautiful hill towns from the onslaught of modern development.

Abruzzo is well known for its ski slopes situated on the Apennine mountains. Roccaraso, one of the best skiing resorts, avails of ski slopes at 2.140 metres above sea level. Despite this altitude, the Adriatic shore can be reached in just one hour and thirty minutes’ drive. Other excellent ski slopes are situated in Ovindoli and Passo Lanciano. Abruzzo is also home to Calderone, Europe's most southern glacier.

Rocca Calascio fortress in Abruzzo, ItalyMedieval village of Santo Stefano di Sessanio in the province of L'Aquila in Abruzzo, inside the national park of the Gran Sasso e Monti della Laga, Italy
The Corno Grande is the highest peak on the Italian Peninsula, in the Gran Sasso massif in the Apennine MountainsWine area located in the mountainous central Italian region of Abruzzo along the Adriatic Sea
 

Abruzzo is also known as "the greenest region in Europe" as one third of its territory, the largest in Europe, is set aside as national parks and protected nature reserves: there are three national parks, one regional park, and 38 protected nature reserves. The parks are great for outdoor activities like walking, trekking, bird watching, canoeing and horse riding. The natural parks and protected reserves ensure the survival of 75% of Europe's living species including rare ones, such as the small wading dotterel, golden eagle, Abruzzese chamois, Apennine wolf, and the Marsican brown bear.

They have a saying in Italy which basically goes “you are what you eat” and I hasten to add that the Abruzzesi are a healthy lot and thoroughly enjoy their food as do most Italians. “Mens sana in Corpore sano” which is the Latin for A sound mind in a healthy body.

Everywhere in Abruzzo it is possible to taste traditionally made cheeses, cold meats, hand made pasta, bread and pizza cooked in wood ovens, gorgeous typical desserts and freshly made ice cream. The typical traditional “sagre”, local fairs, are not to be missed. They are not only a wonderful way of meeting new people and getting a better insight into life here, but they invite all present to taste their home products in season, which vary in every town. Fresh artichokes, cold meats, salami especially their renowned hot spicy “ventricina” along with a variety of fish with the speciality “brodetto di pesce”, fish cooked in fresh tomatoes and peppers to be eaten with freshly baked bread and many other delicacies cooked and prepared in different ways. This is accompanied by good, cheap local wine which always goes down very well, encouraging singing and dancing and generally being merry.

Homemade tortelli. Traditional cuisine from the Italian region of Abruzzo.
Homemade fusilli with clams and prawns. Traditional cuisine from the Italian region of Abruzzo.
Arrosticini are tender skewers of lamb cooked over an open fire. Traditional cuisine from the Italian region of Abruzzo.
Montepulciano d’Abruzzo and Trebbiano d’Abruzzo: italian wines from the Abruzzo region
A bocconotto is a pastry typical of the Italian regions of Abruzzo, Apulia, and Calabria.
 

In the past few years, Abruzzo has started to pay greater attention to organic food, not just vegetables and fruit but also organic wines, olive oils, pasta and bread made with locally produced flours. People also appreciate that the food has to be locally produced and consumed to be able to really enjoy its taste and freshness.

This region is a great producer of a well known red wine: Montepulciano d’Abruzzo exported all over the world. It is also worth mentioning the production of white wines. A bottle of wine can cost from 1,00 euro up to 15,00 euros for a DOC wine. A glass of wine at a wine bar served with finger food and appetizers costs 4,00 euros.

Mountain scenery and nature, rolling hills with picturesque hill towns, vineyards and olive grooves, delicious local Italian food and wine products, and the ralaxing on beautiful and peaceful beaches! Abruzzo is all of this and much more... come to discover and experience "Real Italy", the Green Heart of Italy!

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 According to Rightmove.co.uk, UK's number one property website for properties for sale, Abruzzo is the least expensive region in Italy and in Europe for investments on property. Prices offered are even cheaper to those of Spain, Greece, Hungary, Portugal and even Turkey.

Abruzzo is the second region in Italy (after Tuscany), for overseas buyers looking for a property for sale in Italy.

In 2016, according to Rightmove annual report, 6.513,143 potential buyers have been looking for a house in Italy; this shows an increase of the 8% compared to 2015. The vast majority of these potential buyers are British.

Brexit doesn’t seem to have affected the trend, in fact in July 2016 the number of British searching for a house abroad has increased, reaching the highest number of searches even by users of Rightmove.

Italy is the third country in Europe for foreign investors, surpassed only by Spain and France. The type of buyers searching for a house in Spain are mainly attracted to coastal properties, apartments on the beach or in the Mediterranean islands. The type of buyers searching for a house in France, are looking for a country house. In Italy the trend is steady, with 35% of searchers looking for a coastal property and 37% looking for a property in the country side.

Now let’s talk about the Abruzzo region.

As previously said, Abruzzo is the second region after Tuscany for foreigners interested in buying their house in Italy, in the third position we find Lombardy, followed by Sicily and Liguria. Amongst the 6.513,143 potential buyers searching for a house in Italy (according to Rightmove 2016 Annual Report), 352,872 are searching for a house in Abruzzo. This figure shows an increment of 19% in comparison with 2015.

What is more astounding is that, this region offers the most competitive prices in Italy and in Europe. Below are some example.

Graphic with average property price for different regions in Spain, France, Italy and Protugal.

The less expensive area in Spain for property purchasers is the Valencia region with property average prices around 118.562 Euro for houses and 63.636 Euro for apartments. The less expensive area in France for property purchasers is the Limousin region with property average prices around 93.071 Euro for houses and 32.775 Euro for apartments. In Italy, Abruzzo is the least expensive area with property average prices around 61.735 Euro for houses and 89.175 Euro for apartments.

In Abruzzo, apartments tend to be slightly more expensive because they are usually newly built and not far from the beach.

It is surprising that a region like Abruzzo, with its beautiful coastline, majestic mountains, green rolling hills scattered with hamlets, three natural parks and its strategic location right in the center of Italy, is the least expensive area in Italy and in Europe for buying a house.

The chart below indicates how cheap properties are in Abruzzo in comparison with other Italian regions.

Property price in Italy by region, 2016.

Another interesting point is that the most popular area of Abruzzo for foreign investors is the Chieti province, followed by the Pescara province and then Teramo.
The number of properties on the market in 2016 has increased by 27% in comparison with 2015. The vast majorities of investors are from the UK, followed by US buyers, Australian buyers and those from other European countries.

These data can be interpreted in one way only: Abruzzo is the hottest area in Italy to invest in, prices are at their best and there is a huge number of properties on the market.
With these prices, Abruzzo is the perfect area to buy a property, be it just as an investment. We are not able to tell if the market will be steady in the future, but we are sure that this is the right moment to buy a house in the Abruzzo region.

Data Font: Rightmove.co.uk
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