2875 Hello And Shall I?

Hi,

I'm in my 30's and have already bought property in South Africa and Turkey for investment purposes.
I have found a studio in Castel di Ieri, Abruzzo, 35sqm, habitable, and for the all-inclusive price of 14,000 pounds.
The 'hamlet' has one restaurant and I think that's it.
I'd like to know what your thoughts might be on 'investing' in such a property.
Regards
Maria

Category
Introduce Yourself - Piacere Conoscerti

Submitted by Anonymous (not verified) on Mon, 03/06/2006 - 02:58

It's in the middle of nowhere.. with no amenities, it's small and has an all inclusive price of £14,000.00. Good investment?

Hmm..

:) :)

Submitted by Anonymous (not verified) on Mon, 03/06/2006 - 03:27

It all depends what exactly you want from the property. Are you looking to rent the place out? Are you looking for a peaceful retreat for yourself for long weekend breaks. I've found this link and it doesn't look too remote to me. I'd hate one of those houses up a mountain with only fields to look at so you have to decided what exactly do you want from the place. How near is the next town/village for shopping? How far is the nearest airport? Have you been to look over the area already. Only you can decide weather its a place you'd like to stay in and lets face it in today's standards £14,000 isn't a lot of money so for me I'd get myself over there and check it out, it could turn out to be a very nice little investment but dont forget about renovation costs too. What seems at the time to be a nice investment could turn out to be an expensive one. If you are serious, get some costs first... Good luck

[url]http://home.att.net/~t.deangelo/Castel1.htm[/url]

Submitted by Anonymous (not verified) on Mon, 03/06/2006 - 04:10

This is an ancient hilltop village not so far from L'Aquila.. pretty but cold, half of the houses will be 'unused' due to the youngsters leaving and seeking work elsewhere.. so mainly an older population.. will be interesting to see what Adriatica has to say about it.. if anything

:) :)

Submitted by Anonymous (not verified) on Mon, 03/06/2006 - 05:04

It seems very pretty and yes, I am aware that it will be like a ghost village. I'm wondering if there won't be a revival of these ancient communities eventually. Then again, I haven't done much research on Italy and the housing market. I guess I'm just a sucker for a real fireplace after living in Japan for so long.;)

My other concern is the cost of utilities in Italy. Were I not to use the place much intially[whilst I can envisage using it more extensively at a later date] what kind of bills could I expect for electricity and water[no gas]?
Also, is there a limit to elecricity usage in Italy?
I'm also a non-driver and would have to rely upon a bus[?] to get there.
The pull is the fact that it's so pretty and historical.
Thank you to all who have replied so far.
Regards
Maria

Submitted by Anonymous (not verified) on Mon, 03/06/2006 - 05:25

Bead..

What you do with your money is, of course, up to you.. but.. consider a few things first.

It's a ghost town.. as you call it. You don't drive.. this place is fairly bleak in Winter.. public transport will be limited. What would you like to do when in Italy apart from looking at the views from your window? How will you get around.. to and from the airport.. to the shops.. to another village.. to another restaurant or other form of entertainment?

I'm sure the population will be elderly.. most will have probably lived there all their lives.. a great sense of community.. but I strongly advise you to at least sit in the local bar.. if there is one.. and talk to the people who live there, before even thinking of going any further..

There is a reason this property is only £14,000.00.. Italians aren't daft.. they don't give property away for the hell of it.. and if you 'found' this property over the internet.. £14,000.00 may very well be too much for it anyway! Think a bit more.

:) :)

Submitted by Anonymous (not verified) on Mon, 03/06/2006 - 05:25

Found these three links many others on here somewhere, just need to use advance search. :)

All to do with electricity.

[URL="http://www.expatsinitaly.com/living/utilities.htm"][FONT=Times New Roman][SIZE=3][COLOR=#800080]http://www.expatsinitaly.com/living/utilities.htm[/COLOR][/SIZE][/FONT][/URL]
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[URL="http://italymag.co.uk/forums/showthread.php?p=18593&highlight=electricity#post18593"][FONT=Times New Roman][SIZE=3][COLOR=#800080]http://italymag.co.uk/forums/showthread.php?p=18593&highlight=electricity#post18593[/COLOR][/SIZE][/FONT][/URL]
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[URL="http://italymag.co.uk/forums/showthread.php?p=10789&highlight=electricity#post10789"][FONT=Times New Roman][SIZE=3][COLOR=#800080]http://italymag.co.uk/forums/showthread.php?p=10789&highlight=electricity#post10789[/COLOR][/SIZE][/FONT][/URL][SIZE=3][FONT=Times New Roman] [/FONT][/SIZE]

Submitted by Anonymous (not verified) on Mon, 03/06/2006 - 06:49

Although even hill top villages get a bus service - its usually only twice a day each way - so if you miss it - its a long walk.

Sometimes there are other reasons why a place is cheap - it maybe near a village but have a very tricky drive up to the house - very steep hills - narrow tracks - so if you meet a car you have to reverse back - with steep ravines on one side - - so your guests might be a little traumatised by the event - that said - there are some amazing places - hidden away - and the house may have you hooked-