Invest in state-of-the-art apartments

€ 2,000,000
Piazza della Repubblica, Torino,
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Overview

  • Updated On:
  • June 13, 2023
  • 1,722 m2

Description

We offer a large investment property: 18 apartments and a large commercial surface, with an approved plan to renovate it. After renovation, it will have a very high energy efficiency, rigorous measures to secure against earthquakes, and full internal renovation. The projected costs of renovation are between €600 and €2,000 per square meter.

When finished, the 18 apartments (total surface 1,305 m2, average 73 m2) and commercial space (417 m2 plus 257 m2 of courtyards) will be state of the art and can yield rental income for a long time. 

 

The district

The complex is located at the junction of Via Cottolengo and Piazza della Reppublica, which has a large daily market with the finest fruits and vegetables, cheese and meat, herbs and spices. This makes it a destination for locals, which means the commercial space is attractive for businesses to rent.

 

The complex is in the neighbourhood of Aurora, which borders on the old centre and has a lot of history itself too.

 

The Royal Palace and Gardens, the cathedral and the university are not far away. This makes it a desirable neighbourhood for renters, and a tourist destination, which makes the commercial space attractive for businesses to rent.

 

Torino is a quintessentially Italian city, with palazzos and wide boulevards, good food and art, beloved by many. The Alps’ snow-capped peaks are visible from the city streets, and are a beloved weekend destination for locals and tourists alike.

 

Well-connected to Italy and Europe

The apartments are located 13 minutes from Torino’s main train station, from where high-speed trains run to major Italian cities, as well as to Paris, France. From proximate Milan, trains leave for Zürich, Geneva and Bern.

 

This means the apartments are well-connected to economic activity all over Italy and to beloved cities across Europe, making them attractive for renters with an affluent lifestyle.

 

The airport of Torino is a 23 minute drive away, connecting the apartments to direct flights all over Europe.

 

The apartments are connected to worldwide destinations via the airport of Milano, which takes about an hour more to reach.

 

On the Italian real estate market

Italy remains a relatively safe investment market, with low prices compared to other European markets and opportunities for capital growth. 

 

Cushman and Wakefield

Cushman and Wakefield, a global, multi-billion real estate firm, writes about Italy that ‘2021 data show sound results in both occupier and investment markets. […] Capital flows for real estate are still robust and Italy is well positioned to attract them. […] Institutional investors continue to increase their positioning in the Living sector, building new stock by acquiring lands […]. It is catching great interest from both domestic and foreign investors.’

 

Growth of economy and real estate market

Italy’s economy grew 6.6% in 2021 and 3.8% in 2022. the OECD expects it to continue to grow this year.

 

House prices remain relatively low compared to other European nations, which creates an opportunity for capital growth. When selling a property after having owned it for five years, profits are free from capital gains tax, which increases the return on investment.

 

Attractiveness of letting apartments

An analysis by Bloomberg Economics shows that price-to-rent ratios and price-to-income ratios have remained stable in Italy since 2015. Bloomberg writes that, in non-Italian nations, those ratios are potentially too high for stability, but not in Italy.

 

Lower price-to-rent ratios are more attractive when letting property, because the purchase price of property is lower compared to the rental yield. In countries with higher price-to-rent ratios, investors need to invest more to achieve the same rental yield.

 

With a potential recession approaching and in stock market volatility, investing in Italian real estate still offers a relatively safe investment, allowing you to hedge your portfolio.

Address: Piazza della Repubblica, Torino
City:
State/County:
Country: Italy
Open In Google Maps
Property Id : 34393
Price: € 2,000,000
Property Size: 1,722 m2

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