Please register if you want to contribute!

Author Topic: Selling your house in Italy  (Read 1077 times)

0 Members and 1 Guest are viewing this topic.

Offline Vignaverde

  • Hero Member
  • *****
  • Posts: 959
    • Vignaverde Srl
Re: Selling your house in Italy
« Reply #15 on: September 11, 2017, 08:21:41 AM »
Sorry to hear about your friends PJM, what a horrible thing to happen.

As some may expect  ;)  I will take issue with some of Piano Piano's comments as I do hear this often. Agents are often accused of saying 'anything for the sale' but to be honest we have more experience than most when it comes to house sales and judge an industry on your own experience or even that of a few friends is incorrect and I disagree when you say buying here is not an investment, I could give you many examples that disproves what you are saying. We have a few investors who do very well buying and selling here and just like anywhere else you need to be experienced to do this, it is not something you pick up by watching a TV show. The UK is not the market place at the moment that it was 15 years ago where money could be made even by amateurs. I know many people who rent their houses out here and do very well and when you consider the prices you can buy things here the rental percentage per year can actually be very very good. Italy has always had a stable housing market and lets remember Abruzzo is a new market, it became very very popular just as the world crisis hit so it has not had the best of luck in that sense but it has still climbed to the second most popular region for foreign buyers according to Rightmove and a place in the sun.

Had I have known what would happen within a 10 mile radius of where I am (and if I had the money!), I would have invested heavily here and reaped the benefits. Now when we talk about our own homes this is a different thing, if you have lost half the value of your home I would say you either bought it for too much or have spent too much because the market has not reduced. The problem you do have in an up and coming area is the short term buy do up and sell is not there yet because there will always be a ruin down the road that someone can buy instead of yours and spend the money getting it how they want, once these have gone, the market changes again.

I know many who buy cheap properties and do them up over time, this is fantastic but if your budget only allows you to buy in a remote area where not much happens, no matter how much you spend on it there will always be a problem selling until the market grows over a long period. I would always advise (unless you never want to sell) to consider location over everything.

Another thing I have noted over the last couple of years is the amount some people bought their properties for in the early years (around 10-15 years ago) the market was fresh and the exchange rate was fantastic, prices at that time were heavily inflated and the fact that it was still so cheap compared to anywhere else people snapped up the houses on offer. As more agents opened up to foreign buyers the prices became more realistic, the only positive for those who over paid (which is a big positive) is that if you are selling to take the money back home you could potentially make up the difference you have lost on the house with the strong Euro to pound rate. I had a client who sold recently who bought when the pound was worth over 1.50 he has recently changed his money back to pounds and made E40,000 on the exchange rate!

I am not saying the streets are lined with gold but I do not think anyone can say with such certainty that you will never make money and you will loose unless they have lots of experience in this industry.
Estate agents in Abruzzo www.vignaverde.com
Day seminar event in the UK www.liveladolcevita.co.uk


Offline Lola

  • Full Member
  • ***
  • Posts: 192
Re: Selling your house in Italy
« Reply #16 on: September 11, 2017, 09:57:11 PM »
I find VV's post totally amazing. The number of people on this forum who have had to sell up at tremendous loss and return home, is heartbreaking to say the least. We have all read the posts over the years and I can honestly say I recall NOT ONE that has mentioned making a profit, however small. The property market all over Southern Europe has been in decline for the last 10 years and will remain so for many more years to come. Great if you want to buy in Italy and have no worries about losing money. As for the UK market, I thank my lucky stars that I stuck my guns and would not agree with my husband when he wanted to sell our south coast home and move the proceeds to Italy. I really would have been up sh1t creek without a paddle.
Never make eye contact with weirdos.

Offline Vignaverde

  • Hero Member
  • *****
  • Posts: 959
    • Vignaverde Srl
Re: Selling your house in Italy
« Reply #17 on: September 12, 2017, 09:34:20 AM »
Lola I do not want to start an argument, I am giving my side and as I said early in my post a handful of people giving their side does not reflect on a market. Each case would have to be looked at as to why losses were made, in some cases it could be a change in the market in a certain area in others it could be a completely different story. My job is working in the property market, I will not say I know it all but I have had over 10 years experience in it and know many others who have been in it longer than me.

If you are talking about the south european market as a whole and you drag Spain into the figures then this would be different BUT having said that Spain is the most popular market around. I am talking about here in Abruzzo and the experience I have had and what is happening now.
Estate agents in Abruzzo www.vignaverde.com
Day seminar event in the UK www.liveladolcevita.co.uk

Offline Lola

  • Full Member
  • ***
  • Posts: 192
Re: Selling your house in Italy
« Reply #18 on: September 12, 2017, 11:15:18 AM »
I was also talking about Abruzzo. I have been connected with the area for the last 37 years having bought and sold property. Never have I seen things so bad.
Never make eye contact with weirdos.

Offline Vignaverde

  • Hero Member
  • *****
  • Posts: 959
    • Vignaverde Srl
Re: Selling your house in Italy
« Reply #19 on: September 12, 2017, 11:27:52 AM »
I suppose we will have to agree to disagree on this one  :)
Estate agents in Abruzzo www.vignaverde.com
Day seminar event in the UK www.liveladolcevita.co.uk

Offline David Kaylene

  • Newbie
  • *
  • Posts: 4
Re: Selling your house in Italy
« Reply #20 on: September 12, 2017, 11:54:11 PM »
I have only been in abruzzo a few years and although I feel for the people that have posted I can only agree with VV regarding properties. I have flipped many properties in the UK and made money. The market is different here but the principles are the same. If you are looking to make money on property in the abruzzo region it is possible but you have to do your homework, buy at the right price, spend only the budget you set and also be prepared to wait for the correct buyer to take it off your hands as well as the right exchange rate. My little experience here is that people buy for the lifestyle and the whole journey that comes with it and from what I have seen, if you do this you are unlikely to make a profit. I have a ruin which I bought not for future profit. Once it is renovated it will probably break even on what I could sell it for but I have no intention of ever selling as I have fallen in love with the area.

Offline GeordieBorn

  • Jr. Member
  • **
  • Posts: 94
Re: Selling your house in Italy
« Reply #21 on: September 13, 2017, 11:15:47 AM »
Welcome David. A member since 9th June 2016 and your first post, it really must be a subject close to your heart (and wallet perhaps) ;D It would be nice to have more of your insight into the buying and selling aspect of the region. I have to admit to reading VVs post and being a little dismissive of a one off vote for making a profit here. Post here in this thread and many older posts support the opposite, as does many on several other forums Ive been reading for a number of years now sad I know.

Offline Vignaverde

  • Hero Member
  • *****
  • Posts: 959
    • Vignaverde Srl
Re: Selling your house in Italy
« Reply #22 on: September 13, 2017, 11:34:12 AM »
Hi Geordie Born. If David is who I think he is then yes he did buy a property from me a few years ago. If I wanted to be so obvious I would bombard the site with many clients. I presume you are not accusing me of asking people to back me up because I do not need to do this. I have been on this forum for many many years and I have never asked anyone to back me up and never would, I repeat, I do not need to.

I haven't seen David in a while if indeed it is the person I think,  great to hear from you !   :)

I often get trampled on by some on here which is fine, I have very broad shoulders. The problem is SOME people will not see another side to a story, I try and put this across not because I want to sell houses (oooh look a cheap plug) but because I think it is good for the forum and so do others, I contribute like everyone else whenever I can and about many subjects. On this subject I have over 10 years experience and counting, I too can be dismissive about a handful of people you know but this is not the point. If you choose not to consider my opinion then that is your right just in the same way I am giving mine and have done for around 9 years.

What I will say and this is not rehearsed between the two of us but the point David makes about people who 'buy for the lifestyle and the whole journey that comes with it'  is a very good one.   
« Last Edit: September 13, 2017, 11:39:07 AM by Vignaverde »
Estate agents in Abruzzo www.vignaverde.com
Day seminar event in the UK www.liveladolcevita.co.uk

Offline David Kaylene

  • Newbie
  • *
  • Posts: 4
Re: Selling your house in Italy
« Reply #23 on: September 13, 2017, 02:25:01 PM »
Hi Geordieborn,
Yes it is a subject which I am passionate about. In the UK I know the flipping houses business well and all I am saying is you can do this pretty much anywhere if you are in the know but most people from my limited experience in abruzzo have like I said, bought into the lifestyle just like me.
Hi David, yes it is me. I hope you are well, I haven't seen you for over a year so must catch up at some point. And to be clear. I only speak as I feel and on this occasion I mainly agree with VV but trust me when I say if I disagree on a post that I have read, regardless who it is I would express my view.  Who from or where in abruzzo I bought my property from is irrelevant.

Offline levissima

  • Administrator
  • Hero Member
  • *****
  • Posts: 2588
Re: Selling your house in Italy
« Reply #24 on: September 13, 2017, 07:20:18 PM »
There's no point arguing about it, we all have different experiences and circumstances.

I've known both people who have done well and who have lost when selling here but, whilst I accept VVs expertise, based on a much more experienced assessment of the market, I don't think you can compare the market here to the one in the UK. The UK housing market is completely different to the one here.

Offline David Kaylene

  • Newbie
  • *
  • Posts: 4
Re: Selling your house in Italy
« Reply #25 on: September 13, 2017, 08:56:02 PM »
Hi levissima,
I wasn't arguing with anyone I didn't comment to even cause an argument. I was only stating my thoughts and I have not compared the market here to the UK in any way. I stated that if you know what you are doing you can flip houses in pretty much any country.

Offline Cassius

  • Sr. Member
  • ****
  • Posts: 370
Re: Selling your house in Italy
« Reply #26 on: September 13, 2017, 09:17:07 PM »
Hi levissima,
I wasn't arguing with anyone I didn't comment to even cause an argument. I was only stating my thoughts and I have not compared the market here to the UK in any way. I stated that if you know what you are doing you can flip houses in pretty much any country.

Thing is that the vast majority of people who buy a property here don't do so in order to "flip" it. They buy because they fall in love with the region and want to make a life here.  Some of us have found that harder to achieve than others and have sold and/or moved on - but usually with a heavy heart. 

Offline David Kaylene

  • Newbie
  • *
  • Posts: 4
Re: Selling your house in Italy
« Reply #27 on: September 13, 2017, 09:57:21 PM »
Hi Cassius,
If and when I am in a position to make a full time move here I will jump at the chance and if circumstances change and I had to leave, it would also be with a heavy heart. I come here on average once a month for 4-5 days and hate leaving. I agree most people don't buy to flip and make money and I haven't either. I bought because I liked the area and the people I met and the culture and I could go on.

Offline levissima

  • Administrator
  • Hero Member
  • *****
  • Posts: 2588
Re: Selling your house in Italy
« Reply #28 on: September 13, 2017, 11:29:14 PM »
My post wasn't directed at you David, just a general observation.

Offline PJM

  • Newbie
  • *
  • Posts: 42
Re: Selling your house in Italy
« Reply #29 on: September 14, 2017, 01:46:21 AM »
We all make mistakes when following our hearts but I think buying any house(home) and also in Abruzzo is similar to buying in the Uk apart from(investment ) we don't have the background knowledge of the Italy and we are usually in the sun and in a hurry. In the Uk we have time to ask about the area ,check the prices ( thats hard in Abruzzo ). I have sat in my car for hours outside a cottage I wanted to buy in the UK ..looking to see the neighbours , vans parking etc Not that time when buying abroad.

I never bought in Italy expecting the price to rise like the Uk ..it wasn't an investment a dream.it has been a good investment and several past renters have asked to buy it ..no way am I selling yet, I will wait until my I can't climb the steps onto Ryainair.

 I meet people from the Uk who are doing up houses in the village as an investment ..I usually reply think carefully it's not an investment like the UK ..if you want an investment then buy a student house in the UK !!

I just think after friends talking who are full time in Italy it's the British things they miss especially in the winter , cinema , theatre etc . Well if you ask me what I would miss about the UK it's village life and the WI ..family ! So many times I think about moving full time to Italy but something stops me ..but on the grey winter days or times I have been in the wet Uk in August I could jump on a plane .
So if you do move back to the Uk it's just like living Italy and if you don't find the right place..buy and be short of money  it could be as disappointing as living in Italy as for some of you who post on this site  ..apart from you will have rain and not the sun.
I am sure the area has many successful stories and many that are not successful  ..thats life !!