Redundancy investment works for Italy property buyer

Thursday, May 28th, 2009
An Italy property investor has revealed how he gained from purchasing a house in the south of the country using money from his redundancy package.

Tony Manzi, a banker from Kent, invested €98,000 (£85,000) in a property in Metaponto, Basilicata, in 2004, Fly-to-let.co.uk reports.

His move was doubly successfully, both in terms of his capital gains and his rental income, with the property now worth €145,000.

In addition to this, Mr Manzi has been able to let out the home, commenting: "We often rent the property out, either to our family and friends who take it for several weeks at a time, or for holiday periods to the Italians."

This can bring in as much as €750 a week in high season, he added.

Linda Travella of Casa Travella told the portal that as the area is off the beaten track for investors it can offer some "excellent opportunities" for Italy property buyers.

Italy is among the countries that have seen an increase in interest from UK buyers as sterling has clawed back ground in the international currency markets against the euro.

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Devon couple invest in French property dream

Tuesday, May 26th, 2009
A couple from Devon have found that now is a timely occasion to follow their dreams of owning a French property.

Lorraine and Norman Tuck sold their home in the West Country two years ago and have waited until now to pick up a bargain across the channel, renting a UK property in the meantime, the Financial Times reports.

As a result, they have been able to acquire a home in western France for €100,000 (£88,000).

Speaking to the paper, Mrs Tuck explained how waiting until the right French property could be located has seen them secure the bargain, with a 15 per cent discount on the asking price.

This has helped offset the disadvantage of the fall in the value of sterling, she explained, stating: "The pound is better than it was, although still much worse than a couple of years ago, but the saving on the property cancels that out."

Sellers of French property have been offering new kinds of incentives, such as cookery and archery lessons, the Independent reported last week.

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Spanish property buyer talks of how to do well in recession

Wednesday, May 20th, 2009
A buyer of Spanish property in the last recession has revealed how he has benefited from the experience.

Speaking to the Daily Telegraph, an expat who bought a house in the Marina Alta area of the Costa Blanca in 1994 did so when the home had no garden or outside terraces.

Noting that these still needed to be added, the investor made the most of the fact that there was a recession by employing local labourers to carry out the work, who were glad for the employment opportunity.

He noted that this helped to form good friendships, adding that joining local clubs and societies and becoming familiar with local customs and culture are all helpful in making the move a successful one.

Investor portal spanishhotproperties.com recently reported that the market is offering a large number of cut-price deals on the Costa Blanca, with a 1,000 per cent rise in enquiries since February.

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Gascony recommended for France property buyers

Tuesday, May 12th, 2009
British buyers of French property have said the move to the Gers area of Gascony has been a very good one for them, both financially and in terms of their lifestyle.

Speaking to the Daily Mail, Jayne and John McNish noted a number of advantages to living in the area after moving from the Wye Valley four years ago.

"The move gave us an appreciably bigger home and enabled us to knock several hundred thousand pounds off the mortgage," Ms McNish commented.

She also noted that while the cost of the euro has had some impact, local produce is still affordable, while for Mr McNish, travelling on business to the US is easy via a short drive to the airport, with £110 train journeys from Bristol to London a thing of the past.

The paper noted that the region has similar scenery to the Malverns, while the ski slopes of the Pyrenees are only 80 minutes’ drive away.

France’s property market may be boosted by news that the Bank of France is predicting a smaller economic contraction in the second quarter than previously forecast.

It now believes the shrinkage will be 0.6 per cent, compared with the previous prediction of 0.8 per cent, Reuters reports.

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