Southern Italy 'becoming more popular'
2007-08-11 17:03:00
Property in southern Italy
is becoming increasingly popular
among international investors, with rising interest in a number of regions. UK-based buyers are showing interest in areas such as Calabria, Abruzzo and the Amalfi Coast, despite the fact that facilities in the south are generally not as good as those in the north.
Read more: Southern
Southern Italy 'growing in popularity'
2007-08-09 16:46:00
Areas of Southern
Italy
have been "gaining interest" among British people looking to buy holiday homes, RealPoint Property said today. Director Eddie Crompton said that regions such as Calabria, Abruzzo and the Amalfi Coast have grown increasingly popular, but the north of the country has superior infrastructure features such as "transport networks" for Britons who wish to travel home easily.
Investors buying into Italian lifestyle
2007-08-07 19:45:00
Foreign property investors in Italy are shifting their interest from the countryside to Italian
towns, according to a property expert. Rupert Fawcett, head of the Italian desk at Knight Frank, said that many investors are "cash-rich" but "time-poor" and so do not want to embark on the restoration of farm houses "that was once all the rage". Now they are being attracted to the ease, accessibility and security on offer in Italian towns, he said. Mr Fawcett explained that investors are buying into the Italian way of life when they purchase properties in the country.
Read more: Investors
, lifestyle
Lazio bargains: this is the real Italy
2007-08-05 16:45:00
HAVING Rome on your doorstep is prize enough, but what makes Lazio, the province that rings the capital, so enticing is its surprising beauty. Volcanic lakes and rolling farmland lie to the north near ancient Etruscan Viterbo; on the other side of the A1 highway to Florence sprawl the blissful Sabine hills. The Sabine melts into wilder stretches of olive-dappled hills towards Tivoli and then down again southwest of Rome, where the Roman plain stretches out towards Frascati, with its outstanding vistas, volcanic ridges and shimmering lakes.
Read more: Italy
Pirelli consortium wins contest for Italy's Fintecna real estate
2007-08-03 19:31:00
MILAN (Thomson Financial) - Pirelli
& C Real Estate SpA said its consortium has won the contest organised by Italy
's state-owned Fintecna Immobiliare to buy four major real estate assets in Rome. The deal will see the formation of a joint venture in which Fintecna Immobiliare will hold a 50 pct stake. Of the remaining share, Pirelli RE will have 35 pct, Italy's Fingen will own 35 pct and Gruppo Maire 30 pct.
Goldman Sachs set to beat Merrill in Italy property fund
2007-08-01 23:39:00
MILAN,(Reuters) - Goldman
Sachs
(GS.N: Quote, Profile, Research) is poised to win a war with Merrill
Lynch (MER.N: Quote, Profile, Research) for an Italian real estate fund after its higher offer, valuing the fund around 548 million euros ($750.9 million), won the favour of the fund's manager. Goldman's final offer for 95 percent of the Berenice fund (QFBER.MI: Quote, Profile, Research), or 570,000 units, stood at 913 euros per unit against Merrill's 827 euros.
Read more: Italy
, property
, Goldman Sachs
Simon Property Group Opens Shopping Center in Rome, Italy
2007-07-30 22:42:00
Simon Property Group
, Inc. announced today that the Porta di Roma shopping center in Rome, Italy
has been opened to the public. The center is the joint development of the Lamaro Group, a major Rome-based construction and development organization, and Gallerie Commerciali Italia ("GCI"), SPG's Italian joint venture partnership with Groupe Auchan. The project is located on the north side of Rome adjacent to the Grande Annulare, the peripheral highway which circles the city. The trade area for Porta di Roma contains approximately 1.3 million people.
Read more: Simon
, Shopping
, Center
Henderson to grow Italy unit, launch property fund
2007-07-28 17:52:00
LONDON, July 27 (Reuters) - British fund management group Henderson
Global Investors (HGI.L: Quote, Profile , Research) said on Friday it wanted to raise 250 million euros ($341.3 million) from institutional investors for a new closed-ended Italian retail property
fund. The Fondo Azzurro is the debut fund of Henderson's Italian unit, Henderson Global Investors SGR, which the company said was set to expand after getting clearance from the Bank of Italy
.
In Italy, a Church Turned Into a Vacation Home
2007-07-26 17:28:00
The Westport, Conn., couple transformed an idiosyncratic ruin of a church into a highly personalized, luxurious vacation home — remarkably without a hitch, at modest expense and without speaking the language. They encountered no bureaucratic or legal entanglements, no logistical issues, and no aesthetic compromises. The work began in November 1999 and was completed within a year, with the Mulias making only a handful of visits. “I have to say we didn’t have any bad experiences,” Mrs. Mulia said.
Read more: Italy
, Church
, Vacation
Italian property investment more accessible
2007-07-24 17:06:00
Mark Slaviero of Homes in Italy said with more budget airlines offering routes between the UK and Italy, as well as new airports opening in southern Italy, accessibility has improved vastly. Southern Italy in particular offers a number of investment
opportunities, according to Mr Slaviero, as it is still up and coming.
Read more: Italian
, property
Enpam, the Italian pension fund for doctors and dentists, has sold a 29-property portfolio for €305m.
2007-07-22 18:46:00
Pirelli Real Estate acquired the portfolio with holder Global Opportunities Fund II, a fund managed by Deutsche Bank subsidiary RREEF, which acquired 65%. After the deal’s closure in the autumn, assets will transfer to Pirelli’s Social & Public Initiatives fund.This portfolio largely comprises northern retail and office assets concentrated in the Lombardy and Tuscany regions and currently has an average 54% vacancy rate.
Read more: Italian
, property
Taormina Sicily, Italy
2007-07-20 19:01:00
If you are looking for somewhere which really is beautiful in Sicily and which has a beach and is lively, then Taormina is a place you should definitely consider buying real estate or property in.Situated on the east coast of Sicily and about 1 hours south of Catania airportthe large city of Catania and Catania International airport), Taormina is a small sits which ismaily based on top of a cliff face, hence the stunning views.
Read more: Italy
Italian real estate fund Berenice has been suspended from Milan trade pending
2007-07-18 20:49:00
MILAN (Thomson Financial) - Italian
real estate fund Berenice has been suspended
from Milan
trade pending an announcement, Italy's stock market operator Borsa Italiana SpA said. A media report this morning said Goldman Sachs (nyse: GS - news - people )-owned Zwinger Opco could announce an increase in its offer for Berenice in the coming hours after being outbid by Galante, a fund owned by Merrill Lynch (nyse: MER - news - people ).
Italian real estate: Goldman Sachs raised its offer for the property fund
2007-07-16 17:28:00
This is the first tender offer on a real estate fund in Italy," said Chiriotti. "Consider that before, real estate fund traded at discounts in the region of 25%-30%."
Read more: Italian
, Goldman
, Sachs
, property
, Goldman Sachs
Property Stays Hot Under the Tuscan Sun
2007-07-14 16:05:00
My parents bought the property to feed my mother's penchant for the romantic and remote. Having grown up in Switzerland, Tuscany was a perfect fit for her because "it makes you feel like you went back in time," she says.
Italian real estate fund Berenice has been suspended from Milan trade
2007-07-12 16:23:00
A media report this morning said Goldman Sachs (nyse: GS - news - people )-owned Zwinger Opco could announce an increase of its offer for Berenice in the coming hours after being outbid by Galante, a fund owned by Merrill Lynch (nyse: MER - news - people ).
Read more: Italian
, suspended
, Milan
Italy Property - Perfection in Potenza Picena
2007-07-10 16:56:00
“A beautiful six bedroom villa in Tuscany within say, half of a mile of the sea, would cost over 1million euros (around £690,000). A similar property on the Le Marche coast would cost just £303,000/euros 440,000. This of course is a considerable saving” says Linda Travella of Casa Travella, specialist in the sale of property in Italy
for 20 years.
Read more: Perfection
, Potenza
Tuscany with all the frills
2007-07-08 18:12:00
The range of accommodation options on the market are as varied as the homes themselves. Near Cortona, Borgo di Vagli has opened up its 10 modest hamlet homes as fractional holiday residences, with prices from £48,000 to £75,000. In Florence, the first palace, Palazzo Tornabuoni, opened this year as a private residence club, making its 36 restored palazzo apartments available to 288 members (eight shareholders per apartment), with membership fees ranging from £126,000 to £309,000. Next year four palatial private homes will be restored in the estate of Castello del Nero, for sale from £3.6m to £4.7m to single owners who will also have a share in the magnificent, 1,000-acre grounds, with a 12th-century, five-star hotel and spa at its centre.
Read more: Tuscany
Enpam, the Italian pension has sold a 29-property portfolio for €305m
2007-07-07 15:09:00
Pirelli Real Estate acquired the portfolio with holder Global Opportunities Fund II, a fund managed by Deutsche Bank subsidiary RREEF, which acquired 65%. After the deal’s closure in the autumn, assets will transfer to Pirelli’s Social & Public Initiatives fund.
Read more: Italian
, property
Pirelli Deutsche Bank fund acquire Italy real estate
2007-07-05 03:30:00
The 35:65 Pirelli
RE/Deutsche
fund joint venture won the contest to acquire the buildings from ENPAM, which is the national organisation for pensions and assistance for doctors and dentists, it said.
Read more: Italy
It's Lake Como
2007-07-02 16:51:00
The actor's 25-room mansion has been a savvy investment, the local La Provincia newspaper reported recently. "George got an amazing deal for his villa. If he considered selling now, he would get double, perhaps triple," the paper said, citing Villa Cassinella in nearby Lenno, which recently fetched €15million (£10.3million), or Villa delle Magnolie in Moltrasio, which sold for €12million, €3million above its asking price.
Italy Government Approves Four Year Economic Plan
2007-07-01 16:53:00
The plan, which serves as the outline for the 2008 budget, increases the 2007 budget deficit target to 2.5% of gross domestic product, from a March forecast of 2.3% of GDP.
Read more: Italy
, Government
, Economic
Real Estate in Italy and abroad 2007 report
2007-06-28 19:38:00
The real estate funds industry in Italy
has surpassed even the most optimistic forecasts. In five years the number of active funds has risen from 7 to 155 (end of 2006) and will come close to exceeding 200 by the end of the current year. Real estate assets have risen from 1.4 billion euro in 2001 to 30 billions forecast by the end of 2007. This is now the largest asset class of the Italian private sector, overtaking insurance (24 billion euro) and banks (8.5).
Read more: Estate
, report
, Real Estate
Italian real estate assets
2007-06-27 01:40:00
ITALY - Managers of two funds launched last week claim they can harness scarce Italian
real estate assets to generate well-above-average returns for pension fund investors.
campaign to oppose development plans in Lake Como
2007-06-24 18:24:00
George Clooney, the Hollywood actor, has joined a campaign to oppose development plans
near his villa in Lake Como.Clooney, whose spends around four months a year at his Italian villa, says the council development will ruin the peace of the small town of Laglio.
Pirelli gets final green light to develop Milan urban area
2007-08-15 17:40:00
Pirelli Real Estate SpA said its 50:50 Quadrifoglio Milan
o SpA joint venture has received the final authorization to restore and develop
the urban area in Milan previously owned by Manifattura Tabacchi, the historical headquarters of the State company that produced Italian cigarettes. Quadrifoglio, a joint venture with Fintecna Immobiliare, will begin demolition of the more than 83,000 square metres surface this September while reconstruction and construction of new areas will begin by the summer of 2008.
Read more: Pirelli
, light
Culture and very good health service results in Italian investment
2007-08-13 18:15:00
Director Mike Dunkerley said: "The overall culture is an attraction. It's a different lifestyle [to the UK], the weather is far nicer, there's quite a lot of exploring to do - a place like Italy is full of history, so you can wile away a good few years exploring. Mr Dunkerley added that there has been an increasing number of British people buying holiday homes in Italy as they wish to "get to know the area" before they eventually retire there.
Read more: results
, Italian
, investment
Property in Tuscany
2007-08-19 19:21:00
Covering 4,200 acres Castello di Casole is one the largest private estates in Italy. Situated 20 minutes north of Siena and 45 minutes from Florence it was originally home to the illustrious Bargaglli family, and later the film director Visconti. The estate is classic Tuscany
in every sense, as one realises driving along the tiny roads which meander around the estate through sunflower fields, vineyards and olive groves. The estate actually produces a respectable crop of olive oil, wine and sunflower oil, some of which is sold to local hotels and restaurants but most of which is kept for residents of the estate.
Italian property - Palazzo passion for sale
2007-08-17 16:46:00
A beautifully restored 17th-century palace that gives you more for your millions,The Ancajani family bought Tenaglie the same year, sold it in 1630 to settle debts and bought it back in 1664 – by which time the interim owner had built the palazzo. The estate stayed in the family until 1957, when a severe winter destroyed the olive harvest and drove the owners into bankruptcy. Palazzo
Ancajani was then bought by the president of Roma football club, who, according to Giachini, wanted “to bring the team here as a retreat from the temptations of the big city”. He also went bankrupt, however, and sold it to an entrepreneur from Viterbo, whose wife and children disliked it, so it was sold on to Giachini’s parents, Vittoriano, a retired general in the Italian
Air Force, and Gabriella, in 1986.
Read more: property
Spazio Investment to buy real estate asset from Ortensia for 31.5 mln eur
2007-08-23 16:17:00
Spazio Investment NV said it has submitted a binding offer to buy a real estate asset from Ortensia Srl for about 31.5 mln eur. The property, located in Melzo, about 20 kilometres east of Milan, is almost entirely leased to Sogemar Spa, Interpacking Logistic Spa and Interservices Srl. It is one of the largest freight terminals in the Milan area, with an estimated open market value of 33 mln eur at July 2007, Spazio Investment said in a statement.
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