Italian market one to watch in 2015 as UK and American property buyers return

Italian market one to watch in 2015 as UK and American property buyers return

Italy
  • Italy receives three times as many enquiries from potential property buyers in Jan 2015 vs Jan 2014 (Savills)
  • Favourable exchange rate with £1 = €1.40 tempts UK and American buyers back to Italy
  • Tuscany is most researched region in Italy (Rightmove Overseas, April 2015)

Since the global financial crisis back in 2007, Italy has fought hard to return as a competitor within the European real estate industry but with recent reports suggesting that the worst is now over, it’s now re-emerging as a hot property market.

Global real estate consultants Cushman & Wakefield’s provisional figures for 2014 reveal a 20%+ growth in commercial real estate investment in Italy in comparison with the previous year and it is predicted that this trend will continue in 2015.

Savills too confirms this latest movement in the Italian housing market, having received three times as many enquiries from potential buyers this January vs January 2014. Savills’ Associate Director of the international department suggests that a catalyst for this latest spark of interest in Italian property is an increase in UK and American buyers. Having diminished in recent years these buyers are now returning, with a weakening Euro creating an array of attractive property prices.

With the current exchange rate favouring the US dollar and the British pound, foreign buyers can expect to get more for their money and thus consider a wider range of properties. The PwC and Urban Land Institute’s ‘Emerging Trends in Real Estate Europe 2015’ report emphasises that Italy can offer some of the best property opportunities in Europe, with numerous options available in Puglia, Lake Como and Tuscany. These areas are traditionally popular with overseas investors and continue to appeal to potential buyers, especially those based in the United States.

Foreign buyers often have an affiliation with the region in which they purchase, be it a previous visit, family connection or a longstanding love affair with la dolce vita. Simone Rossi, Marketing Manager of Tuscany’s Terre Gialle Residence & Resort, a 20-acre estate offering a range of property options, comments further on the ideology of many buyers and the current status of the Euro in the global economy,

“When foreign buyers look to Italy for a second home or investment opportunity, the majority will have a dreamlike image of Italian life and how they can immerse themselves in the traditions and culture. We have definitely noticed an influx of inquiries from UK and American buyers looking to fulfil this dream with buyers specifically interested in Tuscany.

“With the latest expert exchange rates forecasts suggesting that the Euro is set to remain the weaker global currency for the immediate future, today’s overseas buyers are presented with the chance to purchase beautiful Italian property at a reduced price.”

According to Rightmove Overseas’ statistical data for April 2015, Italy is within the top 5 most searched for countries in relation to purchasing properties abroad. The report also highlights that Tuscany’s real estate market is currently the most researched region in Italy, confirming its status as an indisputable favourite location amongst foreign buyers.

Set in the celebrated rolling hills of the Tuscan countryside is the beautiful Terre Gialle Residence & Resort, an estate that is becoming a firm favourite with both UK and US buyers. The Residence at the heart of this distinctive estate has origins dating back to the 18th century, ensuring that the apartments housed therein are unique and full of traditional charm whilst having been restored to high modern standards.

Featuring wood-beamed or vaulted terracotta ceilings, stone walls and handmade furniture, the studio, 1 and 2 bedroom apartments available on a whole ownership basis, reflect the original character of the building, with prices ranging from €93,500 to €176,000. Alongside this, the Resort offers a range of modern 1 and 2 bedroom apartments and 3 bedroom villas available on a shared ownership basis, where 1/12th fractions, start from €28,000 (excluding maintenance costs), providing four weeks usage a year.

Terre Gialle Residence & Resort exudes a unique elegant atmosphere with high quality services, a swimming pool with whirlpool, a well-kept park with nature trails and sports facilities, a tennis court and bowling green. As well as an array of extensive onsite facilities, the ancient town of Castel del Piano is only a five minute drive away or a ten minute walk, offering cobbled streets, wondrous architecture, local cuisine and friendly residents.

For more information about Terre Gialle Residence & Resort, visit www.terregialle.com, email info@terregialle.com or call 0203 637 2215.

Rise in Italian tourism sees Tuscany continue to shine

Rise in Italian tourism sees Tuscany continue to shine

Italy
  • Italy’s economic growth forecasted at 0.6% this year and 1.4% in 2016 (The European Commission)
  • In 2014, Italy generated €34.8bn in visitor exports, set to increase by a further 2.5% in 2015 (WTTC)
  • Italy ranks highly on The Travel & Tourism Competitiveness Index 2015, positioned 6th for Culture and Entertainment and 2nd for Natural Tourism (World Economic Forum)

The European Commission has recently forecasted Italy’s economic growth at 0.6% for this year, increasing further in 2016 to 1.4%. This positive progression has been prompted mostly by external demand and investment, with foreign tourism becoming a key element within Italy’s phoenix-like economic rise.

The Travel and Tourism Competitiveness Index 2015, constructed by the World Economic Forum (WEF), highlights the significance of Italy’s growing tourism industry, jumping to 8th position having only been ranked 26th in 2013. The report places Italy amongst the best in the world on digital demand for Culture and Entertainment, as well as Natural Tourism, ranking 6th and 2nd for each respectively. With a vast array of landscapes, from stunning golden coastlines and iconic sweeping countryside to the snow-kissed mountains of the Dolomite range, Italy abounds with natural splendour, with the undisputable heart of this beauty the region of Tuscany.

Tuscany is blessed with an abundance of both unparalleled culture and celebrated landscapes and continues to be a favourite destination amongst tourists from all over the world. The region is immediately recognisable to foreign visitors by its scenery of picturesque rolling hills and charming ancient towns, becoming emblematic for the global perception of Italy.

Yet, whilst the traditional Tuscan scenery is renowned worldwide, set in the deep south of the region is the wild landscape of Maremma, a landscape at complete juxtaposition with the straight rows upon rows of endless vines and steadfastly straight cypress trees commonly thought of as Tuscany. A more hidden, untamed area of Tuscany, the Maremma offers truly natural authenticity and allows visitors to embrace a lifestyle based on respect for the surrounding nature.

Terre Gialle Residence & Resort is situated on the slopes of Mount Amiata in Maremma, and Marketing Manager Simone Rossi explains how its nature-furnished location has sparked a wealth of interest,

“We have definitely noticed an increase of enquiries related to the natural charm of Tuscany when speaking to potential buyers, with specific interest in relation to the area and what Mount Amiata has to offer, something that just cannot be found elsewhere. Our estate overlooks some of Tuscany’s most pristine countryside, and with a majority of it still waiting to be discovered, the wild Maremma has the potential to provide visitors with the sought after familiarity of beautiful Tuscany, combined with a more exclusive and diverse natural setting.”

This vastly undiscovered area is dominated by the outline of Mount Amiata, Italy’s second highest volcano, and is home to a diverse group of flora and fauna throughout the seasons. With Italy’s natural tourism becoming progressively more prevalent, landscapes like the Maremma are being exposed with less well known regions starting to be explored.

According to The World Travel and Tourism Council (WTTC), Italy generated €34.8bn in visitor exports in 2014, with this figure expected to grow by 2.5% this year. With 49,697,000 international tourists predicted to arrive in Italy this year, it would seem that this trend in foreign spending is only going to continue, with not only the most popular destinations attracting revenue but also more of the country’s unfamiliar locations, like the Tuscan Maremma.

The Residence at the heart of the beautiful Terre Gialle Residence & Resort estate has origins dating back to the 18th century, ensuring that the apartments housed therein are unique and full of traditional charm whilst having been restored to high modern standards.

Featuring wood-beamed or vaulted terracotta ceilings, stone walls and handmade furniture, the studio, 1 and 2 bedroom apartments available on a full ownership basis, reflect the original character of the building, with prices ranging from €93,500 to €176,000. Alongside this, the Resort offers a range of modern 1 and 2 bedroom apartments and 3 bedroom villas available on a shared ownership basis, where 1/12th fractions, start from €28,000 (excluding maintenance costs), providing four weeks usage a year.

Terre Gialle Residence & Resort exudes a unique elegant atmosphere with high quality services, a swimming pool with whirlpool, a well-kept park with nature trails and sports facilities, a tennis court and bowling green. As well as an array of extensive onsite facilities, the ancient town of Castel del Piano is only a five minute drive away or a ten minute walk, offering cobbled streets, wondrous architecture, local cuisine and friendly residents.

For more information about Terre Gialle Residence & Resort, visit www.terregialle.com, email info@terregialle.com or call 0203 637 2215.

60 seconds with… Terre Gialle Residence & Resort Marketing Manager, Simone Rossi

60 seconds with… Terre Gialle Residence & Resort Marketing Manager, Simone Rossi

Italy

Terre Gialle Residence & Resort is a picturesque estate covering almost 20 acres across some of the most pristine countryside Tuscany has to offer, combining both full and fractional ownership opportunities. Marketing Manager Simone Rossi explains more about the project, his role and the beautiful Tuscan lifestyle.

As Marketing Manager, what does your role include?

“I am responsible for promoting Terre Gialle Residence & Resort in the UK, whilst working closely with the Marketing Company Key Point Estates Limited to determine appropriate sales strategies in all market segments towards maximizing revenues. I also focus on creating lucrative sales targets and networking business relations to corporate clients, like airlines and tourist offices. I am always observing the market and identifying new trends whilst monitoring our main competitors.”

How did you become involved with Terre Gialle Residence & Resort?

“I currently work for the marketing company that has exclusivity for Terre Gialle Residence & Resort so it was a natural progression to come on board directly. I fell in love with the project as soon as I visited the estate and feel honoured to work for such a magnificent piece of Tuscan real estate.”

What does 2015 hold for the Italian property market?

“The real estate market in Italy was damaged during the 2008 crash and has been suffering in recent years, similarly to other European countries. However, there are a few regions in Italy, Tuscany included, that have been able to retain popularity in the international property market and this trend looks set to continue. If the first quarter of 2015 is as successful as the first quarter of 2014, then the Italian property market will be boasting an established achievement that is forecast to go from strength to strength.

“In relation to second home or holiday buyers, especially in areas of high historic and touristic interest where most buyers are cash purchasers, the market continues to be alive and appreciated. At a time when the Euro has weakened further still against both the U.S Dollar and the British Pound, the Italian property market could benefit from buyers from outside the Eurozone more readily able to purchase.”

With tourism at an all-time high, what is it about the region of Tuscany that continues to attract people from over the world?

“The Tuscan landscape is renowned globally, with its scenic beauty and historical eminence unparalleled, it is understandable that the region holds a special place in so many people’s hearts. There is so much to see and experience throughout the year here and the relaxed lifestyle synonymous with Tuscany continues to charm and entice tourists, both those that are arriving for the first time and those more regular visitors.

“Italians call this lifestyle ‘La Dolce Vita’, celebrating the pleasure of life and its simple luxury whilst indulging in the relaxed atmosphere to be found amongst Tuscany’s tranquil rolling hills. It is a way of life that everyone should experience, from the busy individual to families on their summer holidays. As well as exquisite countryside, Tuscany is also home to some of Italy’s most memorable cities including Florence, Pisa and Siena. It really should be top of the to-visit list if it isn’t already!”

Do you have a favourite element of the project/resort?

“I thoroughly enjoy my marketing role within Terre Gialle Residence & Resort as I can share with people why Tuscany is such an extraordinary place to visit, and the perfect setting for a second home. What I like most about the project is how it has developed and the real blend of historical and more modern characteristics throughout the estate. Combining both restored and brand new property, Terre Gialle Residence & Resort has something for everyone and represents the importance of Italy’s old and new within the region.“

What would be your advice for anyone looking to purchase property in Italy?

“Our main advice would be to ensure that anyone who is thinking of buying in Italy visits their region of interest and experiences all that it has to offer them. From historic sites to rural backdrops and coastal skylines, choose the location that is most desirable and research what property options are available there. We would also advise to enquire as to where there is a management company that performs routine supervision and management of the property to guarantee an enjoyable, hassle-free process.”

For more information about Terre Gialle Residence & Resort, visit www.terregialle.com, email info@terregialle.com or call 0203 637 2215.

Untouched Tuscany: Undiscovered ancient town emerges amongst growing tourist numbers

Untouched Tuscany: Undiscovered ancient town emerges amongst growing tourist numbers

Italy
  • In 2014 Tuscany attracted 209,000 additional visitors compared to the previous year (Toscana Promozione)
  • Overseas visitors made up 53% of all Tuscan tourists in 2014, an increase of almost 6% on 2005 statistics (Toscana Promozione)
  • Ancient hilltop town, Castel del Piano, an undiscovered Tuscan gem, boasts hidden charms including prolific horse event, the Palio delle Contrade

Endless rolling hills, punctuated by proud cypress trees standing tall against the glow of the setting sun. Where ancient hilltop towns emerge from the infinite green and art-laden cities hold a whole host of precious treasures. Tuscany is internationally famed for all this and so much more with ever increasing numbers of tourists attracted to its ranging lands and bountiful charms.

2014 saw Tuscany attract some 209,000 additional visitors year-on-year, according to the tourism arm of Toscana Promozione with Florence’s Centro di Studi Turistici revealed that increasing numbers of overseas visitors were arriving for holidays too.

Latest figures showed that overseas visitors made up 53% of all Tuscan tourists in 2014, an increase of almost 6% on 2005 statistics. Alberto Perruzzini, Director at Toscana Promozione is predicting even better things for 2015,

“We think that in 2015 there will be more arrivals from the US, Canada and China, while those from Brazil and Russia will get more stable. Anyhow, there should be a general increase of 2.5% in arrivals.”

Though a well-trodden path of tourism, there still remains certain less-uncovered realms within the Tuscan region, where it is possible to visit unencumbered by the throngs. One such location is Castel del Piano, an ancient hilltop town that holds many traditional charms yet also many hidden treasures, not widely discovered by those on the well-known Tuscany tourist trail.

Simone Rossi, Director of 20-acre estate Terre Gialle Residence & Resort, situated on the outskirts of Castel del Piano and boasting a range of property options, explains more,

“Tuscany is undeniably a magical region but Castel del Piano is something especially unique. This town, perched on the top of a breathtaking hill, is a real Tuscan treasure, and not just because of the showstopping vistas. Known locally as Città delle Chiese or City of the Churches, Castel del Piano has no fewer than eight, ranging from tiny hidden chapels to large eclipsing buildings that stop visitors in their tracks.

“With a historic gem to be unearthed around every corner, it is an unmissable location that has managed to retain its ancient charm, leaving it just waiting to be discovered. This is true Tuscany, but also different, special in its own unique way. It is a truly magnificent place.”

With Monte Amiata, a 600m volcanic cone close-by dominating the surrounding landscape, Castel del Piano is also famed within Italy as the host town of one of the country’s most prolific horse events: the Palio delle Contrade. This three-day horse race which sees Castel del Piano’s four quarters compete to win coveted prizes, takes place around the town’s streets and dates back to 1402. Alongside the race itself, the spectacle also sees festivities that bring the historic practise to life and provides real local flavour to an ancient tradition.

Comparable to the famous Palio of Siena, which draws huge international crowds, Castel del Piano’s, and her winding streets in general, are largely undisturbed by the masses and therefore remain the perfect location from which to explore the untouched Tuscany. Terre Gialle Residence & Resort, just five minutes from the town, is the ideal base for such a visit and a locale that reflects the historic nature of the region.

The Residence at the heart of the beautiful estate has origins dating back to the 18th century, ensuring that the apartments housed therein are unique and full of traditional charm whilst having been restored to high modern standards.

Featuring wood-beamed or vaulted terra-cotta ceilings, stone walls and handmade furniture, the studio, 1 and 2 bedroom apartments available on a full ownership basis, reflect the original character of the building, with prices ranging from €93,500 to €176,000. Alongside this, the Resort offers a range of modern 1 and 2 bedroom apartments and 3 bedroom villas available on a shared ownership basis, where 1/12th fractions, start from €28,000 (excluding maintenance costs), providing four weeks usage a year.

Terre Gialle Residence & Resort exudes a unique elegant atmosphere with high quality services, a swimming pool with whirlpool, a well-kept park with nature trails and sports facilities, a tennis court and bowling green.

For more information about Terre Gialle Residence & Resort, visit www.terregialle.com, email info@terregialle.com or call 0203 637 2215.

AB Property Marketing appointed to represent new Tuscan estate, Terre Gialle Residence & Resort

AB Property Marketing appointed to represent new Tuscan estate, Terre Gialle Residence & Resort

Italy ,
  • Terre Gialle Residence & Resort is a picturesque estate covering almost 20 acres across the beautiful Tuscan countryside
  • The estate combines renovated and new build property and offers both fractional and residential ownership
  • ABPM excited to be working with Terre Gialle Residence & Resort to promote their boutique Tuscan estate

With around 23 million visitors to the region last year, Tuscany remains one of the world’s top tourist destinations and is a region of undisputed natural beauty. Renowned for its enchanting countryside, reminiscent of the landscapes captured within Renaissance masterpieces, sweeping vineyards and olive groves, Tuscany continues to offer the essence of Italy that many dream of. This, combined with its rich artistic legacy and historic architecture, continues to attract visitors from across the globe to experience their very own taste of Tuscan life.

Set within Tuscany’s quintessential rolling hills, below the ancient hilltop town of Castel del Piano, Terre Gialle Residence & Resort is a picturesque estate covering almost 20 acres across some of the most pristine countryside the region has to offer.

This boutique residence and resort is surrounded by vast fields of olives and vines, an array of beautiful gardens and lush evergreen forests, with the town only a five minute drive away. With both full and fractional property ownership options available, Terre Gialle provides the perfect opportunity for each and every individual to indulge in the Tuscan lifestyle.

Simone Rossi, Director, Terre Gialle Residence & Resort, explains the enthusiasm surrounding the project,

“The region of Tuscany is often seen to epitomise the traditional Italian dream, with its mesmerising scenery and relaxed atmosphere it is the perfect setting for a home away from home. With our selection of properties available, we are excited to be able to deliver a choice to those wanting to find their very own place under the Tuscan sun. Both the residence and the resort, under the Terre Gialle brand, offer an experience that can allow everyone to immerse themselves in the year-round magic of Tuscany”.

The estate combines both renovated and new build property. Through fractional ownership, Terre Gialle Resort offers a range of modern 1 and 2 bedroom apartments and 3 bedroom villas. After a resplendent restoration, the historic Residence is comprised of studio, 1 and 2 bedroom apartments.

Exuding a unique, elegant atmosphere, Terre Gialle boasts a range of excellent facilities including a swimming pool with whirlpool, a well-kept park with nature trails and sports facilities, a tennis court and bowling green.

In order to further raise the profile of this magnificent Tuscan resort, Terre Gialle Residence & Resort has appointed leading international property PR agency, AB Property Marketing.

Charlotte Ashton, MD of AB Property Marketing, comments,

“The Terre Gialle estate is enriched with a two hundred year history and is continuously evolving to meet the market trends of the region, without losing the sense of its tradition. We at AB Property Marketing are delighted to be working with Terre Gialle Residence & Resort as they introduce their exciting new estate to the ever popular Tuscan market.”

Fractional ownership at Terre Gialle Resort starts from €28,000 (excluding maintenance cost) for a 4 week allowance per calendar year. The Terre Gialle Residence prices range from €93,500 to €176,000.

For more information about Terre Gialle Residence & Resort, visit www.terregialle.com, email info@terregialle.com or call 0203 637 2215.