Italy is flat out with ‘bottom feeders’
The bottoming out of the property market has been instrumental in launching a new breed of property buyer; the ‘bottom feeder’! Bottom feeders, although not attributed with the most endearing of names, have proved to be one of the most influential investors in the market place today. With property prices still woefully short of their perceived values just 18 months ago, it has opened the doors to many investors.
Linda Travella of Casa Travella, an expert on Italian property since 1987 says, “Properties which have bottomed out in the market place are proving to be very popular. Primarily the cash rich investors, who maintained their ‘cash is king’ ethos during the recession, are the biggest investors, opting now to purchase whilst prices remain favourable.
However there is also a constant stream of serious investors who just 18 months ago would not have been able to afford many of the properties available today. With prices at their lowest for years, many of these buyers are taking advantage of a once in a lifetime opportunity and purchasing their dream homes with far smaller mortgages than they would have needed in 2008. Whilst the recession has undoubtedly had an enormous affect on worldwide property prices, Italy has maintained a far more stable market.
Our current enquiries are more than encouraging and it just goes to show that each market whether good or bad has its specific type of investor and agents the world over need to be able to identify the requirements of these groups in order to maximise their opportunities and ultimately their sales.”
Below are some investment opportunities from Casa Travella.
Tuscany
This lovely totally restored semi-detached house is located just 500 metres from the centre of Bagni di Lucca in Tuscany and comes with all amenities. Less than 1hour from Pisa and 30minutes from Lucca, this spacious property, built over 3 floors, provides some 180m2 of accommodation and comprises 3 bedrooms, one with balcony, plus cellars and garage.
Price just reduced to €270.000 from 320,000 Euros. A saving of 50,000 Euros!
Le Marche, Lapedona
This lovely property which has been renovated throughout and completed this year is located in Lapedona and benefits from magnificent views over the countryside and sea. The spacious property of 350m2 comprises four floors including 5 bedrooms and a private, well equipped gym. There is a newly built swimming pool with pool house and a separate boiler room. This property sits in 2 acres of land which includes olive and fruit trees and would be ideal as an investment to rent part of the property if required.
Price: 650,000 Euros, reduced from 750,000Euros. A saving of 100,000 Euros!
For more information, visit casatravella.com.