Ciao Tutti
Discover Calabria, We build, sell and rent villas in the beautiful region of Calabria along the Lamezia Coast Line. From the pearl of Tropea up too the Diamond of Diamante and the Ruby of Scalea. visit my website www.italysouth.org Calabria the hidden secret of the south is now being discovered by the rest of us! Tuscany who? doesnt match up...you been watching to many american movies.

If you have any questions regarding purchasing a property or thinking of moving too Italy please let me help guide you in the right direction. Aviod the costly trials and tribulations in your relocation and transition!

Thank you
Frank Tarsitano
www.italysouth.org

Foreign Buyers



Old vs. New

A foreign buyer purchasing an older home vs. a new home in Italy must realize there is a substantial cost for historical charm which includes plenty of cosmetic and sadly expensive structural repairs. What sometimes looks like a beautiful bargain can actually become an expensive ugly nightmare.

Old homes in most regions of Italy are notorious for their smaller spaces. Although, photographic data actually exists proving that people groups from the early century’s in Italy were not all under 5-feet tall and skinnier than a runway model; however, that's not reflected in all older homes. Basements for storage or living space, as many older homes in Italy don’t even have basements and the ones that do are nothing more than a soil-based wine cellar accessible only from outside the home. I wont even begin to talk about the improper ventilation which creates condensation and that cancerous mould you see on there walls and ceilings.
Lastly, the layout of the old home is not conducive to large gatherings . . . at least gatherings with which folks can be in the same room at the same time. Yes, the parlor was big. Yes, the living room was grand. And yes, sometimes the foyer was spacious. But the majority of older homes in Italy had one thing in common. None of them were open to the other.


Advantages to Buying a New Home in Italy

The most obvious advantage to a new home is that everything's new. There's an emotional factor at play here. There's nothing like owning something that's brand new, never been used, whether it's a car or a home. Probably a lot like how Columbus must have felt before everyone else starting traipsing all over America.
Best of all are the modern conveniences, such as a built-in dishwasher and stove, more bathrooms (and with shower heads!), and A/C, to name a few. While most of us might enjoy the occasional roughing-it out, no one really wants to live there days sneezing from repair dust.


Our new homes feature cathedral and/or trey ceilings, and are more energy efficient than the older ones. These features inject the historical Italian charm found in an older home. Think insulation in the walls, ceilings and floors. Italy has now past a new energy law in most regions that makes insulation of new homes mandatory. Think double- or even triple-pane windows. Many older Italian homes have very few and small windows. Think 90% more energy efficient. Savings! A sigh of relieve in a Builder's warranty, whether it's one year or ten years, it's better than nothing!

And last but not least, our new homes are more user-friendly. Rather than just throwing a home together with all the essential parts, We are taking into account the desires of the consumer. Open floor plan, split floor plan, functional basement, Jack-N-Jill baths, his/her vanities, first floor master, proper ventilation, and the list goes on.

In every business, particularly the real estate and construction industry, it's important to demonstrate honesty, integrity and professionalism. I uses these qualities to help my clients be successful, when buying a home in Italy. The bottom line is helping people fulfill their dreams and living a comfortable Life in Italy.

Foreign Buyers if it's time to have a new address, I recommend purchasing a new home vs. an old home in Italy.

Grazie
Frank Tarsitano
www.italysouth.org

Real Estate Prices in Italy

Prices are on the rise for real estate in Italy, last year the largest foreign group of purchasers were from the Uk followed by Germany. Price range varies greatly from location to location, for some examples from a few years back: Prices for a rural home are up from 225,000 to 275,000 euros in the outskirts of the major cities. Small farm houses have also seen prices increase from 275,000 to 300,000 euros and Apartments on average went from 125,000 to 175,000 euros.


International Financial Groups are advising purchasers to invest in southern Italy which has seen the largest property sale increase and highest return on investment. The Region of most interest to foreign buyers has been Calabria in Southern Italy. Calabria offers the most extensive areas of beaches, woods and farmland which appeals to foreign buyers coming from stressful major cities back home. In the meantime, acknowledging 50,000 euros savings on average in price differential compared to Northern Italian Cites. Most appealing to foreign buyers purchasing in Calabria is the relatively low cost of living in the south. The region differs greatly in expenses compared to the prosperous north and central regions of Italy, comfortably, the cost of maintaining a home in Calabria on average yearly is only 1200 euros. This is due to constant warm weather all year round with over 300 days of sunshine reducing utility costs. Purchasers are also pleasantly content with having enough land and the option to grow there own crops reducing food costs which have sky rocketed over the last few years.

Frank Tarsitano
www.italysouth.org
Broker Land Developer

Since the tradition of the Grand Tour, people have continued to come to Italy for the same reasons they have always done: the climate, great culinary traditions, an unrivalled artistic and cultural legacy, and the stunning landscapes and seascapes. But I would also add that this fascinating country isn’t just about luxury brands, fashion, culinary perfection or glamorous resorts, sophisticated cities and medieval villages perched precariously high above the valleys. It also happens to be the birthplace of some of the most unimaginable and remarkable accomplishments that have been achieved throughout the centuries. In fact, Italy has contributed significantly to the development of the whole Mediterranean area and deeply influenced European culture. The rebirth or Renaissance that occurred between the fifteenth and sixteenth century not only brought about a profound shift in attitudes and thinking, but also produced the many revolutionary innovations that have had a major impact on western civilisation. Today, Italy is home to the world’s largest number of UNESCO world heritage sites.

Italy is therefore a specialist niche market and from what I observed recently at the Invest in Property show in London, most investors seem to be looking for bargains in emerging markets. Italy is certainly not an emerging market for speculators looking for cheap deals.

If we look at what has been happening at house prices over the past 4 years, I would say that price rises have not resulted from an inelastic supply of property (in other words a limited supply of property in a give region), but by other factors such as, among other things, the gold rush mentality among foreign buyers due to the low cost airlines serving destinations that were previously inaccessible.

Regional price variations also apply, although the transfer costs are the same wherever you go. However, it is difficult to determine the precise market value of a property - agencies and surveyors can give you what is called a stima comparativa a valore di mercato, but I wouldn’t really call this is an exact science because these estimates don’t take other qualitative factors into account. For example, a property located on the top of rolling hills with 360° views will demand a higher price than a similar, if not better, property located in a valley.

Now although the squeeze on credit is making life difficult in some countries, Italy has not been affected to the same extent and so house prices have remained relatively stable, with some areas performing better than others so it is still a good time to buy in Italy. ROI will depend on the location but my advice to anyone thinking about buying is to do your homework thoroughly, don’t succumb to the marketing hype and get profesional, independent advice, especially when looking at new developments as there have been recent cases of planning officials being arrested for fraud in some parts of the country.

There are no restrictions on foreign real estate ownership in Italy. Although, buying properties in Italy can be very challenging and the Italian real estate can be very confusing at times. One of the main complaints from foreign buyers is the way Italian properties are advertised in such vague terms to be sold, if advertised at all.

Italians generally do not like to publicize photos of properties, because Italian property sellers to first fear that their neighbors and others will think they are selling their property for reasons of financial hardship. This can be explained in how typically property in Italy has been in the family for the life of the property and is therefore felt to be almost part of the family. And we all know how important "family" is to Italians. This is why very few properties are for sale in Italy and why finding most of those few properties is like finding the proverbial needle-in-a-haystack. It is for some of these reasons you will want to hire the services of a solicitor/lawyer to draw up your initial contracts and instruct the notary when purchasing a resell property in Italy.

At The Global Property Group Ltd www.italysouth.org we build and sell new custom homes in Calabria, Italy. Are main focus is to cater our services in assisting non Italians. Over the years our services also helped protect non Italians from fraudulent acquisitions, frustration, and costly trials and tribulations.
When purchasing a new build, we at Global Property Ltd provide our clients with a preliminary reservation and sales agreement after your site inspection visit of the property. This preliminary agreement can be taken to your own solicitor for viewing before signing and returning it to our agent and real estate firm.
Our Architect Builder provides our clients with a selection of model villas to be built along with a personal guarantee, Bank Guarantees or an insurance bond on the completion of your new home. On the final payment of your completed home, the sale will be completed before a public notary when the final deed or conveyance of transfer is signed. The notary issues a certified copy of the deed of sale and registers the original document with the land registry, which makes you the legal owner of the property.


Our Preliminary Reservation and Sales Agreement details the terms with the Acknowledgments & Conditions for reserving a new build property off plans. Included in the agreement is the official Site Plan, Model villa prospective drawing, building permits and Schedule A : the payment schedule .

The initial Reservation amount of 5% is fully refundable to the Client without deductions but not including bank transfer charges, in the event that the project detailed in the agreement cannot proceed to the Contract stage due to planning permission or building licenses not being granted.

For more information on buying new property in Calabria, Italy, please contact me francotarsitano@msn.com or visit Italian Governments website: http://www.esteri.it/

Frank Tarsitano
www.italysouth.org
Broker Land Developer

Italy scores highly in recent poll as a top destination for overseas buyers
2008
The UK’s top 10 overseas property destinations according to A Place in the Sun, are as follows:
According to a survey which has been conducted by A Place in the Sun Magazine, Italy has moved into the top 5 destinations for UK buyers looking to buy a property abroad. Cyprus, Greece, Bulgaria and Cape Verde all suffered significant drops in popularity when compared 2006. The recent push to market all things Italian has clearly paid off and Italy has witnessed an increase of 3 places.
1. Spain (-)
2. France (-)
3. Turkey (+1)
4. USA (+6)
5. Italy (+3)
6. Cyprus (-1)
7. Greece (-1)
8. Bulgaria (-5)
9. Canada (+7)
10. Cape Verde (-1)
Source: A Place in the Sun:)



francotarsitano@msn.com
www.italysouth.org