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Italy: Why wait in Italy? - Linda Travella, Casa Travella

Strong Sterling, Weak Euro plus a Buyers Market - Why Wait?

There has never been a better time to buy a property in Italy, the £ has been at an 18 month high in the last month against the €.

Sometimes clients do not realise the impact that the exchange rate will have on their purchase and with it still being possible to find great value property in Italy, this really is the perfect time to purchase.

Here are some examples of the saving that would be achieved taking into consideration the current exchange rate:-

A property in December 2009 being marketed at €250.000, would have cost you £229,000. Compare this to now, when the same property would cost £211,000, a saving of £18,000! If you were looking to purchase a property of €500.000, you would save £35,000 by purchasing now as opposed to December 2009.

If you then look at the possible discounts you can find, especially on re sale property, you really should make sure you book that viewing trip straight away.

There has been an increased interest in clients viewing in the last few months but buyers sometimes are nervous of ‘taking the plunge’ and thereby missing out on potential bargains. If you are looking to purchase it is best to take a trip just for that purpose, rather than trying to include it in a family holiday. You will find it hard to concentrate with the children tugging at your sleeve because they want to go in the pool rather than view properties. If you do need to include a viewing trip with your holiday then put time aside specifically for that, say allow 3 mornings to look at suitable property. If at all possible try to avoid taking a viewing trip in August. Italy in August is not like it is the rest of the year as it is busier, hotter and some companies will be closed for the middle 2 weeks of the month. If you need to view in August make sure that the properties you wish to view are available, as not all vendors leave the keys and they too could be away on holiday.

In recent years viewing in August has become easier, but err on the side of caution and do check with your property consultant before booking your trip, so as not to be disappointed.

Two of the best months of the year for viewing are September and October and with an excellent selection of property for sale at present, start planning and booking now.

At present, some of the best areas for well priced properties and a great selection are, Tuscany, Le Marche, Sardinia ( if you want beautiful beaches), Western Liguria and for good priced 2 bedroom apartments in holiday complexes, Basilicata, in the South of Italy.

Linda Travella

Linda is director of Casa Travella - www.casatravella.com - and has specialised in Italian property since 1987. She has spent four years as chairman of FOPDAC, (the Federation of Overseas Property Developer, Agents and Consultants) and I am now Media Spokeswoman and committee member of NAEA International (National Association of Estate Agents), and a member of the Italian Chamber of Commerce, UK.

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