How GCC nationals are maximising their investments with Italian property?

Why Italy?

The declining value of the euro and particularly its devaluation against the Dirham is encouraging UAE investors and second-home buyers to look at property in Europe. 1 Euro is currently worth AED 4.16 compared to AED 5.30 in 2011.

With Greece still being perceived as high risk and Spain and Portugal seen as struggling, Italy’s residential-­property sector is swiftly gaining a reputation as being competitively priced and lucrative. Whilst prices have remained low; particularly for structurally sound properties in need of restoration, the market is on the up, creating the opportunity for excellent returns on investment both in the short and long term.  This coupled with Italy’s culture of food, fashion and style makes it an attractive 2^nd home proposition.

Italian property prices are currently 30 per cent ­below their peak, but as the market continues its recovery (forecast’s reveal an expected property price increase of 35 – 40% between 2019 and 2025), savvy UAE developers paying predominantly in US$ are keen to invest whilst the dollar maintains it strong course against the euro.

Favourite locations have previously been Tuscany, Lake Como, Portofino and Capri however the sun blessed region of Puglia, on the heel of Italy, has in the last 5 years seen an exponential increase in interest due to its chalky beaches, plentiful olive groves, fabulous cuisine, stunning Baroque architecture and plethora of elegant properties in need of restoration.

How can Claudio Modola Design help you create a stunning second home and maximise your investment in the Mediterranean?

We understand that it can initially appear challenging purchasing a property to restore abroad. However, as a result of our established bases in the UAE and Italy, the bi lingual Claudio Modola Design team is able to offer the practicality of dealing with a local UAE architectural studio whilst having the structure, know how, expertise and experience to allow you to build or restore a stylish second home in Italy, without the usual problems of a long-distance project.

We achieve this with our customised two-step process: –

Stage 1 – Italian Home Review

In which we will: –

1. Talk with you about your requirements in terms of purchase price range, budget for restoration, property size, preferred location, number of rooms, lifestyle requirements, investment objectives etc
2. From there we shortlist and arrange viewings of a number of suitable properties which we feel have great potential to become extraordinary homes and meet with your parameters.
3. Facilitate preliminary discussions with the owner of the property and connect you with an English-speaking advocate to oversee the purchase on your behalf.

Stage 2 – Design Process, Construction and On

In which we will: –

1. Create a detailed architectural design and / or interior design for the property utilising the skills of local artisans and the wealth of local natural materials.

(Turn key services are also available if required)

2. Provide coordinated structural engineering drawings for the project through a local Geometra.
3. Acquire all authority approvals for the construction process to commence.
4. Shortlist a selection of reputable contractors with proven track records to tender for the construction process.
5. Supervise the construction process as lead consultant until successful handover of the property.
6. Dress the property should interior design services be requested.
7. Produce relevant marketing material, should the client wish to rent the property for increased revenue. Typical material includes logo’s, brochures, drone images, rendered floor plans, computer imagery, video’s, professional photos, etc
8. Identify an estate agent to list the property for holiday rentals or immediate sale in the case of speculative investments.

In short to be your eyes on the ground, leaving you free to concentrate on your business abroad.

As far as investing in Italy is concerned, the facts speak for themselves and if you would like to explore the available options whilst the market is on the up, don’t hesitate to get in touch by writing us a mail or giving us a call on :- options@claudiomodola.com or on Tel Italy + 39 339 357 3420 or Tel UAE: + 971 55 484 7188.