Got your attention, right? Thought so! Well, listen up. If you are keen on not only learning how to invest in a solid holiday rental in Italy but letting it generate a passive income so it pays for your holidays there, this is for you. A total win-win right?
Italian tourism is set for a major revival this summer, as industry experts say the country’s short and medium-term holiday rental market is experiencing a boom – mainly thanks to bookings from vaccinated Brits and Americans.
Even before the pandemic struck in 2020, the holiday rentals industry was booming with more than $39B spent worldwide with more and more people opting for a home-away-from-home type scenario as opposed to a hotel room.
Since the pandemic hit in 2020, the desire for a holiday rental over a hotel has only increased and with many being able to travel again, there has never been a better time to invest in a holiday rental that can not only generate you a passive income, but also allow it to pay for your holidays to Italy – this is what one would call a “no brainer.”
Strong USD to the Euro
Adding to this point, for the first time in 20 years, the dollar and euro are almost at parity. As the summer winds down, property bargains appear, and the strong dollar means that rental property demand remains high.
If you really are serious about making your Italian property dream reality, the time to act is right now!
If you would like to lock in some Euros at the highest rate, I strongly recommend that you liaise with a currency exchange organization rather than opting to use your local bank.
Currency exchange companies buy a higher bulk of currency and therefore can offer a better margin as opposed to your local bank. If you would like to learn more about this and lock in some USD-EUR, I recommend connecting with GC Partners as they offer the most competitive rate on the market.
You can learn more about GC Partners by visiting their website at https://www.gcpartners.co/ and book in an obligation-free call.
So, with the currency and the strong rental market on your side, now really IS the time to get the ball rolling with investing into a property in Italy.
But what should one look for when buying an investment property in a foreign country? Let’s dive into this.
Location, location, location!
Obviously, location plays a big part in having a successful holiday rental. It is very important that when you are looking to buy a property for holiday rental use, you put yourself in the shoes of your ideal guest. Is the property in the vicinity of:
- Public transport
- Tourist hotspots
Is the property located in an area that is easy to find? What are the surroundings like? Would YOU want to holiday there? If it does not appeal to you, then it is unlikely it will appeal to others.
Questions to tick off your checklist
Is there a decent WIFI/Internet connection in the area? Is it easy to collect groceries or is it too remote?
Remember that having a well-located property close to places of interest is super important especially if you want to continue to attract guests. There is nothing more frustrating than trying to find a property when you are arriving late at night from a trip, and you are continuously getting lost.
Make sure that the property is located in a safe area, especially if you choose a country property, and that the roads are in good condition and driveable. If you are buying a property in a remote area with hills, what is it like to drive in the wintertime, or when it rains heavily? Is it safe?
As they say, there is no second chance to make a good first impression. If you want to have a holiday rental that really takes people’s breath away, then having an attractive appearance is key. Does the property need any maintenance or modernization of the furniture? Does the property come furnished? That is a big question to ask the agent, otherwise you may assume that it is and then, upon completion, receive a completely empty property! Italians are famous for taking away entire kitchens. These are key factors amongst many others that I discuss in detail in my signature course, The Italy Property Vault.
Where to buy
One of the questions I get asked A LOT is where the best place to buy in Italy is right now. The answer is Puglia.
If you are someone who has been in my space for a long time, then you will know my unwavering passion for Puglia, however it is not totally biased as Puglia is THE #1 place to invest in real estate in Italy and, for the past two years, it has surpassed Tuscany as the number 1 spot.
Puglia is consistently growing in demand for not only holiday rental properties but people also seeking to make this stunning region their home full time. There are still some bargains to be had in Puglia but don’t sit on the fence too long as you will just see the prices going up and risk being priced out of the market. Now is the time to take action!
To be kept up to date on all the very best holiday rental properties for sale in Italy, I highly recommend checking out La Dolce Vita Lifestyle Magazine which is curated by myself with the best handpicked properties for sale in Italy, fully turn-key, ready to generate you that passive income, which will in turn fund your trips to Italy!