L'Italo-Americano

THURSDAY, APRIL 7, 2022 www.italoamericano.org 12 L'Italo-Americano H ave you ever been on the b r i n k o f p u r c h a s i n g a property, but didn't for whatever rea- son and then, a few years later, the area where you wanted to buy shot up in v a l u e a n d y o u c o u l d j u s t kick yourself that you did not make the move at the time? I h a v e b e e n t h e r e o n MANY occasions. Hindsight is a thing, right? Well, part of the "fun" of m y j o b , w h i c h i s h e l p i n g overseas buyers confidently purchase property in Italy, is to study market trends. C a l l m e a g e e k , b u t I spend HOURS each week, trawling through the prop- erty portals looking for the best deals in Italy and most importantly the areas that are up and coming: I even created a magazine on just that, you can check out my bio for more info. I h a v e b e e n l i v i n g i n the Puglia region for many years and have been totally blown away by how the real estate market has been mov- ing and how it is consistent- ly growing. I regularly have one of those "hindsight" moments when I reflect upon moving t o M o n o p o l i i n 2 0 1 7 a n d being totally IN LOVE with the place...if you have never b e e n t o M o n o p o l i y o u must add it to your Italian bucket list for your next trip. A n y w a y , p r o p e r t y p r i c e s were super cheap. I'm talk- ing sea view independent houses, fully restored in the old town and right in the h e a r t o f t h e a c t i o n f o r €100k. You would be lucky to get s o m e t h i n g s i m i l a r t h e s e days for less than €200k: 4 years of growth and €100k later. Now, this is not some- t h i n g u n u s u a l i f y o u a r e thinking about real estate in your home town but Italy is not really a country that has property prices going up at record speed. This growth effect is not just happening in Monopoli but also other towns like; O s t u n i , C a r o v i g n o , P o l i g n a n o a M a r e , Locorotondo, Alberobello and Ceglie Messapica. S t r a n g e l y e n o u g h , m y town of Martina Franca has not had a huge increase in prices yet but it won't stay that way for long. If you are interested in a property that is not necessarily perched o n t h e s e a s i d e , M a r t i n a Franca could be an excellent option. It has a large popu- l a t i o n ( a p p r o x 5 0 , 0 0 0 i n h a b i t a n t s ) , s t u n n i n g B a r o q u e a r c h i t e c t u r e , a magnificent old town, and is habitable all year round. The pandemic has creat- ed an interesting knock-on effect on the real estate mar- ket in Italy. Property prices are increasing rapidly and properties that once used to sit on the market for months are being snapped up quick- l y b y o v e r s e a s b u y e r s , mostly Americans. B u t i n P u g l i a , c e r t a i n areas are yet to be discov- e r e d b u t f u t u r e p r o p e r t y buyers will need to be pre- pared to be in it for the long haul, not a buy and flip type scenario. If you are looking for a property bargain in Puglia, I highly recommend that you c h e c k o u t L o w e r Salento or "Basso Salento" as it's called in Italian. T h e c o a s t l i n e i s a l s o k n o w n a s t h e " I t a l i a n Maldives" and it's not hard to see why. Imagine crystal clear bright blue water, shal- low for miles, warm like a giant bath, and long sandy beaches. Sounds like absolute par- adise, right? Well, it is. I make the 60-minute trek d o w n t o t h a t s i d e o f t h e coast regularly during the summer months and I am always eagerly checking out the towns that are along the coast and nearby. This side of Puglia does g e t h a r d l y a n y f o r e i g n tourists in the summer sea- s o n , m a i n l y I t a l i a n s a n d some northern Europeans. The towns are very tired- looking, in complete need of a r e v a m p , a n d o u t o f t h e summer months, they are completely dead. However, what you will find are stunning properties in the old towns, that are full of character just waiting to be brought back to their former glory. Imagine townhouses with internal courtyards, large, v a u l t e d c e i l i n g s , o r i g i n a l tiles and roof-top terraces with multiple levels all for a song. And spacious! I am talking 200-300sqm here, not your simple two up two down type scenario. Or apartments with sea views by the beach for less t h a n € 1 0 0 k . O r s t u n n i n g m a s s e r i a s w i t h s e a v i e w s and olive groves waiting to be restored back to their for- mer glory. Incredible right? So where does one find these real estate bargains? If you love Baroque-style a r c h i t e c t u r e , t a k e a l o o k at Nardò, which is located in the province of Lecce. Nardò has approximately 32,000 inhabitants, has all- year-round living, and some absolutely stunning proper- ties for sale in the old town. I f o u n d a g o r g e o u s l i t t l e turnkey studio for my prop- e r t y m a g a z i n e f o r o n l y €44k! The beauty of Nardò is that you are only 6km away from the gorgeous seaside t o w n o f S a n t a M a r i a a l Bagno, which has the most beautiful beach and colored h o u s e s , p e r c h e d o n t h e shore. Going up a bit north, look at Porto Cesareo which h a s t h e m o s t s t u n n i n g turquoise warm waters and sandy beaches. F u r t h e r n o r t h t h e r e is San Pietro in Bevagna, which is a ten-minute drive f r o m t h e o l d t o w n o f Manduria, famous for the Primitivo red wine. If you want to go south, l o o k a t M a r i n a d e l Pescoluse: a simple Google image search will make you t h i n k y o u a r e l o o k i n g a t p h o t o s o f t h e C a r i b b e a n . Simply magnificent. S a n t a M a r i a d i Leuca is the town right at the very bottom tip of Puglia and has the most magnifi- c e n t b e a c h e s . T h e t o w n s nearby -- Patù, Morciano di Leuca, Gagliano del Capo -- are all very small, with less than 10,000 inhabitants, but with close proximity to the sea. If you follow the tip of Puglia to the other side you w i l l s e e C a s t r o , S a n t a Cesarea Terme and, further up, Otranto. It's important to bear in m i n d t h a t g o i n g h a n d i n h a n d w i t h l o w p r o p e r t y p r i c e s a l s o m e a n s l o w e r r e n t a l i n c o m e i f y o u a r e looking at this as a holiday rental investment. If you are p u r c h a s i n g a p r o p e r t y i n Italy with the viewpoint of relying on the rental income t o t o p u p y o u r e x i s t i n g income, I would not recom- m e n d b u y i n g i n L o w e r Salento. This is a long game investment and if you are prepared to wait it out and see the property prices grad- ually increase along with the foreign investor interest you will be onto a winner. So where does one find properties for sale in Italy? These are my go-to websites, where I do all research for my property magazine. www.idealista.it www.casa.it www.immobiliare.it www.gate-away.com If you fancy taking a look a t m y t o p p i c k s f r o m t h e property portals check out the Free Weekly Recap of La D o l c e V i t a L i f e s t y l e Magazine at: www.ladolcevi- talifestylemagazine.com Happy House Hunting! NIKKI TAYLOR Charming Monopoli, in Puglia (Photo: Freesurf69/Dreamstime) How to beat the Pugliese property market LIFE PEOPLE PLACES TRAVEL TRADITIONS

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