Friday, November 14, 2008

Property in Sicily and the economy

It is a strange time for buying and selling property with the economy sluggish and the EU State officially now in recession. Many of you often ask me if it is a good or bad time to buy and sell in Sicily and it really depends on your personal situation.

Sicily and Italy as a whole are a bit different in that the Italian economy has been in downturn for 2-3 years now and thus the recession will have far less effect in Sicily and Italy, Sicily Propertythan it is likely to in countries such as Spain, Germany and the UK.

It also depends on why you are buying and selling. If you are selling for example you may get less money now than 2 years ago, but then rebuying you can buy cheaper. Also if you are selling in Italy and plan to be in a country such as the UK, the weakness of Pound Sterling actually makes you 20% better off than 1 year ago just in currency rates so it could be a great time to sell in Sicily to buy in the UK for example. You can see that it really depends on your personal situation.

You can view the latest Sicily property offerings online and the latest is a 4 bedroom apartment in Catania. Location is very central and close to the rocks near to sea-front area.

1 comments:

Italy property said...

Living in this region is definitely a beautiful experience, and buying a real estate in Sicily can be a good investment, since the tourist flow increase year after year.
The house requested have to be a double/three room flat, with terrace, garage, garden and air condition, better if nearby to seaside resorts. Source: gate-away.com