澳洲Australia property Anyone bought in Italy? I need to fulfill


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


My dream is to buy a place in Italy, probably somewhere down South on the Coast or one of the Islands, anyone bought in Italy before???

Keen to hear some experiences etc, I can't stop thinking about this dream and need to fulfill it or else I won't rest :)  

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While it's a great goal, have you ever lived in Italy?

If I were you, I would spend a few seasons out there renting in various places before buying.  

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Do you have access to Foxtel? Or a friend who can record programs for you?

Their "how to" channel (#119) has a program "A place in the sun" that details British people buying places in sunny climates. Italy is often featured. Each program shows 3-4 properties.
Marg  

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Hi Alexlee, I have family there and have been back 4 times. I must clarify, the place I would like to buy would be for holiday purposes, not to permanantly relocate. My dream would be to buy someone on/near the water whereby I could fly back to 1 month a year in their Summer etc (and longer when I near retirement).

Hi Marg - No I don't have Foxtel but I'll try and look it up on YouTube or something. I've seen a few shows like this previously, very interesting and some very funny :)  

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littletee said: ↑
Hi Alexlee, I have family there and have been back 4 times. I must clarify, the place I would like to buy would be for holiday purposes, not to permanantly relocate. My dream would be to buy someone on/near the water whereby I could fly back to 1 month a year in their Summer etc (and longer when I near retirement).Click to expand...
While that sounds great, my understanding is that it's very hard to hire people to fix stuff in Italy.

If it's just a month a year for now, wouldn't it make more sense to rent places in different areas?  

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Yeah Probably is Alex, I'd hope I'd buy something that doesn't need a Reno or anything like that.

Can definately Rent and have done so in the past but would really like to buy something and keep it, perfect excuse to go back often etc.  

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This is not a direct comparison, but might prove instructive for your experience.

My father has renovated his paternal home in the island he was born in Greece, so has no issue with language or the the cultural nuances that might be lost on me for example or for someone who doesn't have any knwoledge of the country. However, he was fortuntate to find an excellent builder but the other tradespeople were unbelievably unreliable, lazy. It seemed only the Albanians worked for their money. Not sure what the Italian equivalent is? I say this because he was there when this was happening, chasing them, following them up and being on their case. Supplies were also difficult to get, partly as a function of the island in question and the logistics involved in getting material there but also to the where the property was located in one of the villages.

Do you have a EU passport? Do you speak Italian or know of anyone who does who could assist you?

Getting a handle on true price versus the inflated prices for foreigners may also provde a hurdle. Notwithstanding the conveynacing process which at least in Greece, was again slow, bureacratic and was almost without exception dealing with poor customer service from lawyers, bankers and councils.....No wonder they are in the poo. Not that he was borrowing money either.

Given the GFC and economic fall out, there is probably still a little down side to prices if thats an issue. That is almost a given in Greece. Italy I have no knowledge of but would have somewhat similar issues even if not on the same magnitude.  

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Hi Buzz,

Great post and I can certainly tell you all those issues would certainly be reflective in Italy as well :)

Yes I do know Italian quite fluently and I do hold an EU passport fortunately so I think that'll be fine. I also have a lot of family there who I know would help but they are in the prosperous Nth of the country, not down the Sth or in the Islands where my preference is.

I absolutely do not want to build or renovate if I can help for that reason below, I know I would go through the same issues as your father and it would be too stressfull.

I think now would be a great time to buy in Italy cause of the exchange rate etc. Property hasn't gone done and probably won't, whilst they have their own issues with Public Debt it's chalk and cheese compared to Greece as they actually do have a very big economy making real goods etc, they are the 8th largest economy in the world from memory so I don't envisage a Greece styled issue anytime soon but anything can happen.

Thanks for your input and keep it coming guys, this is very interesting to hear peoples experiences etc.  

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littletee said: ↑
I think now would be a great time to buy in Italy cause of the exchange rate etc. Property hasn't gone done and probably won't, whilst they have their own issues with Public Debt it's chalk and cheese compared to Greece as they actually do have a very big economy making real goods etc, they are the 8th largest economy in the world from memory so I don't envisage a Greece styled issue anytime soon but anything can happen.Click to expand...
I think you should do some more research .  

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As an Italian, all I am going to say is to be very careful and choose carefully.

Further, squattors have rights in Italy and in some instances, if they stay in a property long enough, you may end up paying them off and they still keep the property.

Personally, I would a property in a place that I know and trust the legislation and have easy access to view it on a regular basis. Hire out a house when visiting Italy.  

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Thanks Chilliblue, will take it into consideration.....seems crazy those laws doesn't, are you sure it's like that these days?  

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Here you go:

http://www.keyitaly.com/article/how-to-buy-in-italy/

I was married in Italy and my wifes family bought/sold/transferred property down south. Its all a bureaucratic nightmare. But great fun.  

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hehe thanks Evan, yes I know that website, quite good :)

I'm sure you've got some funny stories to tell of the system over there, it's well known as "organised chaos" to a certain extent, no idea how the country runs but it just manages to do so lol  

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Its like driving around the centre of Rome. they get it and it works well. But to outsiders its a mystery. I think i got it after a few hours driving.

Don't worry about the lane markings, if your car fits, go for it and get on the horn (just to let people know you're there as they do). And watch out for the beautiful, designer dressed women on their Vespas.....Ahhh....love the place.

I found if you want anything done, humor, endless patience and a smile helps.

littletee said: ↑
hehe thanks Evan, yes I know that website, quite good :)

I'm sure you've got some funny stories to tell of the system over there, it's well known as "organised chaos" to a certain extent, no idea how the country runs but it just manages to do so lolClick to expand...
 

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hehe nice one Evan.

We got stuck driving round and round the centre of Rome in Summer last year because of road diversions - and that was WITH a Sat Nav as well and my Italian cousin from the Nth driving, it was like a scene out of National Lampoons in Paris when he goes round and round lol :)

Ahhh I love the place and agree with your thoughts below :)  

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I've bought & sold there, if your not local you will get ripped off blind at every step of the process.
And because your not local there will be many extra steps.  

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Hi Piston,

Care to share your experience(s)? Would love to hear them.

Cheers  

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ohh the mediterraneans have so much in common....  

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littletee said: ↑
Hi Piston,
Care to share your experience(s)? Would love to hear them.
CheersClick to expand...
Let me give you a hint of how biz is done over there.
In Australia you need something, so you go to an office, fill a few forms show some ID and you walk away with it or it gets mailed in 7-10 days.

In Italy you need something done, so you go to office and get:
ITA. The person your looking for is not here today, come back in a couple days.
But I would like it today.
ITA Sorry we cant do that you have to speak to him, come back in a few days.
A few days later.
Tee. I need to get an XYZ
ITA. An XYZ!? Why do you want an XYZ for?
Tee. I want to buy a property
Here in Italy? You americano?
Tee. No Australian
Ehi kanguro! My uncle is in Australia, he is blah blah
...an hour later
So how do I get my XYZ
Itsa gona taika a little while
How long?
Itsa dependa onnalotta tings, not so sure
So what do I do?
Filla thissa paper and we see watta we canna do.
...one week later
I'm here to ask about my XYZ
What XYZ?
The one I filled out the paper for last week
Ohh, i rememba. Itsa still not processed, come in tomorra and I see for you.
...next day
I'm here to ask about my XYZ
Hesa notta here today, come back cupla daiz
Do you know anything about it?
Oh no, that for him. He be back cupla daiz.
...2 days later
Itsa not here yet, givva you numba and I ring you
...a week later
I'm just checking on my XYZ
Hesa notta here today, come back cupla daiz
But he said he'd ring me
Hesa notta here today, come back cupla daiz
But it's urgent
But hesa notta here today, come back cupla daiz
...a week later
I'm just checking on my XYZ
Hey amico, come va? We have a small problem the bigga office wantsa another paper, filla this one and I see for you.
The process repeats.
...one week later
I'm here to ask about my XYZ
What XYZ?
The one I filled out the paper for last week
Ohh, i rememba. Itsa still not processed, come in tomorra and I see for you.
...next day
I'm here to ask about my XYZ
Hesa notta here today, come back cupla daiz
Do you know anything about it?
Oh no, that for him. He be back cupla daiz.
...2 days later
Itsa not here yet, givva you numba and I ring you
...a week later
I'm just checking on my XYZ
Hesa notta here today, come back cupla daiz
But he said he'd ring me
Hesa notta here today, come back cupla daiz
But it's urgent
But hesa notta here today, come back cupla daiz
...a week later
I'm just checking on my XYZ
Hey amico, come va? We have a small problem the bigga say the paper not right, filla this one again and I see for you.

So after a few months you may actually get something, though i doubt it.  

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littletee said: ↑
Thanks Chilliblue, will take it into consideration.....seems crazy those laws doesn't, are you sure it's like that these days?Click to expand...
Positive. I am from Italy and have sold some property there for that reason.

It is an unusual place and like Piston stated, unless you are a local (and I mean from that exact region) good luck.

You will need a support base in place and the Italians will happily rip you off and you will never have any idea.  

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