The Italian Tortoise vs. the Spanish Hare
What we’ve been doing!
We want to share some of our activities with you, and have created a space on our site that is dedicated to ever changing project works and recently completed activity. Its a free flow of pictures, projects and background.
Running into the second quarter of 2018, we note that our initial views from the start of the year, whereby we noted that residential real estate in the major urban centres were starting to become more liquid with demand returning but that rural areas were likely, in the short term, to lag both in demand and in price recovery. Data on prices and volumes support our earlier thesis, as for the first time in many years, the Italian Real Estate market looks to have finally turned the corner.
2018 is, in our opinion, is looking like another difficult year for rentals in Italy.
Since the crisis took hold in 2008 rental bookings have dwindled year after year and 2018 is looking like no exception. Bookings, Year to date, are down on the same period last year and the leading agencies are reducing commission rates to endeavor to increase traffic from overseas clients and overseas agencies.
Sincere best wishes to all who follow us at Onestone. We wish you a happy, healthy and prosperous New Year.
2018 should be an interesting year. We have already seen the property market in the major cities, in Italy, bottom this year. However, in the countryside it remains very much a buyers market, at least for now, but we expect this to change next year with properties in prime prime locations being sought after.
Buying and restoring properties overseas can be a pleasure and indeed very rewarding, if executed properly, but it can also be a nightmare, if not managed well.
We are seeing a great deal of interest in buying properties to restore at present. I believe that this is because the initial outlay clearly is significantly lower than buying a finished product and given that we are yet to emerge from this crisis, here in Italy, it is more palatable as costs are, therefore, spread over a longer period, usually 18 months or 2 years, depending on the size of the project.
Country estate of 17.8 hectares, positioned perfectly for dramatic sunsets over the Niccone Valley with all the ingredients in the view that you would expect from an idyllic Umbrian location. Adjoining the prestigious Rescio Estate with four buildings totalling 900 square meters with a total of 7 bedroom suites.