Good time to buy in Calabria?

T

traveler

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Does anyone have experiences, good or bad, about buying a property in Calabria? Have there been any scams in this region?
I have seen some nice properties and prices (on holprop.com). Are the prices ok/real in your opinion or just at the right market value? Are they from trustable providers?

thanks in advance.
 
I lived in Italy for a number of years and sadly I would advise you not to buy in that area. It is a stunningly beautiful part of Italy but the Cosa Nostra/Mafia are very strong there.
 
Thanks a lot for your answers.
I know of course about this problem. My question is does it affect normal people, tourists, foreigners so they will be reluctant to come in holiday in Calabria or if I buy a house/appartment will I have problems?
A second aspect of my question is about the experience with developers of real estate, if somebody had bad or good personal experience, and I mean with the builders, not with intermediaries, (especially those mentioned in holprop.com, choses, italy then region calabria) having projects in calabria.

thanks in advance for your answers.
 
Our company focused on Calabria for a number of years and there were and still are a number of issues you should be aware of. Yes, the area does have a strong Mafia presence, however this does not really interfere with tourists/outsiders, much the same as organized crime in every region throughout the world.

The biggest issue we found was that often "off-plan" properties, were either hugely delayed before their completion or worse still, did not materialise. Frustratingly, lawyers had done all the correct checks on licensing and the developers financial state of health and they always came up clear. Subsequently, developments were halted because of there proximity to the sea or some other excuse that really should have stopped the developers having their building licenses granted in the first place.

My advice would be to look at completed, established properties that have been in use as a residential dwelling for some time. Again, make sure there are no encumbrances on the property, financial or otherwise through a reputable lawyer.

My honest advice to you is stay away from off plan or near complete projects, for the reasons I have given above and also because of the economic conditions that we are currently experiencing globally. Developers finances are currently pretty precarious, putting you in a dangerous place should they go belly up.
 
Thanks a lot Lisalb,

I've understood that in italy there is a bank guarantee, in case the developer goes bankrupt? Is this not (always) working?
 
I would speak to a couple of independent lawyers and see if they have had any luck exercising bank guarantees. Don´t forget, the lawyer will charge you to do this, so I think many people who have already paid a hefty deposit will be reluctant to shell out more cash.

Also the guarantee covers you for bankruptcy, not issues with building permits and massive delays.
 
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