Scalea Italy Real Estate/Property is an incredibly Cheap Investment.

[@saveandinvestwithgiorgiolo8375]

Dear all please let me know if you like these type of videos where I show examples of great value for money property

[@axo137]

My family owned a summer home in Scalea (at the residence Il Gabbiano, check it out online -- we've sold the place for 15k €) and I've spent there 3-4 weeks every summer... Would definitely not recommend the place for people who are looking for a vibrant vacation. If all you want to do is bathing in the sea then maybe it's a great place for you, but otherwise nah. As usual: try visiting first, don't just blindly think of investing in these cheap properties. The biggest cons for me is mainly the lack of infrastructure: it lacks grocery stores, buses, clubs and even restaurants. You definitely need a car when staying here and you will need to drive several dozens of kilometers to the neigbhoring locations Pros: cheap, sunny, gorgeous and relatively close to the Pollino National Park.

[@peterlewis7228]

Sounds perfect.

[@Bolonsio]

I agree with you, I watched a video from there and I saw no movement of people, as if it were an abandoned town. It did have a tremendous beach and natural surroundings!

[@tanner293]

Scalea, Diamante and Praia a Mare are 20km from each other, so they have pretty much same temperature and accessibility. Many youtube channels are talking about the riviera dei Cedri because expats have just recently discovered this area, but going further south to places like Paola, Amantea, Cetraro, San Lucido are only 30km away and equally cheap and beautiful, same food same architecture, same sea, same landscape, just have not been discovered by expats yet. Not to mention the ionian coast side which has wider beaches and mountains right behind. You can go hiking in the mountain during the day and have pizza by the sea in the evening. Places like Rocca imperiale, Trebisacce, Sibari, Rossano have no expats and less tourists but they are located 2 to 3h away from Bari or Lamezia airport by car. Then there is the area of Soverato, Catanzaro lido, Caminia, Montepaone, also very beautiful, 30' away from Lamezia airport If you like something in the mountains u can find entire properties for 20k in the middle of pollino national park, but u need a car, no buses or trains, pure wilderness.

[@saveandinvestwithgiorgiolo8375]

Many thanks for your feedback tanezky

[@crazyj484]

This is amazing!! Thank you, please more videos of Italy

[@saveandinvestwithgiorgiolo8375]

Thank you CJ. Yes there will be more videos on Italian property

[@nicolomazzari6521]

Italian here... yes, the real estate market is very cheap but there's a reason for that: highly regulated, highly taxed, high costs for any kind of renovation (from both an administrative and labor point of view), slow process, justice takes too long to kick somebody out of your property (2-3 years). And this is true for all of Italy. In Calabria you also have to add other factors: there are basic infrastructures (road and airports), there is no interest from the government to invest in those far areas, there are constant shortages of water and electricity, but most importantly (if you buy a property for short stays toruism) to get there you either take a plane + rent a car or you go with your own car on for 12 hours drive, which is way too long for any tourist coming from the wealthier north of Italy. For this reason Italians go to Greece or Spain instead of staying in the south of Italy, it's less of an hassle.

[@saveandinvestwithgiorgiolo8375]

Nicolo' thank you for your feedback. What I would say is that yes these are good reasons as you state why property is cheap in Scalea nevertheless the population of Scalea increases from 10,000 to 100,000 in the summer so there is holiday demand. I do state in the video that you can buy Scalea for your own use and it may not necessarily be an amazing investment. Agree 100% Italy is pro tenant and this needs to change. One person I knew was not paid by the tenant for well over a year which is scandalous

[@tanner293]

I am sorry 12h drive from where? Milan? ok, not everybody is from Milan, u can fly to Naples and take high speed trains that bring u to Scalea in 2 hours. In Greece and Spain there are also water shortages. These countries have more of party holidays vibe, Calabria is more for relax, food and outdoor activities. In terms of services I agree, in Calabria roads are not well maintained, and cities are often not so clean, that's the reason why is also not exploited by mass tourism yet. You will have an authentic experience, not the Benidorm, Mallorca experience where Brits and Germans took over. About renting the place, if u don airbnb u don't have the problem of the tenants, but 2-3 years to kick them out is an extreme case, my family owes properties in Calabria, we had few cases of delay in paying rent, we always kicked out the tenants in 2 months with few letters from the lawyer. All Europe is pro tenants, Germany is way worse than Italy from that point of view.

[@SuperSavvyTravelersLLC]

I have to take issue with your statement on renovation costs ... having renovated three of my own properties in the area, with two more in process, in my opinion renovation costs are very reasonable IF you find the right team to work with to do the work. Over the last 12 years since we've been buying and renovating properties in Scalea and surrounding areas, we've developed great working relationships with some very skilled builders that do high quality work quickly, and for reasonable prices. We've not had an issue with high taxes (at least from a US/California standpoint!). With respect to accessibility, you can drive from Rome in 5 hrs., or take the Frecciarossa or Frecciargento high speed trains that can get you from Rome to Scalea in as little as 3 hrs.

[@r.com.9795]

​@@SuperSavvyTravelersLLC thanks Chris great to hear the authentic local "voice" amongst all the diverse opinioni! :))

[@TEENRAVE-n4f]

Thanks Georgio, and always a big fat like ;))

[@saveandinvestwithgiorgiolo8375]

Many thanks

[@arpadzsigmond2376]

Great work thanks! Cloud you make a video about Tenerife?

[@saveandinvestwithgiorgiolo8375]

Thank you Arpad. I will be making a video about Tenerife in the not too distant future

[@judit1783]

Could you mention if there is a lift or not and the address so I can use google maps to review neighborhood?? Perhaps a little checklist with this info for each property reviewed.

[@saveandinvestwithgiorgiolo8375]

Hi Judi T most apartments in Scalea do not have lifts.

[@rosanaamato1059]

Hello, I'm from Brasil, but I have italian citizenship and my dream is to live in Italy...and my research has arrived in Scalea, which has very inviting prices!!

[@saveandinvestwithgiorgiolo8375]

Hi rosana yes Scalea is very cheap at the moment. The cost of living in Calabria is also very inexpensive

[@anthonygalitsky8448]

interesting channel!

[@saveandinvestwithgiorgiolo8375]

Thank you Anthony

[@reginapolo3357]

I googled about some veterinarians and they have a couple but apparently no 24hr emergency clinics.

[@saveandinvestwithgiorgiolo8375]

Perhaps in a nearby town

[@rajujohn2561]

Hi Giorgio, Living now in Canada but want to get a property in Italy as a second home. Near the Ocean. Price range upto $2,00,000. Pls suggest the best places in your opinion. Was thinking about Piedmont but since not near ocean, not that appealing.

[@jaan-arya]

Hi, Is buying a property in Lake Como Italy a good Investment? And where is the best area for future growth. Thanks

[@tanner293]

Lake Como it's def one of the most expensive in Italy. the best area for future growth i'd say Apulia

[@paulkeenan2691]

A wealth of opportunity in Italian-heartful beautiful but thinking with one's head with brexit- covid-would regions like Noida- New Delhi and Ciaro represent a wiser rental- capital gain project.

[@saveandinvestwithgiorgiolo8375]

Hi Paul yes New Delhi and Cairo are better investment opportunities but perhaps a step too for somebody purchasing their first property abroad. Scalea is more for somebody who is looking for a lifestyle/holiday purchase by the sea in Italy without paying much money

[@donnovak]

HI Giorgio, I still have Paris on the Brain, but from what I've been reading lately it seems to be getting worse as far as Socialist intrusion and wildly bubblicious pricing is concerned. I love your videos BTW.

[@saveandinvestwithgiorgiolo8375]

Thanks again don novak for your kind words. I definitely do not recommend Paris. Prices are very high, yields low and very pro tenant. Not sure if you saw the video I made on Paris. The one thing it has on its side is the high population density.

[@pevprague6137]

What is the yearly price of such an apartment in case I will not be here for an entire year?

[@saveandinvestwithgiorgiolo8375]

It depends on the apartment size/floor/the actual condominium it is in etc however the costs in general of running an apartment in Scalea are low

[@judit1783]

Are there monthly/yearly "home owner association" or "condo" fees and how much are they?

[@saveandinvestwithgiorgiolo8375]

Yes Judi but they tend to be quite low. Condo fees tend to range from 15-25 Euros a month in Scalea. Fees will be far lower than the US

[@reginapolo3357]

Hi, Thank youfor the video. Can you tell me about veterinarian hospital or clinics? Thanks

[@saveandinvestwithgiorgiolo8375]

Thank you Regina. Unfortunately not my field but will look up

[@reginapolo3357]

@@saveandinvestwithgiorgiolo8375 Thank you for responding. My decision where to buy; hinges on access to good veterinarian care

[@saveandinvestwithgiorgiolo8375]

@@reginapolo3357 No problem at all

[@shawnhua6204]

I am a subscriber and I have enjoyed listening to you analyzing why certain real estate markets are over valued or under valued. But this video make you look like a real estate agent want to earn his commission. Yes the price does look cheap, is it cheap for a good reason? They usually are! is the town's unemployment rate 20%? What is the crime rate? What is neighboring town's price? Has it always been this cheap? Is there a nuclear power plant next to it? ...etc... You didn't mention any of these. If I see another video like this I will unsubscribe, sorry. .... 'It is so, so, sooo cheap..' hahahaha

[@saveandinvestwithgiorgiolo8375]

Hi shawn I am not an estate agent and I am not recommending Scalea as an investment. However there are many people on the channel looking for a lifestyle purchase especially in a country like Italy and are requesting this type of content. FYI Scalea has never been as cheap as now and has been affected heavily by loss of tourism due to the pandemic. In the summer the population goes from 10,000 to 100,000. I cannot stop people from unsubscribing even I hope they do not. What people can do is to watch some videos and skip others they are not interested in rather than unsubscribe

[@tanner293]

I am calabrian so I can comment to that. The crime rate is low, there is no petty crime, no fear of being mugged or pickpocketed, there is maybe organised crime (not specifically in Scalea I would say, more in other towns further down south), but that doesn't effect tourists at all. It's simply an economically depressed area, with little to no economy except domestic summer tourism, agricolture and basic services. Being out of the Italian mass tourism circuit has kept the prices down and the place undiscovered. There are no power plants next to it either and no plans to build new ones.