What Knight Frank says about the luxury Italian housing market?

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.

Search Property in Liguria

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(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.

10 good reasons to invest in properties in Liguria

For anyone new to investing that may not have decided on which sector they should invest their money into, below are the top 10 reasons why property should be considered as one of their investments.

Region Liguria is situated in a very strategic position in Italy and has one of the most beautiful and diverse natural landscapes in the country thanks to its unique micro-climate.  The combination of the two make it an excellent location for property investment.

Liguria Homes has come up with 10 reasons why you should consider investing in the Ligurian property market:

  1.     Liguria is one of the top holiday destination in Italy and renting out a property here with a good return is very easy
  2.     Properties in Liguria are a profitable investment and a good hedge against the inflation too
  3.     Their starting capital value is revalued all the time
  4.     Properties in Liguria have both high yields and low-risks so that no other region could be able to compete with them
  5.     They are real and tangible and they don’t change their stuff in accordance with the economic situation too
  6.     Their value can change, but in the last 60 years it is always increased
  7.     Properties in Liguria are suitable for all the “portfolios” because of their flexibility and adaptability
  8.     A property in Liguria is “cashable” in short time
  9.     Fly to Nice, only 2 hour flight time from all the european countries with direct flights during ALL year
  10.     Ligurian people are the most friendly, welcoming and outgoing people you could wish to meet

These are only 10 simple reasons, but, believe me, there are millions…

To Search Investment Properties in Italy or to ask for more information about Liguria Properties, please visit: www.liguriahomes.com

A place in the sun in Italy?

If you are looking for a place in the sun in Italy, Western Liguria is the right place:

  • Here you get more than the sunshine – Liguria makes you smile.
    Liguria’s people are happy people, provide you with good Mediterranean food and the best climate in the world.
  • If  for instance, you settle near the town of Sanremo you get more than good food, sunshine, sandy beaches and wonderful climate, here you have the best of both worlds: beautiful shops, nice cafes, but also Theatre, Casino and of course the close proximity of Monte Carlo with its racing circuit and all the sophistication of the world of their discerning residents.
  • The Italian Rivera has been the summer residence of European Royalty for centuries, they appreciated the advantages of a healthy climate long ago and this has not changed. Many of the old palaces and Villas, once occupied only by one Royal family, have now been converted into apartments, with all the old charm and glamour, yet with modern living in mind. Beautiful parks and wonderful views abound. Also, lovely villages full of charm and history are scattered throughout the hinterland.
  • Western Liguria is famous for its unique climate (the mildest in Italy all year round)
  • The nearest airport is the International Airport of Nice (France) at only 40 min drive, with dozen of flights to London and connections worldwide (it is the 2nd hub in France). In Italy, Genoa airport is at 1 h drive while the private airport of Villanova “Clemente Panero” is just  20 min away.

Take a look to our website, focussed on Liguria, www.liguriahomes.com  and feel free to contact me again if you need more assistance or to fix a visit here.