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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Country house of 190 sqm, surrounded by 2.000 sqm of land. 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.

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Town house to restore, perfect structural conditions. Dogliola.

Town house in needs of internal renovation, perfect structural conditions. Dogliola, Abruzzo, Italy.

Town house of 53,3 sqm for renovation, in perfect structural conditions. New bathroom. 8.000 €. View Property.

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Italy's cheapest region to buy a property: Abruzzo

Posted by on in Taxes in Italy

 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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