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    Italy: prices rise in the areas served by low-cost airlines

    Italy: The number of real estate investment opportunities available for local and international buyers is increasing in the areas served by low-cost airlines. The impact of air traffic on the development of the real estate market is evident above all in tourist resorts, where it can give a significant contribution to economic growth.

    According to the data released by Nomisma, Trapani, Cuneo, Parma, Perugia and Cagliari airports have registered the highest increase in terms of international arrivals among Italian regional airports. Foggia, Cuneo, Parma, Bergamo and Treviso have been chosen by an increasing number of national passengers.

    The number of real estate transactions has decreased in 2009 in all of these towns, due to the economic crisis; prices, instead, have soared by 18% between 2005 and 2009, exceeding the national average – in Trapani there was a 27%-price rise; in Pisa prices rose by 26% and in Pescara the increase reached 21%.

    Real estate agents working in Sardinia talk about a real “low-cost effect”, as the new routes have boosted investors’ desire to own a second home in Cagliari – that has registered an increase of 5.5% in arrivals in 2009 – Olbia and Alghero.

    Many potential second-home buyers come from Lombardy, Veneto and Tuscany. Reasearches about properties for sale have risen by 115% in Sicily and by 31% in Sardinia. Tuscany is always British investors’ favourite investment destination.

    Trapani airport has passed from 2200 to 301000 international passengers thanks to the connections with London (UK), Stockholm (Sweden) and Dublin (Ireland), in just five years.

    Holiday rental contracts are on the rise in Trapani and since the town is beautiful and overlooks the sea, many investors opt for the purchase of a home to make a buy-to-let investment; indeed, they lease out their property when they do not use it. This happens on the islands, too: for example, in Favignana or in San Vito Lo Capo.

    Despite the recent rise, real estate prices in Trapani have remained low in comparison to some other Italian seaside resorts. The average price in the town amounts to 1450 euros per square metre, approximately. The town attracts mainly local buyers or investors coming from northern Italy. There are only a few foreign investors.

    On the occasion of the 2005 Americas Cup, the historical centre was redesigned and old houses were renovated. Those who bought a 100-sqm home for 20-30 thousand euros in 2005 made a real bargain.

    The impact of air traffic on the development of real estate market has been strong in Abruzzo, too; low-cost flights to Pescara have made some hidden areas of Italy accessible. Many English investors arrived two years ago in search of a holiday residence.

    The area surrounding Cuneo, instead, has not taken advantage of the increase of arrivals, because there is not a demand for short-term rents and a buy-to-let investment could not grant any return. This is due to the lack of roads and connections.

    Click on the following links to learn more about the Italian property market:

    -          Investing and living in the region of Salento

    -          Italy: Lignano Sabbiadoro approves the construction of new modern buildings

    -          Italy: prestige real estate properties for sale in Bormio

    -          Italy: The luxury market is more than ever alive

    -          The opportunities offered by the real estate market of Pollino National Park

    -          Mansards and lofts: Alternative housing solutions in Italy

    -          It pays to rent a home in the hinterland

    -          Sardinia calls the attention of Italian and overseas investors

    Real Estate Listings

    Cod. 25152

    For sale Villa, Italy, Bergamo, mapello, via villa gromo,1

    13,348,800.00USD
    For sale
    Villa

    4500 m²
    The Villa Gromford is a complex of over 4500 square meters of buildings in a park of 20,000 square meters and farmland merged with a total area of ​​a...
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    Cod. 24892

    For sale 2 Bedrooms, Italy, Bergamo, Villa D'Ogna, VIA PROVINCIALE, 610

    55,620.00USD
    For sale
    2 Bedrooms

    45 m²
    FURNISHED APARTMENT NEAR A NEW TOURIST AREA WITH PRIVATE CAR PARKING. Price negotiable
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    Cod. 23992

    For sale Terraced House, Italy, Bergamo, Cividate al Piano, VIA ILARIA ALPI 14

    266,976.00USD
    For sale
    Terraced House

    205 m²
    SELL TERRACED HOUSE IN THE CONTEXT OF 4 UNITS 'FORMED: - BASEMENT: BOX, basement, laundry, cellar. - GROUND FLOOR: EXCLUSIVE GARDEN, PORCH, LIVING...
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    Cod. 22553

    For sale Other (Commercial), Italy, Bergamo, Lovere, lago iseo

    18,910,800.00USD
    For sale
    Other (Commercial)

    4800 m²
    HISTORIC BUILDING ON THE LAKE Splendid and charming historic palace of 1400 year, on the shores of lake, with 2 beautiful courtyards.With a panoramic...
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