Sardinia Real Estate

08.12.2009 15:54
For some of Sardinia - a paradise on earth: three hundred days of sunshine, beautiful white sand beaches and crystal clear sea. Here are many exclusive resorts and, accordingly, the rich tourists. The island is literally littered with luxury hotels, villas and berths for yachts. It boils energetic nightlife, and a choice of restaurants is fantastic.
Historically, the Sardinians have been delighted with its location in the heart of the Mediterranean - they tried to settle away from the coast, avoiding the extra noise and attacks enemies. Currently, attacks do not stop, but they are different: here comes a lot of tourists are constantly seeking to join the unique culture of this island. However, the current inhabitants of Sardinia are not too against ...

About Sardinia

Sardinia is the second largest island in the Mediterranean after Sicily, an area of ??24,090 square meters. km. Sardinia is a part of Italy on the rights of autonomy. Its closest neighbors are Corsica, Sicily, mainland Italy, the Balearic Islands and Tunisia. Famous Sardinian coastline stretches almost 2 thousand km, the local beaches are considered to be one of the best in the world. "With this magnificent island beaches and acquired such an impressive popularity," - said Mrs. Luke, director of travel company Domus & Tour is headquartered in Cagliari, Sardinia's capital.

Of course, most tourists come here just for a beach holiday, but Tuscany has to offer and other entertainment. Travelers who want to make some variety in your holiday can do biking, horseback riding or stay at the campsite next to one of the Sardinian mountains, rivers or lakes.

In addition to the services sector, in Sardinia, not so many sources of income. The most significant contributions to the budget of the island go to the mining of granite. According Ciao Sardinia, web-based portal on the island of Sardinia supplies 75% of Italian granite. The sector employs about 260 companies developing more than 60 quarries. Besides Sardinia produces about 20 million kg tube, which is then exported all over the wine. The administration of the island is also trying to actively develop the IT-technology. Nevertheless, agriculture and animal husbandry remain the largest sectors of the economy of Sardinia.

Property in Sardinia

In the real estate market of Sardinia has its own peculiarities. To begin with, that construction on the island is limited. This means that the local market will never be a large number of proposals. "Building density of Sardinia is very low, which guarantees the high cost of local real estate in the future", - said Luke Frau, whose company helps investors to buy, sell and manage real estate on the island. Under normal circumstances, "the owners of property for recreation may be eligible for an annual rental income at a rate of 5-6% of the market value of their object." Typically, five or six years from the date of purchase, investors can sell their property with a substantial profit. In addition to everything the island has a reputation as an expensive market that attracts people to Sardinia, who are willing to "overspend".

Naturally, the global financial crisis has had on Sardinia, but a significant recession, the real estate market here has not happened. Nevertheless, according to the popular British newspaper the Daily Mail, in some parts of the island's price decreased by 10%. The market "is stable, no crash we do not have", according to Luke Frau. However, according to an expert, sell real estate in the middle price segment was "a little harder than usual."

According to Domus & Tour, property values ??in elite areas growing most rapidly. The most popular and therefore expensive beach resorts on the north-east of Sardinia is Costa Smeralda, Porto Cervo, Baia Sardinia, Porto Rotondo, Liscia di Vacca, Pevero and Pantodzhiya. In the southern part of the island popular with foreign investors to enjoy the city Villazimius, Chia and their surroundings.

Naturally, the price of local real estate depend on the location of the object, in this case is largely determined by proximity to the Mediterranean. In general, according to the Domus & Tour, a model object is not too far from the sea will cost the investor $ 350 thousand to $ 700 thousand villas with private gardens will cost buyers already in very different amounts, for example, on the Costa Smeralda, the cost starts at ten million dollars.

Buying property in Sardinia

Buyers from abroad are free to buy property in Italy. "For foreign buyers of real estate in Sardinia not impose any special requirements and no restrictions on the purchase of no, - said Luke Frau. - However, to get a loan from Italian banks to foreign buyers is very difficult. "

Buyers are advised to seek help from a qualified real estate agencies.

"Of course, you should not buy anything without the help of a competent professional who is able to check everything beforehand", - said Luke Frau. Realtor or attorney should be able to assess the market value of real estate and explore the authenticity of the documents giving the right of ownership, to make or revise a contract of sale and check out the other required documents.

Looking to the future

Sardinian property market has managed to survive the global financial crisis relatively unscathed. He has the kind of reputation needed to attract wealthy investors, and while the quality of the objects in the local market will remain the same high, buyers from abroad will continue to flock here from all corners of the earth. Perhaps in the next few years, the growth of market indicators will be fairly modest, as the global economy will still be restored. According to Luke Frau, next year the market will remain stable, then the prices start to rise.

Author: Yemisrach Kifle (NuWireInvestor)
Translation: Nicholas Strelnikov
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