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New buildings in Italy
Location and climate
Italy is located on the Apennine Peninsula, in the northwest of the Balkan Peninsula, on the Padan Plain, on the southern slopes of the Alps and on the islands of Sicily, Sardinia, and a number of small islands. It is bounded by the following seas: Ligurian, Adriatic, Ionian, Tyrrhenian, Mediterranean. The country is a part of the European Union and NATO.
The climate is influenced by the seas, as well as the Alpine mountains, which hinder the winds, and is classified as Mediterranean.
For the information of the investor: economy, culture, education in Italy
Italy can be described as a predominantly industrial country with a high-tech north and an agrarian south. The most developed sectors of the economy are: metallurgy, mechanical engineering, chemistry, petrochemistry, food production. This country is the largest supplier of cars: Alfa Romeo, Ferrari, Lamborghini, Maserati, etc., mopeds, bicycles, tractors, car tires, washing machines, refrigerators, electronic products, steel pipes; clothes, shoes, jewelry are also produced. Citrus fruits, tomatoes, olives, grapes are grown here, wine is made, and they are engaged in floriculture and poultry farming. Italy is the largest tourism center (the country ranks third in the EU after France and Spain).
Education is at a high level: there are 56 universities (47 are public and 9 are private).
Italian culture largely predetermined the development of art throughout Western civilization. Italy was central to Renaissance Europe, dominating its artistic life in the 16th and 17th centuries, creating the Baroque style. In the middle of the 19th century, it formed such artistic trends as futurism, metaphysical painting, novecento, etc. The country gave the world the greatest artists: Leonardo da Vinci, Michelangelo, Raphael, world famous writers: Dante Alighieri, Gianni Rodari, Umberto Eco.
Buying an apartment in Italy in a new building is still profitable
Italy in recent years has been able to avoid a construction boom and over-saturation of the real estate market, so the negative impact of the pandemic did not lead to a sharp drop in home sales in almost all regions of the country. As a rule, the sale of apartments from developers is carried out within one year (we are not talking about expensive villas). Most of the new buildings are for sale either in resort areas or in large cities (Rome, Milan), traditionally attracting foreigners. The only exception to the rule is Venice, where there is almost no free space for the construction of new buildings.
Due to the high demand and limited supply, prices for real estate in Italy in the new buildings are significantly higher than for secondary real estate. Italians themselves prevail among buyers; they often make transactions even at the construction stage. At the same time, there is no doubt that residential complexes in Italy are commissioned on time. A significant advantage of the new buildings is the use of the latest technologies in compliance with standards. In addition, new housing in the residential complexes is handed over with full finishing and plumbing (sometimes with a set of kitchen furniture); the quality meets the standards.
The lowest price per square meter in a new building from a developer in Rome handed over in black frame condition (according to the information of the real estate search engine GEOLN.COM) is 2,545 USD.
Purchase of apartments from the developers in Italy by foreigners.
Foreigners are able to buy apartments with the same rights as the citizens.
Purchasing an apartment in a new building in Italy is an attractive investment that will bring a stable rental income in one of the most visited countries with excellent natural conditions and rich culture.