We are planning to buy property in Scalea.
What do you recommend, freehold or leasehold property?
Many thanks in advance.



Edited 1 times. Last edit at 03/03/18 09:05PM.

Well, it depends on what do you want. If you want cheap property for about 30 years (I think its a max. term of leasehold in Italy), then leasehold is for you. If 30 years is not enough and you are hoping to live longer haha, then freehold is probably would be a better option. Pros of freehold — you don’t pay service charge/ground rent usually associated with owning a lease (usually is about 100 eur per month). Cons — way higher price. There are not much leasehold properties are on offer by the way, you’ll be lucky to find one.

Lisa wrote:

Well, it depends on what do you want. If you want cheap property for about 30 years (I think its a max. term of leasehold in Italy), then leasehold is for you. If 30 years is not enough and you are
hoping to live longer haha, then freehold is probably would be a better option. Pros of freehold — you don’t pay service charge/ground rent usually associated with owning a lease (usually is about 100
eur per month). Cons — way higher price. There are not much leasehold properties are on offer by the way, you’ll be lucky to find one.

Thank you for the advice!
I’ve checked prices online, and leasehold sounds very attractive and profitable for making money from renting it out.
I will buy few leasehold apartments, instead of buying only one freehold flat.

i also looking at leasehold option for an apartment in marcellina. should be visiting end of april or beginning of may



Edited 1 times. Last edit at 04/09/18 01:00PM.

den wrote:

Lisa wrote:

Well, it depends on what do you want. If you want cheap property for about 30 years (I think its a max. term of leasehold in Italy), then leasehold is for you. If 30 years is not enough
and you are
hoping to live longer haha, then freehold is probably would be a better option. Pros of freehold — you don’t pay service charge/ground rent usually associated with owning a lease (usually is about
100
eur per month). Cons — way higher price. There are not much leasehold properties are on offer by the way, you’ll be lucky to find one.

Thank you for the advice!
I’ve checked prices
online, and leasehold sounds very attractive and profitable for making money from renting it out.
I will buy few leasehold apartments, instead of buying only one freehold flat.

I totally agree, from rental point of view leasehold is way more profitable.
But also, when buying leasehold you can get much bigger and better property only for fraction of the price of the freehold so it well worth considering.

I would suggest go for a leasehold as it’s way less expensive and less of a gamble. Plus, process of buying is way quicker.

What happens if you want to sell? Is it the same as selling a house in the u.k? And how much do you have to pay when the lease is up? ( generally )

Sheppertonni wrote:

What happens if you want to sell? Is it the same as selling a house in the u.k? And how much do you have to pay when the lease is up? ( generally )

If you want to sell, please contact us, it’s very simple and fast process.

To extend lease will cost you around half of your original price.