Property for Sale Italy, Irsina

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We are pleased to announce the latest sustainable tourism venture in Southern Italy aimed at regenerating the Southern Italian village of Irsina.

The developer is committed to using only local workmanship and services in the restoration of the houses, as the aim of the project is to regenerate the local economy and divert many benefits to the local population.

The project is launched in the wake a Antico Borgo Calitri, a project in which 40 houses have been sold in the Southern Italian village of Calitri since the sustainable tourism development launched in October 2006.

Prices of properties available for sale (include property purchase cost, restoration and furnishing, excludes notary/closing costs and utilities connections fees):

Studio Approx. less than 35m £20,000
One bedroom Approx. less than 50m £25,000
Two bedrooms Approx. less than 85m £30,000

A Summary of the ‘Terre D’Irsina’ development Project:

The aim of ‘Terre D’Irsina’ project, which was designed by private property developers in conjunction with the local city council, is to turn this enchanting historical village into a getaway for those seeking quiet, tranquillity and a magical retreat from the chaos of everyday life. Added to this is ease of access: there are three international airports within close proximity of Terre D’Irsina.
The Terre D’Irsina project is an innovative one that seeks to combine the attraction for foreign homebuyers of a rural and uncontaminated location steeped in tradition and history with the benefits the purchases will generate for the local, mainly agriculture-based, economy. For the potential acquirer, Terre D’Irsina means combining traditional Mediterranean hospitality, weather and holidays with an attractive pricing structure that over time will prove to be an excellent investment. The town of Terre D’Irsina and its surrounding areas offer infinite rural and cultural activities centred around the many local traditions, gastronomical delicacies and wines. For those seeking a relaxed occupation beyond that offered by the village and its traditional activities, heading to the nearby beach or soaking in the nearby thermal baths or embarking on exciting culinary or wine discoveries are an attractive option.

The external restructuring of the medial hamlet has been promoted by the local city council over the years and this will be followed by the internal restoration works to be carried out on each house that is purchased.

Why invest in Italy:

The first question every potential investor asks himself is what to invest in.
With some stock market investments and pension schemes not fairing very well,
real estate is an attractive option. The second question is where to invest, particularly
in light of spiralling real estate prices in the U.K. and elsewhere. Southern Italy is a safe
and delightful alternative.

Italian culture is based on traditions, on the family and on the life that revolves around the home. Being a property owner has dominated the priorities list of most Italians in the last century, also thanks to government-introduced home purchase incentives. Property ownership has always been taken very seriously as an inve stment opportunity in Italy because of the potential returns. In fact, the market for second and holiday homes has expanded in recent years as investors have sought them out not only as an avenue for entertainment and travel, but also for their investment potential. Investors buying a house in Calitri stand to benefit from both aspects.

Tourism in Italy:
The Italian peninsula has attracted foreigners ever since the eighteenth century,
as James Joyce, Lord Byron and Johann Wolfgang von Goethe remind us.
Each corner of the country offers delicacies for the intellect, the body and the soul
to savour. The nation's artistic and cultural heritage is evident not only in museums
but also in the streets and in every-day life.

The outstanding architecture, the artistic heritage, the thermal baths, the enchanting seashores, the skiing resorts, and the gourmet food and wine are among the infinite attractions that entice many a visitor every day. Each region has its own specialties and characteristics, and while some are more well known than others, each is unique and has something very special to call its own.

Terre D’Irsinia has a population of 5.732, and only 15 percent of the population has a fixed job. An inflow of sustainable tourism will give this village a future, and the possibility of creating a services industry to meet the needs of vacationers. The Project managers are committed using only local workers as part of the restoration process in order to let the buyers put back into the community as much as they are getting out of it by purchasing a lovely home in Southern Italy at a low cost price.

Terre D’Irsina is in a delightful area of Italy that is sprinkled with castles, aristocratic palazzos and delightful locations soaked in history and tradition, ridged with hills and valleys and marked by the ancient trails. The lands surroundi ng Terre D’Irsina are completely intact, untouched by the massive urbanization and industrialization common to most rural areas in Italy and Europe today. Here, visitors can wander around and re-discover ancient worlds, visit abbeys and monasteries reminiscent of times gone by, enjoy the Mediterranean cuisine and wine, bask in the sun, and fill their time with exciting sports and cultural activities. This combination of factors make Terre D’Irsina a unique holiday location where homebuyers can go to
switch off and recharge their batteries.

Discovering Southern Italy:
Southern Italy still today remains a land virtually untouched by mass tourism
with many of its delightful locations still to be discovered by holidaymakers.

Italians in the second half of the 20th century, particularly from the 1960s on, developed
a passion for seaside and mountain resorts and never thought to venture
inland for holidays. The result has been that magical retreats like Calitri have been
largely ignored. While mountain and thermal tourism has started to develop in recent
years, rural tourism in Italy still has to be very much put on the map. There
are some areas, for example Chianti in Tuscany and parts of Umbria, where foreign
ownership and patronage have made certain locations extremely fashionable. Non-
Italian buyers kick started the process by selecting prime real estate in towns and
villages which today have become very sought-after locations.
Unsatisfactory plane, train and road connections are another reason why rural
tourism in the South escaped the mainstream holiday-maker for many years.
This is no longer the case; investors and vacationers are starting to look at Southern
Italy with different eyes as a result of recent and noticeable improvements in
all three (particularly in low-cost airlines that have turned what were once remote
areas into easily accessible ones, even from abroad.)1

Terre D’Irsina escaped the industrialization and urbanization common to many other attractive
holiday locations in Italy and Europe also because its enlightened local city council actively sought to promote its economy by fostering intelligent tourism and by protecting the town's environment and its cultural and artistic heritage. In fact, the mayor and the local city council are aiming to restore and rekindle life into the medieval hamlet and energize its economy, while at the same time preserve the town's architectural, gastronomical and cultural traditions. The houses and apartments being sold will remain true to the hamlet's old world style and rely as much as possible on original materials and architecture, yet at the same time are relatively inexpensive and extremely attractive for their price. Above all, foreign homebuyers and tourists are welcomed by locals and by the town council for their
contributions to the economy and to the preservation of the village.

Terre D’Irsina is an agricultural town, formerly an important Byzantine fortified hamlet, built on the Bradano river on the border between the region of Basilicata and Puglia. The town boasts an important 13th Century cathedral which was partly rebuilt at the end of the 18th Century and the remains of a Norman castle which have since been incorporated into the crypt of the former monastery of San Francesco

The medieval hamlet is a starting point for numerous activities and attractions,
for thousands of itineraries ranging from those focusing on medieval archeology,
thermal baths, wine buying, production and tasting, to those wishing to learn
more about traditional arts like cooking, ceramics and needlepoint. In buying and
visiting Terre D’Irsina, visitors and homebuyers have the added bonus of knowing that
they will be helping keep these traditions alive. Terre D’Irsina is a wonderful context in
which homebuyers and vacation-goers can go to relax and enjoy their spare time.
They stand to benefit from the peace and quiet and the relaxed country living to
just get away from the hustle and bustle of everyday life. Children are especially
welcome, as they are traditionally in Italian life. The locals are a well of information
and support for visitors and new home-buyers who want to discover things.
The local “feste'” and “sagre” (festivities) include events centred around gourmet specialties
and wine tasting and bridge the generations to reflect the community spirit inherited
from the days when townsfolk of different families and ages would join forces
to harvest wheat and grapes. Here, visitors and homebuyers are able to enjoy the
gastronomical traditions of local culinary artisans and partake in eating habits
that are among Europe's most discerning and most healthy.

Terre D’Irsina: A Medieval Hamlet in Basilicata:

Terre D’Irsina is a 6,500-strong town and is dominated by its Cathedral which dates back to the 13th century. The town is a bustling, Italian village which enjoys the leisurely pace common to all of Southern Italy and the high quality of life afforded by beautiful weather and good food. Terre D’Irsina is surrounded by idyllic countryside interspersed with rivers, lakes, fields, woods and archeological ruins. It's origins are lost in the mists of time, and the town and the
areas around it are dotted with archeological remains dating back to ancient Rome
and beyond.

History has helped mould the gastronomical customs of the area. Most of
the typical mouthwatering dishes are based on home-grown agricultural produce,
meats, cheeses, fresh fruits and vegetables. Age-old recipes passed down through
generations are still prevalent today and are founded on the traditions of the
healthy Mediterranean diet. Local wines are also an important attraction

Terre D’Irsina is structurally a labyrinth of ancient palazzos, rustic ironwork, marble stairways and engravings. The houses have thick stone walls designed to seal cold or warm air in, making the internal ambiance more comfortable depending on the season. Its wine cellars, meandering medieval passageways, chiselled entranceways, marble engravings, sun-kissed courtyards and rooftops are a snapshot of a bygone area.

The various phases of the project:

The properties sold as part of the Terre D’Irsina project will be restructured faithfully to adhere to local materials and history and only using the local workforce in order to give bqack to the community and to help create sustainable development of services for the locals. The houses will have the added benefit of the modern technologies that make life comfortable and easy. Local construction material will be used to reflect Terre D’Irsina’s traditions, and when available originals (cotto tiles and marble) will be used to recreate authentic interiors. The architectural and chromatic values of the hamlet will remain unaltered.

In Phase One, 30 apartments of various sizes will be restructured and
sold. These will be the prototypes of the properties to be sold in the following
phases. They will also be the most attractive in terms of price.

Phase Two will follow after Phase one has been concluded.

The Project is aimed at breathing life into the old hamlet and its economy, and at the same time providing homebuyers, their guests and visitors with a holiday home and with the local services for support and entertainment as they pass their free time enjoying the countless gastronomical delicacies, wines, local products, and activities.

The Properties On Sale:

The properties on sale in phase One are among the most interesting in the
project and for sure the most attractive from a price perspective. They are priced
at a discount and will be prototypes of future ones on sale.

Included in the price will be:
??Internal and external restoration work where needed, electricity, plumbing, and where possible the restoration of antique flooring (utilities connections are excluded and carried out by the buyers after the purchase of the property).

??Basic furnishing to permit immediate use of the property (bed, table, chairs,
kitchen, bathroom);

Prices & property types:

Studio Approx. less than 35m £20,000
One bedroom Approx. less than 50m £25,000
Two bedrooms Approx. less than 85m £30,000

Larger roperty on more than one floor or building: To be defined after year one.

*Please note that house prices are based on square meters and not number of bedrooms.
Phase One will involve only a set number of properties. Once these have been sold,
new acquirers will only be able to purchase in the following phases.
The properties will be considered sold once the preliminary sales contract and the restoration works contract signed, and the 55% deposit paid.

How the purchase is structured:

Phase One:

I. Signature of the preliminary sales contract and the restoration works contract
and payment of a non-refundable deposit equal to 55% of the final sale
price.

II. Two months later, stipulation of the deed of sale and the property transfer documents in front of a notary (a public official who represents the Italian state and whose responsibility
it is to register all contracts and collect taxes). Power of attorney can be arranged for another person in Italy to act on the buyer's behalf through public notaries recommended by the Italian Consulate in London if it's inconvenient for them to travel to Italy again at this stage. The outstanding 45% of the sale price to be paid.

III. The new owner will have full use of the restructured and furnished
apartment 210 days after the property rights have been transferred2;

Return on Investment:

Those buying property in Terre D’Irsina have a two-tier advantage. At the price of a
four-week Tuscan villa rental, buyers not only get a holiday home for life, but are
also making a sound investment.

Terre D’Irsina is what Tuscany was thirty years ago, yet he difference is today that the speed of communications and low cost
airlines are changing the nature of locations at the speed of light.
Terre D’Irsina as an investment opportunity offers a lot of potential.

While household prices on average in Italy have risen 62% from 1997 to 20043, foreign interest in some areas such as Chianti have inflated the market to the point that buying a
property in the area has become a huge financial commitment. A similar phenomenon has started to take place in Umbria. So while property saturation has been reached in these areas, where the supply of attractively-priced housing has dried up, buyers in Terre D’Irsina are being offered a slice of what in the future will become a new Italian holiday location.

In Terre D’Irsina, today, homebuyers are able to enjoy the same Mediterranean feel that exists in other more fashionable locations in Italy without the crowds that are drawn to such places and with the added bonus of an authentic lifestyle. The fixed costs buyers need to factor in when considering their purchase are annual Italian government property taxes, similar to those in other countries and proportional to the value of the property in question.

So, Terre D’Irsina: a small investment with huge potential.

The apartments and houses in the village stand to benefit from a rise in their value over time, as the town becomes increasingly known as a vacation location and as it appeals more and more to both an international and local clientele.

Last, but not least, foreigners who buy property in Terre D’Irsina are being welcomed open-armed by locals for their contribution to the preservation of the medieval hamlet and to the local economy. We're all on the same team, we all stand to win.

We wish you a wonderful time in Terre D’Irsina

How to get to Terre D’Irsina:

Airports:

Bari: 1 hour 20 minutes (84 km)
Brindisi: 2 hours 20 minutes. (199 km)
Naples 2 hours 320 minutes.(213 km)