The UK newspaper The Evening Standard recently visited the gorgeous coastline of Liguria, taking in the many sights and sounds of this amazing area of Italy.
Here you can read the full article:
http://www.homesandproperty.co.uk/property-news/holiday-homes/live-la-dolce-vita-italian-riviera-0
Planning to buy a property in Liguria?
Then 2014 could be the year to do so, because the pound recently hit 1.2258 against the euro, its strongest in 14 months or since January 10th last year, considerably cutting the cost of Liguria property.
To put this into context, sterling was as low as 1.1403 in March last year, meaning the pound has since climbed +7.5%, or 8 cents versus the euro. Were you to transfer £125,000 to buy a Liguria property, you’d therefore now receive +€10,688 more now than 12 months ago!
Sterling has risen, because the UK economy is firing on all cylinders. For instance, confidence among UK businesses recently hit its highest since September 2009. Moreover, the UK economy is forecast to expand +3.4% this year, more than any other major country.
At the same time, the euro has declined, because the Eurozone outlook remains cloudy. For instance, the currency bloc faces a serious threat of deflation, whereby prices continually fall. Moreover, the Eurozone will grow just +1.2% in 2014, according to official forecasts.
Looking forward, the pound could climb further against the euro, as the UK and Eurozone economies continue to diverge. For instance, while the Bank of England is primed to raise interest rates in Spring 2015, the European Central Bank will hold rates close to 0.0% for at least another 2 years.
In short then, Liguria property looks set to stay more affordable in 2014, as the pound leads against the euro!
By Peter Lavelle at currency broker Pure FX. To get free expert foreign exchange advice about the best time to transfer money to Italy for a Liguria property, call us on +44 (0) 1494 671800 or email enquiries@purefx.co.uk.
English language classes arrive in Sanremo!
Sanremo’s Mater Misericordiae Institute has opened up beginner level English language classes to children aged 30 months to 6 years old. Second level Italian and English language classes are also offered to children aged 6 to 11 years old.
For more information: www.matersanremo.it/web/magic.html
There are also many education facilities based nearby in Monaco – from nursery to University level!
For more information:
In 2013 Italy Boasts 248 Blue Flags Beaches and region Liguria has again the highest number of Blue Flag beaches
Italy has 248 top beaches, two more than last year, in 135 municipalities. The figures emerge from the 2013 Blue Flag table, which certifies the services and environmental friendliness of coastal and lakeside resorts, as well as the cleanliness of the water.
Blue Flags are international distinctions, created in 1987, with patronage and support from UNEP, the United Nations Environment Programme, and the World Tourism Organisation, which aims to promote a sustainable development at beaches and marinas through strict criteria such as water quality, environmental management, safety and services provided close to or within the beach area. To the Blue Flag Programme participate beaches and marinas in 41 countries of all the world.
LIGURIA’S TOP SLOT – Liguria again tops the regional table with 20 flags, increasing by two this year.
It is followed by the central Marche region with 18 (+2), Tuscany with 17 ( + 1 than last year), Abruzzo 14, Campania remains stable with 13, Puglia with 10, Emilia Romagna with 8 and Lazio with 5 like 2012. The two Italian islands, Sardinia, famous for its crystalline waters and luxury Emerald Coast resorts, has one more flag this time with nine but Sicily lost one flag land is now on eight.
In the West Liguria there is the new entry of San Lorenzo al Mare , but also the confim of Sanremo, Camporosso e Bordighera. These are the other 2013 Blue Flags in our region: Spotorno, Bergeggi, Finale Ligure, Noli, Savona Fornaci, Albissola Marina, Albisola Superiore, Celle Ligure, Varazze, Loano, Chiavari, Lavagna, Moneglia, Lerici, Framura e Ameglia.
Blue Flags for Marinas & Small Boat Harbours
The Blue Flag fro Marinas is an annual environment award to Small Boat Harbours or Marinas that have focused on good management of facilities and services regarding the environment and nature, as well as provide information to their users about the environment. To be eligible for this award, the Small Boat Harbour or Marina has to fulfil a number of criteria related to education, information and environmental management, safety, services and water quality.
This year, also for Marinas, Liguria wins again with 15, incresing by one this year.
In West Liguria these are the 3 blue flag Marinas: Portosole in Sanremo, Marina degli Aregai (Santo Stefano al Mare) and Marina di San Lorenzo.
In the rest of the region: Marina di Andora, Porto Luca Ferrari in Alassio, Marina di Loano, Vecchia Darsena di Savona, Cala Cravieu in Celle Ligure, Marina di Varazze, Porto Internazionale Carlo Riva in Rapallo, Marina di Chiavari, Marina di Porto Venere, Porto Bocca di Magra (Ameglia) , il Porto Lotti e il Porto Mirabello in La Spezia, a new entry of 2013.
Well, another good reason to buy a property in Liguria…..
Knight Frank analizes the Italy’s second-home market
Knight Frank’s new Italy Insight report assesses what impact the country’s recent economic challenges have had on its prime property market.
Traditional sources of demand (US, UK buyers) while still evident are now joined by other HNWIs looking to make a lifestyle purchase, these include Scandinavian buyers (particularly Danes), Russian and Benelux nationals who are all increasing their market share.
As well as providing an economic update and analysis of Italy’s mainstream and prime markets, the insight report assesses what impact Prime Minister Monti’s IMU property tax will have on prime sales and ncludes a snapshot of current market conditions across Italy’s second-home hotspots: Rome, Venice, Tuscany and Umbria, Liguria, Sardinia and the Italian Lakes.
Unlike the UK, US, Ireland or Spain, Italy did not experience a housing market bubble prior to the financial crisis. Although official data reports that mainstream prices are only 10.5% lower than their peak in Q2 2008, most analysts acknowledge that mainstream prices have dropped by around 30% over this period.
For many international buyers, Italy’s established prime locations offer a more secure second home option without the risk that many emerging European markets present.
A weaker euro in the first half of 2012 made very little difference to the volumes of sales but interest from non-Eurozone buyers improved once the euro reached 1.20 against the pound.
Buyers from the UK, US, Belgium, Denmark, the Netherlands and Russia are the most active. The one issue that connects these buyers is their level
of wealth, many are increasingly internationally-mobile with multiple residences globally.
In late 2011 Mario Monti’s new government of technocrats embarked on a strict austerity programme. For the first time Italians now have to pay tax on all their properties, including their primary residence. The IMU tax, which also applies to non-resident second-home owners, is expected
to raise €10bn in 2012 but many Italians consider it to be unfair given it is based on a public register which relies on an outdated ‘cadastral’ rental value for each home.
We do not expect the IMU tax to have a significant impact on Italy’s luxury housing market for two reasons. Firstly, because the sums remain
relatively small. Homeowners are due to pay 0.4% of the cadastral value on a primary residence and up to 1.06% on a second home. Secondly, despite the IMU tax changes Italy’s purchase costs and annual property charges continue to compare favourably with some of Europe’s other prime second-home destinations.
Key findings
Focus on Liguria
The prime market in Liguria has seen a higher level of activity in 2012. New stock being brought to the market is not only of good quality but is
being realistically priced. In contrast to some of Italy’s other prime markets Liguria has seen prices hold firm with small price rises observed in the best locations such as Portofino, Bordighera and Alassio.
British, Danish, Swiss, French and Russian buyers are the most prevalent with many seeking homes within the €500,000 to €1.5m price bracket. Above this threshold the region finds itself competing with the neighbouring Côte d’Azur.
Click here to read the full version of the Italy Insight by Knight Frank
Fonte: Kate Everett-Allen, International Residential Research, Knight Frank – Oct 2012
To know more about Knight Frank please visit www.knightfrank.com or call Mr. Matteo Scandolera on +39 334 9323000 or come to our head office in Liguria: LiguriaHomes, Via Matteotti n. 24, San Remo – Western Liguria
What Knight Frank Report says about the luxury Italian housing market?
This report summarises the key market trends observable in the luxury Italian housing market. The report provides expert insight from our international network, highlights recent market performance, buyer demand and features a selection of prime properties being marketed by Knight Frank.
The global downturn led to a renewed interest in core markets like Italy with international buyers returning from their searches in less established locations. Now is an opportune time for those seeking the dream property and lifestyle that only Italy can provide.
Italy’s most desirable regions continue to attract international lifestyle buyers searching for their dream holiday home. Buyers primarily come from the UK, Italy, Scandinavia, Germany, Russia and Benelux countries. US buyers have returned to the market but only tentatively due to their unfavourable exchange rate.
Although the global economic downturn saw prices in parts of the country fall by around 20%, there have been few forced sales, and where vendors have been realistic in setting prices, properties are selling in reasonable timeframes. The top end of the market (€5m-plus) has been slow in comparison, with buyers in this range being more cautious than others on price.
Italy is still widely considered to be a strong, established, core market.
The first half of 2011 is likely to see relative price stability across the regions with the potential for a slight decline. The only vendors to experience significant price falls will be those who have not yet reduced their asking prices.
Italy is a myriad of destinations, each with their own unique charm and character.
Buyers are predominantly driven by their desired lifestyle – they seek the long-term enjoyment of a second home rather than a short-term investment opportunity.
For them, the importance lies in the architecture, the climate, the al fresco culture, the food and wine, the bustling cities and wonderful vistas. The country also represents a safe and trusted destination with good transport links and a solid infrastructure.
Buyer interest was reinvigorated on the back of the global recession, as those searching in less established locations turned to what are seen as the trusted core markets, such as Italy.
Transaction volumes increased in 2010 as buyer confidence returned. Buyers do however remain price-sensitive as a result of the large number of properties available in most areas.
Many vendors now understand the need to be realistic on price. But buyers should not expect to find many ‘fire sales’, merely pricing that reflects the current market.
(from: Knight Frank)
Demand for homes in Liguria is reaching an all time high among foreign buyers. The competition for Ligurian properties is driving prices up, and attracting homeowners who will spare no expense in finding the perfect Italian getaway.
