Investments in Italy

[Gina Russoniello Tiwari]

Hello, 

I am new to the Bigger Pockets forum and am looking to connect with folks who have experience investing in real estate in Italy. My husband and I are looking to make contacts in the region including with real estate brokers. I speak Italian and have a small number of personal contacts in the country, but this would be my first time evaluating a business opportunity there. Our current goal is to own rental properties, whether residential or vacation rentals (or both), that we can also use ourselves when we travel to the country. Areas of interest include Northern Italy (Milan, Torino, Bologna, Como, etc.) or coastal areas.

We would also love to learn the Do's and Don'ts from those of you with experience in the area (whether with residential, commercial, vacation rentals, syndications, etc.). Thank you!

Gina

[Gina Russoniello Tiwari]

@Jay Hinrichs - I've seen those too and done my research on them. Agree with you and Mike - they are a lovely way for southern Italy to attract vacationers to love and care for previously abandoned land, but that is about it. They are not worth the trouble for investors.

@Mike Lambert - Thanks for your thoughts. Having previously lived in both Milan and Calabria and worked in Milan, I'm familiar with the bureaucracy and political problems that exist in Italy, and in particular, in the south. You mention Rome, Venice, and Florence, which are nice vacation spots and I agree with you that an investment in a vacation property there could potentially be profitable. On the other hand, Milan, Bologna, and Torino are cities that are bustling with universities and/or hospitals. Milan, as the corporate center of Italy, also is home to most of the young professionals in Italy. As you know, neighborhoods with universities and hospitals are reliable sources of rental income. I understand that the real estate market in Italy is not the place to buy and sell for a profit. It is, however, a fine place to generate rental returns and returns from vacation property holdings.

Thanks again everyone for the attention to this post, introductions in the areas that we've discussed are welcome!

Gina