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Abruzzo, Italy: Cheap Real Estate, Great Investment

Posted June 17, 2008

“Abruzzo’s population sought opportunities elsewhere after World War II, leaving many properties vacant. But now owners are selling these properties, which means dozens of small houses and apartments are currently on the market at prices below €30,000 ($45,000).” — Lief Simon

by Lief Simon

Baltimore – (TFN): Few places in the world offer real estate as cheap as what you’ll find in Italy… even if you’re buying with U.S. dollars. Right now you can buy a 60-square-meter house in the Abruzzo region for €10,000.

Of course, there is a catch… the house needs complete renovation. Still, spend €60,000 on renovating, and you’re into the deal for less than $110,000. Yes, for the same total spend, you’d be able to come up with several locations as cheap as Abruzzo… but likely none as attractive. You’re less than 45 minutes from the beach… and the same distance from the ski slopes.

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Abruzzo’s population sought opportunities elsewhere after World War II, leaving many properties vacant. But now owners are selling these properties, which means dozens of small houses and apartments are currently on the market at prices below €30,000 ($45,000). If you’ve got €50,000 ($75,000) to spend, your choice of properties goes into the hundreds.

The abundance of derelict housing is a real estate investment opportunity because this region is now coming onto the radar of more people looking for the next cheap place in Europe. The Abruzzo region sits on the Adriatic side of Italy, across the sea from Croatia. It has 22 ski resorts in its mountains, and Rome is a 90-minute drive away. Few locations in the world offer skiing in the morning and an ocean cruise in the afternoon. Plus, you have easy access to Rome and its airport…and there is a regional, international airport in Pescara (on the coast), which is already served by flights from England, Germany, and Spain. Read on to learn more.

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Posted by Lief Simon · Filed Under Real Estate 

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