This is the question I'm most asked. For anyone thinking of buying here in Italy, it has to be the most important question.
Prices have hardly changed but demand for real estate is very high. The areas of Langhe and Monferrato are the most in-demand areas for country homes in the whole of Italy.
I'm going to talk about buying a home in Piedmont, Italy and nowhere else. My expertise and experience are here, in the Langhe, Monferrato and Roero areas of the Piedmont region.
We had three months of lockdown and this, from a business standpoint, was exciting as just before we'd seen the biggest increase in interest we'd seen for years. At least 20% up. Even during lockdown we were taking calls on Zoom and even negotiating sales, but we had to wait. Then we were all free to roam again and it's safe to say I haven't had a day off since.
Something strange happened, a whole new market opened up. Italians started buying! Now you might think that's an odd thing to say but it's true, in general, Italians don't buy in the Langhe and Monferrato but these two areas of Piedmont saw the biggest increase in the whole of Italy. One agent was telling me that for a house he'd had on his books a while he had 30 viewings in one week! It sold of course. And everything is selling. As long as the price isn't too silly it will sell.
So, why did so many Italians start buying? Imagine living in your 100 sqm €800k apartment with no garden and not being able to go out for 3 months?! Add to that your bank is demanding interest on your savings but you can have a farmhouse with a swimming pool and 20,000 sqm of land for €500k! People love cities for all their conveniences but this pandemic has shown us there are some serious disadvantages and much better places to invest your money. Might as well enjoy it.
That was the Italians, what about the 'foreign' buyers, people like us? Again, an increase in enquiries and viewings we haven't seen the like of in 10 years. The area is exploding.
Have house prices gone up in Piedmont?
No, they haven't. Maybe they've softened a little. Demand is high but there are owners that want to sell, for all different reason. I can only describe it as a bomb going off and people are running in all different directions, wanting to be anywhere else other than where they are. It's just movement of people.
Are there plenty of houses on the market?
Yes, and no. It's hard to find good houses, the type of houses I know you want. What local people want can be very different from what us foreigners want.
What can I advice you?
Move quickly, prices can only go up. I think the best thing that can happen to the market now is a second lockdown. It will create even more demand. Even if it's a partial lockdown more buyers will want to be in Italy. Good houses are getting thin on the ground and you need the best advice, so get in touch.
How can you move forward?
Call us! Let's chat or we can even do a live viewing via Zoom. I'm modelling my office to start video broadcasts and I have new gear to make the virtual visit as good and as informative as possible.
"Move quickly, prices can only go up. I think the best thing that can happen to the market now is a second lockdown.”
Here are some houses will sell very quickly:
Nestled in the Piedmont countryside with no neighbours overlooking, this home is the perfect country retreat. It was completely restored 10 years ago and has what everyone wanting to escape city life is looking for.
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This wonderful country home was restored in 2016 to a very high standard. It's currently divided for 2 families but can be easily adjusted to make one large home.
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