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Buy-to-let Leasehold Property In Italian Seaside For Sale

Scalea, Cosenza
Asking Price:
Under €100K
Sales Revenue:
Not applicable
Cash Flow:
Not applicable

Here we have different blocks of flats for sale in popular holiday seaside destinations of Southern Italy being sold on basis of leasehold brings potential profit of up to 70% per year (based on full seasonal occupancy and management done by owner himself)

Please find brief sample description below:

City: Scalea, S.Maria del Cedro, Praia-a-Mare, Diamante and surrounding cities.
Location: city center, near beach, near train station
Features: near to all amenities
Consist of: 5-35 apartments (mix of 1, 2 and 3 bedrooms) and optional office, parking
Use: holiday lets, residential
Lease: 30 years extendable
Yearly maintenance costs (includes most of bills and ground rent/service charge) circa 2,450 EUR per year per apartment
Condition: good, furnished, may require basic cleaning and freshening up
PRICE: average price is about 8,000 EUR per apartment if buying in bulk. The more you buy, the cheaper it gets.
Purchase fees: usually 10%, but often paid by seller

Potential rentals:

Area of Riviera dei Cedri is very popular sea-and-sun holiday destination.
Please find average rental figures in the area below.

Estimate rent figures for average 1 bedroom apartment:
80-120 EUR per day in August,
50-60 EUR per day July, 30-40 EUR per day June and September,
May and October prices vary and usually are about 20-25 EUR per day or 100-150 EUR per week for longer lets.

Example of rentals return from 10 apartments: income of about 70,000 EUR per year, less costs about 28,000 Eur per year, gives estimate profit about 42,000 EUR per year (yield 70% per year). Calculations based on owner does rentals management himself and 100% occupancy during months mentioned.

Although, you are welcome to organise rentals and management yourself, we can also offer 2 types of rentals management for your property:

Option 1 - remote management

We can offer check-in/out and cleaning services (includes bed linen washing / change) which cost 65-75 EUR per service per apartment. With option you are marketing your property yourself and only notify us when your tenants are moving in/out. Our staff speaks Italian, English, Russian.

Option 2 - full-on management

We can market and rent out your property, take care of check-in/out process, cleaning etc. With this option you receive 40% of all rental income generated by your property. You only need to provide us with pictures of your property and tell us when do you want your property to be rented out and we'll take care of the rest.

Other services such as shopping, booking a taxi, refurbishment, car repairs, accompanying you with or without interpreter etc. could be provided and prices are set on case by case basis.

How to buy: Please contact us and let us know how many appts do you wish to buy and we'll create suitable package for you

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