Investment Property in Genoa

Invest in Real Estate in Genoa

Investment Property in Genoa
Investment Property in Genoa

Genoa property investment can be a worthwhile venture if you are selective with the areas you choose to invest in. If not, you could find that your investment suffers due to low rental yields, dwindling demand, and slow property price growth in many parts of Genoa .

Search Map of Genoa Investment Real Estate

Genoa ( JEN-oh-ə; Italian: Genova [ˈdʒɛːnova] (listen); Ligurian: Zêna [ˈzeːna]) is the capital of the Italian region of Liguria and the sixth-largest city in Italy. In 2015, 594,733 people lived within the city’s administrative limits. As of the 2011 Italian census, the Province of Genoa, which in 2015 became the Metropolitan City of Genoa, had 855,834 resident persons. Over 1.5 million people live in the wider metropolitan area stretching along the Italian Riviera.

On the Gulf of Genoa in the Ligurian Sea, Genoa has historically been one of the most important ports on the Mediterranean: it is currently the busiest in Italy and in the Mediterranean Sea and twelfth-busiest in the European Union.

Genoa was the capital of one of the most powerful maritime republics for over seven centuries, from the 11th century to 1797. Particularly from the 12th century to the 15th century, the city played a leading role in the commercial trade in Europe, becoming one of the largest naval powers of the continent and considered among the wealthiest cities in the world. It was also nicknamed la Superba (“the proud one”) by Petrarch due to its glories on the seas and impressive landmarks. The city has hosted massive shipyards and steelworks since the 19th century, and its solid financial sector dates back to the Middle Ages. The Bank of Saint George, founded in 1407, is the oldest known state deposit bank in the world and has played an important role in the city’s prosperity since the middle of the 15th century.

The historical centre, also known as old town, of Genoa is one of the largest and most-densely populated in Europe. Part of it was also inscribed on the World Heritage List (UNESCO) in 2006 as Genoa: Le Strade Nuove and the system of the Palazzi dei Rolli. Genoa’s historical city centre is also known for its narrow lanes and streets that the locals call “caruggi”. Genoa is also home to the University of Genoa, which has a history going back to the 15th century, when it was known as Genuense Athenaeum. The city’s rich cultural history in art, music and cuisine allowed it to become the 2004 European Capital of Culture. It is the birthplace of Guglielmo Embriaco, Christopher Columbus, Andrea Doria, Niccolò Paganini, Giuseppe Mazzini, Renzo Piano and Grimaldo Canella, founder of the House of Grimaldi, among others.

Genoa, which forms the southern corner of the Milan-Turin-Genoa industrial triangle of Northwest Italy, is one of the country’s major economic centers. A number of leading Italian companies are based in the city, including Fincantieri, Selex ES, Ansaldo Energia, Ansaldo STS, Edoardo Raffinerie Garrone, Piaggio Aerospace, Mediterranean Shipping Company and Costa Cruises.

The financial stability of Genoa has translated into a real estate market that rewards forward planning and a willingness to look beyond areas of traditional affluence.

 

Buy to Rent in Genoa

 

Renting out your Genoa buy-to-rent investment property can grow wealth and income.

 

Whatever your goals with investment property in Genoa are – preparation is key.

 

  • Set goals based on how much rental yield will be required and the local rental yield rates in Genoa and be prepared to change your initial outlook.
  • Thoroughly research the Genoa location with a special emphasis on fringe areas outside the main Genoa metropolis that may be valued lower than their better-known neighbors. Rental yields of around 5% are still attainable in certain areas of Genoa.
  • Ensure that your target investment property in Genoa appeals to professionals. This is a demographic that ensures maximum income and low voids.
  • Finding and vetting suitable tenants is a job ideally left to the professionals. Working with an established letting agent with local knowledge and experience of property legislation will give you the best chance of success.

 

With our expert guidance, investing in Genoa provides the secure knowledge that your money is working harder than it would in a local Genoa bank and that future generations of your family will be left with substantial capital growth assets.

 

We are always happy to advise on buying investment property in Genoa, where we have been established for over 35+ years. Physis Realty has been a firm fixture in the Genoa property market through good times and bad. Our experts have seen it all and our portfolios continue to outperform.

Flipping Investment Property in Genoa

Flipping property in Genoa

 

Flipping property is when we advise clients to buy a Genoa property below market value, renovate it and then make a profit by selling it at a higher price, all within a few months, and often before the Genoa market has a time to react to the renovation.

 

The Flipping Strategy in Genoa

 

Investment property flipping in Genoa is a simple strategy. You find a property that is in need of renovation from our list and purchase it for a low price. These type of Genoa real estate investments are sometimes referred to by professionals as ‘distressed’ Genoa real estate.

 

What is distressed Genoa property:

 

  • Genoa property in need of renovation
  • Genoa real estate with a change of purpose and use
  • Oversold Genoa property
  • Bank repossessions in Genoa

Put simply, long term investors in Genoa purchase the property, renovate it and make it a lot more attractive to potential buyers.

 

Calculate profit that you make from Genoa investment property flipping:

 

Final Selling Price less Cost of Purchase less Costs = Profit

Here is an example:

Genoa property purchase price: $220,000

Renovation costs: $20,000

Other costs: $25,000

Property sale price: $400,000

Profit: $135,000

 

Experienced property developers in Genoa use a minimum profit value of 22% when looking at potential Genoa projects.

 

The reason for this is because there are lots that can go wrong in Genoa property flipping and working on a potential margin of 22% should still leave a good margin of error.

 

Invest through a Fund in Genoa

 

Property Secured Investments is a Private Equity fund that invests in Genoa and many other towns and cities across Europe. The fund is only available to Sophisticated Investors and closed to United States Citizens. While this is not an offer or promotion of the fund, more information can be found at the website

Luxury Property in Genoa

For luxury property investors hoping to add a superb property in Genoa to their luxury real estate investment portfolio, Physis Realty is a trusted partner.

 

A world leader in luxury real estate with a portfolio comprising some of the most sought-after real estate in Genoa, Physis Realty caters particularly to high net-worth individuals and families. A luxury real estate investment in Genoa should be entrusted to only the highest-quality agency.

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