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NEWS - Falling Euors and low low houses prices make it a great time to buy a home in Piedmont

Falling Euro and lowest house prices for years makes buying a home in Piedmont, Italy irresistible.

 

Falling Euro and lowest house prices for years makes buying a home in Piedmont, Italy irresistible.

February 2015
Richard Edwards
Well, it's highly unlikely. There is a vast difference between the tax systems. Italians already pay a lot of tax whereas Cyprus was always seen as a good place to move your business, to take advantage of the low taxes.

Falling Euro and lowest house prices for years makes buying a home in Piedmont, Italy irresistible.

There are several factors that are pushing the value of the Euro down and these are the hard facts. A property selling for €1.4m a month ago would have cost $1.59m or £1.16m. With the current exchange rate the same property now would set you back $1.25m or £1.03m. That’s a saving of approximately $330,000 or £129,000.

Economists are predicting it will fall even further but don’t wait to view! Find a property now and then wait, if you feel it’s worth the risk. Very few properties are coming onto the market as local people are being very shrewd and some non-Italians that live in countries that don’t have the Euro are taking their houses off the market until the Euro picks up value again. It means good houses are hard to find and what is on the market will sell quickly and you’ll miss the chance.

Here are a few properties that are selling for low prices:

Property 304
The owner is very keen to sell. The property can be bought for €500,000 including taxes, notary fees and commission. That’s only $441,000 (£370,000).

Property 300
This place is amazing.. and for less than the price of an apartment in a bad part of London! $1.25m (£1.03m).

Property 151
The owner is keen to sell so would probably consider offers around 4m Euros. That’s $3.6m (£2.9m).