Two Italian regions, Liguria and Venice, have been the most persistent in the Apennine peninsula: the crisis in 2008 did not affect prices. Indeed, the decline was about 12.3% - these figures have been provided by Italian experts of estate agency Knight Frank. However, it is a very slight decline compared to other administrative regions of Italy. Moreover, in 2012 and in the period from January to May 2013 premium property prices rose by 5%.
According to the portal Property Wire, the greatest demand was in 2012, for real estate in Liguria in the price range of €500,000 - €1.5 million, while in 2013 strip has slightly increased and the maximum number of sales were made in the range of €1.5-3 million. A difference is palpable, but this increase is explained quite simply: Italian luxury real estate market has attracted the attention of foreign investors from Switzerland, Russia, Monaco, the UK and Asia. The main attention is paid to the houses, villas and apartments, designed for seasonal holidays.
Property in Liguria is is prestigious and attracts by its great climate and charming nature of the coast. If we take into account the fact that the strict rules and the steep slopes of the mountains are perfect limiters on new construction, it is clear fact of rising prices by 5% since the beginning of 2013. Investments acquired a stable character, and we can say that the market came to life and began to catch up. Moreover, many experts predict a further rise in property values in the region.
What types of real estate are offered at the moment? For example, you can buy a luxury villa in San Remo, located just 300 meters from the sea, for €1.5 million. €1.99 million is the cost of one more magnificent villa overlooking the sea in San Remo. And you will need little less money, about € 1,2 million, to purchase a villa, located in the hilly landscape in Allassio.
As for Venice, the greatest demand is for a two bedroom apartment in the prestigious areas of the city such as San Marco and Dorsoduro. This kind of property is interesting for residents from Russia, Germany, France, the UK and Asia. Real estate in Venice in price from €800,000 to €1.5 million is very popular now. Who doubted the booming of Italian property can safely purchase apartments and villas: the crisis is over, now a takeoff period is beginning, which promises great dividends those who in time will take care of the proper investments.
The real estate market in Venice is quite extensive now. For example, a magnificent Morosoni's palace goes up for sale for €25 million; also there are offers for apartments, condos and homes. According to Knight Frank, Asian investors are increasingly interested in apartments in Venice. Statistics show that in 2013 the number of search queries from Asia increased by 64% compared to the same period in 2012. Also the growth of the Chinese economy in the last decade has raised a keen interest in elite housing.
Revival on the real estate market in Italy has been caused by the promises of the Italian government to review the property taxes. In this regard, the wealthy buyers began to consider a property in different regions of Italy as a long-term facility investment and as second home, designed for seasonal holidays, virtually abandoning the pre-existing model, which assumed only a short-term investment.
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