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“Once work, commitments and stress are a thing of the past, many foreigners find peace in the area of Marche in Italy, just as older Americans do in Florida,” says Monica Bruni, who runs an estate agency in Amandola in the province of Fermo. “Its not just the elderly, there are lots of young couples who have been doing up older houses, or buying homes in the Marche and Abruzzo, where the air is still good.”
” How many more people are investing in real estate in the country and town centres over the past ten years?” Cinzia Ficco, of Khiruna, asks her.
“It’s really grown. We started from scratch and now there are hardly any properties for sale in certain areas. Some old towns, which until a few years ago were almost entirely abandoned, have piqued the interest of young local couples and many foreigners. The same thing happened to the old country houses, mainly bought by foreigners (British, Americans, Israelis, Dutch, Belgian, Australian) and some Italians from the cities of Northern Italy.”
“Who is buying them?”
“The average age has changed, especially more recently. Now it’s retirement-age couples looking for a permanent residence. About five or six years ago they were younger. Ten years ago our customers were artists, rather eccentric characters. Now they are managers, executives, computer professionals, people who are interested not only in the quality of housing sites, but in the potential investment and income in the medium to long term. They mainly want a vacation home.
“Is there more of a market in the central regions of Italy than in the North or the South?”
”Central Italy does attract people because of its outstanding environment: the climate, the opportunity to visit other areas, the local customs, the cuisine, and its small airports. It’s easy to reach your holiday home and have family and friends visit you there. The countryside is magnificent. Mountains with beautiful natural parks and the sea, beautiful medieval villages, there’s so much history and many fascinating legends. It’s easy to integrate, there is a tradition of hospitality and the atmosphere is genuine. The tourism potential of these places hasn’t been fully realized yet. And it’s not a place that people attracted by glamour would want to come, which means that you can still find a range of local goods at affordable prices.”
“So, typically, do people buy to let or to live there themselves?”
”Both, I’d say. Both are a good investment. Foreigners buy a house, renovate it, put in a pool, and let it out to other foreigners by the week. They’re not like the Italians, in that they’re happy to rent their home to others, and it makes for a good income. Many choose to live in the Marche as they would choose Florida, often from Australia and South Africa. They may be elderly and want a peaceful retirement, but there are also young couples who want a life change.”
”What makes for the best investment, and what areas of Marche are the best?”
”Old, traditionally built properties in local stone or brick with wooden beams, either in the countryside or in the historic centers of towns. In town you should invest in those rare buildings that have at least a small outdoor space, a terrace or a garden. In the more sought after areas it’s difficult to find good deals. The classic building must be a certain size, have a decent living space, an outside area, beautiful views, a certain "character". The area at the foot of the Sibillini Mountains between the provinces of Ascoli Piceno, Fermo and Macerata is very popular. I refer to the "Golden Triangle", considered the heart of this area between the towns of Amandola, Sarnano, Monte San Martino, Sant'Angelo in Pontano, Penna San Giovanni and Gualdo.”
“Are there events that make it particularly profitable to invest in Marche?”
”Not special events. But there are many skiing facilities, tourism in general.”
”What service do you offer clients?”
”The listing of properties, targeted searches and support in customised searches, and assistance with practicalities and bureaucracy. If the customer is foreign, I help with things like the acquisition of a tax code, opening a bank account, translating contracts, changing utilities contracts, getting permission to stay in case of non-European citizens, and I give any advice that might be helpful.”
“How do people find you?”
”Via the website or a trade publication, maybe foreign TV shows, word of mouth. They send an e-mail or phone and then we visit to the sites they’ve chosen.”
”I read on your site there is a team of technicians who support the client. What do they do?”
”We offer free legal assistance at the notary, and also technical assistance on restoration. There are surveyors and companies specializing in the restoration of old buildings. Before buying you can request quotes for the additional costs, taxes, and fees. Our technicians can also give an idea of what a restoration would cost.”
“What do your clients want?”
Buildings with character, classical, typical of our rural residential architecture, or in the center of town, independent houses, with open spaces. Not buildings in abandoned villages or centers. The main thing is the notorious word "location". The view should not be interrupted by new buildings or the vicinity of industrial buildings, pylons, noisy roads or railways. The context is very important. Unspoilt mature trees, endless fields, the sweet succession of headlands are all good. Too many people want the scenery of the Sibillini Mountains. More rarely, people ask for a view of the sea.”
“How big?”
”Usually about 200/240 square meters. So not huge, but not too small to accommodate families and guests. Obviously, all facing south.”
“After purchase, what are the trends?”
”It depends on the property you buy, if it was purchased for residential purposes or vacationers. In any case, almost all have a great social life, they receive guests, learn Italian cooking and drinking and local traditions and spend a lot of time around the pool, even at temperatures that would be prohibitive for us. Reading, relaxing, visiting picturesque locations. Most people integrate into the local social life. Almost all those who buy the house with land, large or small, delight in having a small vegetable garden, and may cultivate olive groves and vineyards. Some need housing projects on the go, in this we Italians are very different. They resell the first project and acquire another in the same area, or they migrate elsewhere. The more mature after a few years of absolute independence often rejoin their families and sell the property.”
”Are there grants available for restoration projects?”
“You need to check with the local region to find out, because it changes each year. Sometimes there is funding for the restoration of characteristic property, for touristic activities, agritourism, B & B, Country Houses, rooms for rent etc. If the property is listed by the Superintendence for the architectural and environmental heritage, the direct intervention of the Ministry is guaranteed with access to loans.”
“How about the industrial districts nearby?”
”The shoe district represents a parallel universe to the agricultural residential. It has developed around Macerata in a band close to the coast and to major roads. This has prevented the penetration of industrial activities into the interior, and the so-called ‘disadvantaged’ areas have fortunately been preserved from urbanization. It has to be said that the small manufacturing industrial centers here are very different in size and impact those of our North. Many local residents commute an hour or less to work.”
”What about the production of shoes and famous wines?”
”Here it’s mainly famous brands and luxury products that are made for an urban clientele. There are outlets that attract women on vacation, but generally, people who buy houses in the area are not really interested in high fashion. There are guided tours of wineries, and there's another project called "adopt an olive tree", but it’s mainly aimed at citizens overseas.”
“Any tips?”
”We recommend buying at this particular time because prices are falling due to the recession - especially in English-speaking countries. Some British are selling at low prices. Often these houses have already been restored with taste, bought when the pound was worth a lot more than the lira. “
By Cinzia Ficco