If you have not seen my recent interview with Dr. Ivan De Luca on Youtube, please drop everything and go watch the whole thing. In this video Dr. De Luca gives us so much intensely useful information with regard to the property market in Calabria in general and our Riviera Dei Cedri in particular.
In a nutshell, the Calabria property market has tanked as an unfortunate result of COVID and Brexit. Calabria is suffering from a recession as is much of Europe and this has forced people to sell their vacation homes in order to bring in money.
This is a sad scenario however the good news is that there is something we can do to help them out of it. In short there has never been a better time to invest in a property (or two) in Italy and especially Calabria.
This question has so many answers, the food, the spectacular scenery, the lifestyle, the people, but a huge reason to purchase now is the prices.
Calabria has some of the most dramatic and spectacular beaches in the world. It has a deep, rich culture, it has the religious and food festivals. It has the laid back lifestyle and you can get a property for almost literally peanuts.
When Pete and I were looking for our house in 2010, properties in Santa Domenica Talao, our village were more than twice what they are now. In Scalea, Dr. Ivan has seen a drop in the average 2 bed, one bath apartment in Scalea from about 50,000 Euros to 40,000 Euros with many, many properties available for less than 30,000 Euros and even in the less than 20,000 Euro range.
The Riviera Dei Cedri
The area in Calabria between Tortora up in the north, to Paola in the more southern part of Calabria is the prime tourist destination called the Riviera Dei Cedri. A cedro is a citrus fruit (Citron) and the region is famous for them.
In addition to the fabulous food products grown here, Our Riviera Dei Cedri has some of the most beautiful beaches in all of Europe or even, the world.
Tourists from all over Europe and other parts of Italy flock to Calabria in the Summer and in August, when Italy closes down for vacation, every corner is filled.
Even during COVID, apartments, hotels and BNB’s were filled to capacity in August and, according to Dr. De Luca, the season extended from June all the way through October as tourists fled to the beaches before the next expected lock down.
So in a nutshell, if you have ever wanted to purchase a vacation home in Italy or to retire there, now is the time.
Everything, EVERYTHING You Need To Know About Buying Property (For As Little As 1 Euro) And Moving To Italy; Avoid The Pitfalls That Could Cost You Your Dream!
Congratulations on your plan to purchase property in Italy. The rise in popularity of the 1 Euro Italian houses has enticed many people to start looking at making the dream of owning property and possibly living in Italy a reality.
BUT There are so many possible pitfalls!
You are dealing with a completely different property purchase process, a completely different building and renovation model, you don’t know the language and worse yet, you don’t know what questions to ask your attorney and tax specialist. And having them educate you can be hugely expensive.
As you may know, I have literally done YEARS worth of research on purchasing properties not only in Italy, but also in Spain, Greece and other European countries. With my husband, I have successfully bought and renovated several properties in Southern Italy.
In my experience as a real estate expert, here are just a few mistakes I have heard, read about or experienced myself in various different countries:
*When we were first looking at properties, we were approached with an offer to purchase a property for 120,000 Euros. 10 years later that property NEVER got built. Had we paid, we would be out 120,000 Euros. (POSSIBLE LOSS 120,000 Euros)
*A person recently came to me with an offer to purchase an apartment for 10,000 Euros. The contract turned out to be a rental contract that guaranteed the BUYER ongoing fees! She would not have owned the property at all! (POSSIBLE LOSS 10,000 + 1400 Euros per year + other possible fees as yet undetermined!)
*A property “renovated” by a friend of the agent that was completely messed up. That property is STILL on the market 10 years later for almost half of what the buyer paid to renovate it. (POSSIBLE LOSS 100,000 Euros)
*A property in Spain where the buyer purchased and moved in, only to find that the builder had not gotten the required permits and the place was torn down. Of course, the builder was long gone. (ACTUAL LOSS 325,000 Euros)
Obviously this is only a partial list of the pitfalls I have seen. And without someone who knows and has been through the process to guide you through it, you could make some very expensive and heartbreaking mistakes.
Since purchasing our house in Italy has been such a life changing event, we want to be able to share our knowledge so that you can avoid the pitfalls and obtain your dream.
For that reason Pete and I have gotten down to some intense research and answered every question we could possibly think of. Then when we were almost done we asked for YOUR questions so we could be sure we addressed EVERYTHING you needed to know.
We also had to pull in all of our experts from the legal, real estate, and economic fields so that we could be sure of giving you the correct data.
This online course is designed to be light but also packed with vital information. The Ebook can be printed out and tabbed, highlighted and notated so that you know EXACTLY what to ask you legal and tax specialist so you save time and money getting EXACTLY the advice you need from them.
And since our passion is to help others find their dreams, we purposely priced this offer at LESS THAN YOU WOULD PAY FOR HALF AN HOUR WITH YOUR ATTORNEY.
Attorneys and tax professionals are vitally important but they can be expensive if you don’t know what questions to ask them.
We knew you would love this course but that you also would want to know how to book your perfect BNB for your property viewing trips.
Staying in a hotel is not an option because you won’t get a feel for what it is like to live in a town or village unless you LIVE there even for a short time. So we created “Your Guide To Finding The Perfect BNB For Your Property Viewing Trips” Ebook. This little gem helps you create your viewing trip experience so that it matches as closely as possibly your actual living experience so you can make the best choices possible.
This Ebook is a FREE GIVEAWAY that comes with your course.
AND since we know that finding your perfect property takes time and that you may spend way too much time filtering through properties that will not work for you on real estate websites, we created your “Find My Property Dream Checklist” Which ALSO COMES FREE with your course!
With all this area information we feel that we will send you out into the world of Italian real estate armed and ready for anything!
And all for less than half an hour with your attorney!
And write us with any questions you might have! And subscribe to our Super Savvy Travelers Youtube channel because we will be continuing to post super valuable content for those looking for properties or who just love Italy!
I have been in Santa Domenica Talao all week and if you have been following me on Facebook and Youtube, you know I have been up to some really fun and cool things and I am designating a portion of this blog “Ruin Flippers”.
To start off with, I have been working with our village architect and contractor on renovations for the house my husband and I purchased in 2011.
When we bought our place here in Santa Domenica, it was a good sized apartment but we needed more bedrooms. So we purchased the ruin that is attached to our place with the idea that one day we would fix it up.
Initially we were thinking of making the ruin into a separate apartment but then we decided that it would be much more practical if we opened up the wall between our living room and the ruin and expanded our current living space.
This gives us an open plan living area and a new kitchen while freeing up the existing kitchen to be a good sized bedroom. Ultimately we will have two more bedrooms, another bathroom and another balcony with sweeping views of the sea.
Soooo I met with Antonello the architect and one thing led to another. In the end we are getting a roof terrace as well and another storage and laundry room up top.
For a better picture of how this will roll out, please see my Youtube video as I walk you through the house and explain the changes.
Knowing that we are renovating our house, Antonello, the village architect and incredibly smart historian insisted that I see the inside of the massive ruined palace that sits at the top of the village overlooking what used to be the original piazza.
Our village is actually upside down from what it used to be. The old piazza used to be at the top back of the village and overlooked the mountains. The newer one is in the front and overlooks the Mediterranean.
In its heyday, the ruined palace overlooked the piazza and the little alleyway that ran down from the upper piazza to the church. The alleyway was filled with shops and stalls all the way down and as you walk down from the top today following it, you can see how it might have looked.
The front door of this ruin is actually located on the opposite side from the road leading up to it and half way down a little alleyway.
The palace is a block long, multiple levels and God knows how many square meters.
Antonello took us in through the locked door that opened onto a small courtyard. On your right were the old stables (The stables were placed under the residences so that the body heat from the animals rose and helped keep the upper floors warm in Winter. One can imagine that the smell also rose with it which gives you a slightly unwelcome glimpse into what life there might have been like back then)
Going up the from steps, the front door opened into a large entryway with a huge hallway/living space beyond it. And as you walk in, you step back in time to the late 1890’s when this palace was in its original grandeur.
For now, the beautiful terrazzo floors are covered with dust. The original furniture remains along with the teapots and dishes.
A sofa that was new in the 1950;s looks oddly out of place next to the walls that have been standing since the medieval period.
As you walk through the grand hall to the front of the house, you enter a huge drawing room big enough to be a ball room.
In front are two large balconies overlooking what used to the the main piazza and the center point of the village.
The walls are covered with bright red wallpaper which, upon close inspection of the newspaper backing it, reveals a date of 1960’s when the wall paper was added to dress up the space.
The floors however were the most beautiful part of this huge room. Again covered with decades of dust, the tile floor is a complex pattern of painted tiled put together to look like a fine carpet.
Although the floor is covered with dust, you can look at the walls, the furniture left in the other rooms, the chandelier that has been promised to the church in the new piazza, and see exactly what this room once looked like. It was grand and beautiful.
As Antonello took us on a walking tour through the house he pointed out pictures on the wall.
One picture was a daughter of the owner. Antonello told us her sad history and her photo shows a sadness that is frozen in time here on a wall in the corner of the hallway.
As we made our way through, more photos were revealed, again frozen in time and miraculously still attached to the walls waiting for someone to collect them.
According to Antonello, the owners of the house want to sell it and sell it for cheap. (Updated note: when I wrote this the building was for sale, now it is free with the caveat that the buyers renovate an apartment in the building for the current owners. The building willl be subdivided accordingly but the house is so massive, there is PLENTY of room left over for a giant house or several apartments.) The owners understand the amount of work it would take to repair and restore this beauty and it is a labor of love that Antonello showed it to me in the hopes that I might help him find the perfect someone who wants to restore a beautiful place in the a perfect little hill town in Santa Domenica Talao, Italy and live there.
This place would make a stunningly beautiful home for someone who wants to live in a place where life is piano, piano, love and community are still important and where food, art, architecture and beauty reign supreme.
If you are that special person, please contact me. The asking price is peanuts and I know the local builder and Antonello would love to set their considerable talents to work redesigning the spaces so that they work for a modern lifestyle.
In the end you could own a palace that takes up an entire block at the top of a stunningly beautiful village in Calabria for less than you would pay for a crappy condo in San Jose, California.
And if you want to join the ranks of Ruin Flippers, you could live here in Santa Domenica Talao, in the most beautiful village in the world.
For detailed video descriptions of the village and our project click here and here.
If you are interested in purchasing any property (And there are many) I am offering a consulting package. Pete and I will personally set up your accommodations, take you on tours of the local villages, hill towns and seaside towns and will set you up with the builders, agents and architects so that you can get all of your questions answered. We will personally show you around and arrange everything. Most of the amazing properties I have seen recently in our village are not on the Italian multiple listing service so you will only see them here.
In addition our architect, Antonello has selected 50 properties (so far) that he is preparing to offer. Pete and I are going to be creating video tours and Antonello will create floor plans, recommended renovations and estimates as to the cost of renovations if desired.
If ruins do not appeal to you, there are renovated properties available that are so cheap you could almost put them on a credit card. .
They are very affordable and have magnificent views of mountains or the sea. It is a buyer’a market right now so a great time to buy.
For advice on moving to Italy, please check out my interview with Bonnie Gale Oliver. She gives you a glimpse of life in the village and valuable advice on how to make the move.
Pete and I have also created an online video course and Ebook that gives you everything you need to know about purchasing a property in Italy and/or moving there. You can see the details here:
And stay tuned for detailed pictures and videos of our own renovation projects. We are renovating our house and have purchased a property that would make fabulous BNB. We are ironing out the renovation details right now but we will soon be in full swing.
See you there!
PS for more photos and reasons to chuck your life and move to Italy, check out my blog post on why Calabria is such a great retirement destination.