Three different
Real Estate investors, three different assets, same story: good
business idea idea, in-depth investment analysis, appropriate project
but poor management and poor result. Investing in Real Estate in
Italy to enjoy the Italian lifestyle is not difficult, but requires
strong operational and financial control. Cesare Carbonchi from
Milano reports.
A tremendous
potential for real estate investments in Italy
Almost everybody in
the world would love to spend some time in Italy to be part of the
Italian lifestyle. It's not just a matter of food and wine, landscape
or arts, it's a different way to spend and live our time. In Italy
you may be part of the beauties rather than just look at them. As
real estate prices have decreased for the financial crisis, more and
more international investors are therefore considering acquiring a
real estate in Italy.
The Market:
increasing demand from non-ECC visitors
While English,
French and German visitors and investors already perfectly know
Italy, visitors and investors from non-ECC countries were limited
until few years ago. What is happening today and will reasonably
increase in the future is the massive incoming from countries as
Russia and Asia. Should international travellers, visitors and
investors from these countries love the Italian lifestyle as much as
English and French people already do, there would be no available
place for living in such a small place as Italy is. What would happen
to Real Estate prices is easily predictable.
What is
attractive and will increase in value
If You are an
investor capable to manage a hundreds millions project just focus
were everybody should go at least once in his life: Venice, Rome and
Tuscany. If You either are not that wealthy or You want something
less obvious, then there are a lot of locations that look perfect to
both enjoy the Italian lifestyle and ... make money. Let's come now
to the financial issues.
What generally
does not work
While buying a
ready-to-stay apartment or villa is not that difficult, when we talk
about real money and large Real Estate investments and / or large RE
development projects that's a different story. In my experience
international investors are tremendous professional in the planning
and acquisition phases as they are terribly poor when coming to the
execution and control of the venture in Italy. In all the three cases
I have mentioned in the beginning of this article I had to solve
problems on behalf of international investors in RE developments that
did not go as planned. This might happen anywhere but I would believe
that a better control during all phases of the execution might have
brought to a better result.
What we can do
for International investors
We
would love to say that we are able to deliver successful investments
but this is not true. We solve the problems that we could not avoid
and we do this immediately. And this makes the difference most of the
times.