Italy is certainly going through a revival of its real estate market. I am witnessing this growth firsthand as I have invested in properties in Puglia. Since the bond market yields have been very low and capital gains stay in the margins, real estate investment yields are very attractive holding at more than 5% net per year. The growth in holiday rentals and B&B tourism has substantially changed the market. This trend has seen a great expansion in Puglia. I believe now is the best time to invest in a rental property in this region and here are the reasons why:
1. Tourist Boom
Puglia has seen a serious boom in tourism lately and continues to rise with no signs of fading. As a region with much to offer and continuously implementing services and infrastructure to cope with increasing holiday-makers, investing now in its property market means a golden future for this land rich in history, culture, poetic nature, and culinary delight.
2. High Investment Yield
Puglia is blessed with a long rental season. Often rentals go as long as 7 months from April to October. In my own experience, Puglia has plenty to offer even in the off seasons. November sees the rich olive and grape harvests and spring brings the magnificent Easter holiday and its festivals. In the last three years Puglia has attracted international visitors with high spending and purchasing powers. These are grounds for guaranteeing high returns on property investment.
3. Property Value and Growth Prospect
You can be certain investing in a property in Puglia has excellent growth potential. Currently prices are great value for money. There are properties to meet every budget. For restoration projects, a trullo, the iconic fairytale farmhouse starts from Euros 25,000, a modern 2 bedroom villa starts from Euros 65,000, while a 3 bedroom costs around Euros 100,000.
For those that want ready properties, Euros 250,000 can buy a villa by the sea or a beautiful house in the Apulian countryside. Investors keen on bigger properties can buy the infamous monumental farmhouses called Masserie for around Euros 450,000. These are just a few reasons to invest in Puglia now because in medium to long term property values and selling prices are destined to increase. There is a property for all tastes, budgets and needs such as:
Trullo – Dry stone conical roof farmhouse
Lamie – Square-shaped house with vaulted roof
Masserie – Elegant and vast working farmhouse
Modern villa – Contemporary house made with traditional architectural details
4. Personal Use
By investing in a rental property, you will generate income from short or long term rentals, but you will also have the property to enjoy for personal use at any time of the year. You can rent the house for longer or less periods and be able to use it for your own pleasure. Puglia is blessed with a mild climate most of the year which allows for renting in months with greater demand and personal use when demand is low.
5. Great Political, Social, and Environmental Conditions
Puglia is safe and prosperous with well managed facilities and infrastructure. The region has a strong sense of community and very low crime rate. Locals know each other with a network of neighborly support system. Due to low rainfall, compared to the rest of Italy, Puglia experiences almost no earthquakes and natural disasters. From this point of view, buying property in Puglia is a very safe investment.
6. Low Maintenance Costs
When investing in a rental property, it is essential to have low maintenance costs so you may enjoy a rewarding income. Puglia takes advantage of low maintenance costs and cheaper work rates, allowing your property to benefit from excellent conditions.
7. Great Accessibility
For second-home buyers, Puglia has been a popular destination for northern Italians. And now international buyers can reap the benefits of low-cost airlines with great offers. Today Bari and Brindisi international airports see flights from all over the world and growing each year.
8. Benefits of Property Management Companies
Owners who decide to invest in Puglia but are unable to manage their property can rely on a multitude of property management companies that operate in their area. These companies market to local, regional, and international rental circuits and have great track records in producing consistent yearly income. Our company offers this service in addition to property investment consulting. So, if you are thinking of buying a dream holiday home in Puglia, let us know and we will show you marvelous properties based on your budget and taste.
Contact me to discover more: Neda@namazirealestate.com