Building Dreams in Puglia: How VC Innovation Founders Are Crafting Their Italian Retreat
Infinity pool - Masseria La Calma - Puglia
How Two London Investors Turned a Visit into a Villa
In this post, we're not going to start by telling you how much we adore Puglia or how it has been a life-changing investment for us. Instead, we want to share the story of others who, like us, fell in love with Puglia at first sight and decided to dive into building their dream with Puglia Investments.
Meet Alex and Victor, old friends and the discerning founders of VC Innovation. Known for working hard and enjoying life too, they decided to bring their drive and vision to Puglia. After a brief visit in April this year, which impressively took them just six hours door-to-door from their family home in North London, they were hooked. With our help, they swiftly acquired a perfect piece of land ready for development. If all goes as planned, we hope to be lounging by their new pool under the Puglian sun next summer, celebrating their successful venture into the Italian real estate market.
Finding the Perfect Plot
The land that caught Victor and Alex's eye was ideally situated but came with its unique set of challenges. Owned by two brothers, the plot required careful negotiation to consolidate the titles and clear any existing covenants at the appropriate times. During the process, it was discovered that half of the land was under a mortgage that hadn’t been extinguished—a fact not declared by the seller, who was well-intentioned but inexperienced. Our team at Puglia Investments took the lead in resolving these complications, ensuring a clear path to ownership.
Navigating Legal Complexities
The complexities of buying property in Puglia can be daunting, especially from abroad. Our experience with Victor and Alex highlighted the importance of meticulous due diligence and local expertise. We successfully cleared the mortgage and unified the titles, allowing us to complete the purchase with the ‘rogito’ (final deed) just last week, in mid-September. Though the process took longer than expected, our proactive approach meant that development plans were already prepared to be submitted to the council immediately upon acquisition. You can learn more about the process of buying a property in Italy in our dedicated section or our blog article Unlocking Puglia: A Comprehensive Guide for Foreign Investors in Italian Real Estate
Bicycle in Gallipoli, Puglia, Italy
Development and Planning
With the land finally secured, Victor and Alex wasted no time in moving forward. Plans for developing their dream property were crafted in collaboration with our trusted local architects and engineers. These plans were submitted to the council promptly, with hopes high for an approval before Christmas. This swift action illustrates the potential for foreign investors to not only buy into Puglia’s charm but also to actively shape their dreams into reality.
Alex and Victor’s perspective
We asked Alex and Victor a few questions about their decision and journey so far:
Q: What initially drew you to Puglia, and why did you decide to invest here?
Victor: I was captivated by Italy's rich history, the culture, and stunning landscapes. Puglia stood out with its beautiful coastline and authentic local culture.
“The slower pace of life and the warm nature of the people made it an easy choice. It’s the perfect contrast to our busy lives in London.”
Q: Can you describe the process of finding and securing your property in Puglia?
Alex: It was a bit of a mixed bag. There were plenty of beautiful properties, but understanding the local market took patience. Thankfully, working with Juan from Puglia Investments simplified everything. His expertise was invaluable, not just in finding the land but in navigating all the bureaucracy involved.
Q: What challenges did you face during the buying process, and how did you overcome them?
Alex: Navigating the bureaucratic hurdles and the language barrier were significant challenges. Juan played a crucial role here, ensuring that issues like the unexpected mortgage on the land were resolved and that we could join the titles from the two brothers selling the land. His assistance was crucial in ensuring that we could complete the rogito smoothly.
Q: What potential do you see in your new property?
Victor: The land in Manduria is ripe with possibilities, from developing a serene living space to exploring agritourism. It’s an exciting venture that offers both a personal retreat and potential economic benefits through tourism and appreciation in property value.
Q: Any advice for others looking to invest in Puglia?
Victor: Spend time in the region, get to know the local lifestyle, and definitely work with people who know the ins and outs of the local real estate market. Embrace the journey, and make sure you have someone trustworthy like Juan on your side to guide you through the complexities of buying and developing property here.
Why Puglia? A Strategic Investment
The decision to invest in Puglia is underscored by the region’s rising popularity and the increasing value of its real estate market. For Victor and Alex, the investment was not just about finding a serene getaway but also about tapping into a market with significant growth potential. Puglia offers a unique blend of cultural richness, historical depth, and real estate affordability, making it an ideal choice for those looking to invest in a lifestyle and a legacy.
Conclusion
The journey of Victor and Alex is just one example of the possibilities that await in Puglia. At Puglia Investments, we are dedicated to guiding our clients through every step of the real estate investment process, ensuring that each journey is as rewarding as it is enriching. Whether you’re looking to create a family retreat or dive into agritourism, Puglia presents a landscape ripe with opportunity.
We are really looking forward to enjoying a glass of Primitivo by Victor and Alex's pool sometime next year. We anticipate building family memories filled with stunning beach days, great BBQs by the pool sipping great wine, and brilliant cultural outings enjoying world heritage sites, stunning natural walks, and breathtaking Baroque cities together in this amazing part of the world.
Cruz Family in Manduria, Puglia - Italy
Questions we Often get Asked
Can foreigners buy property in Puglia?
Yes, there are no restrictions on foreigners buying property in Italy, including Puglia. You can learn more on Residency, Visas and property ownership in Italy in our dedicated blog post Invest in Italian Real Estate: Navigating Residency, Visa and Property Ownership.
What should I consider before buying property in Puglia?
It’s crucial to understand the local market, engage with experienced professionals, and prepare for a journey that might come with unique challenges and opportunities.
How long does it take to buy property in Puglia?
The timeline can vary significantly depending on legal complexities and the specifics of the property, as seen in Victor and Alex’s experience.
What are the benefits of investing in Puglia?
Puglia offers a combination of lifestyle and investment potential, with its beautiful landscapes, rich history, and growing real estate market.
How can Puglia Investments help me?
We provide comprehensive support from finding the property to navigating legal hurdles and managing development, ensuring a seamless experience for our clients.
What legal protections are in place for foreign property buyers in Puglia?
Engaging in the Italian real estate market offers security through well-established legal frameworks that protect both domestic and foreign investors. It's advisable to work closely with a trusted local legal expert to navigate the specifics. You can learn more about on the subject in our post called Essential Documents for Investing in Italian Real Estate or Unlocking Puglia: A Comprehensive Guide for Foreign Investors in Italian Real Estate
Can I generate rental income from my property in Puglia?
Many foreign investors benefit from Puglia's thriving tourist market. With the right property and management, seasonal rentals can provide a steady income stream, boosting the investment's value. You can learn more about what to consider when evaluating the option of letting your house in our post titled To Rent or Not to Rent: Maximising Your Holiday Home in Puglia, and keep an eye out for our blog post next week about our experience renting out Masseria La Calma this summer; or simply Contact Us if you are considering following the Cruz too!
