Five rooms, a garage included and prices starting at €50,000. It may sound unlikely, but a search on idealista shows that the Italian property market has a far from insignificant number of large flats with garages starting at €50,000.
Across valleys in Piedmont and villages in the southern Apennines, and in places including Biella, Campobasso, Isernia and Caltanissetta, these properties do exist. They are genuine opportunities and are vacant, rather than occupied by tenants.
Why do such large flats exist at these prices?
The first reaction to a 130 or 150 m² flat with a garage priced at €55,000 is often suspicion. Yet the explanation is usually rational and has little to do with hidden structural problems.
The key is location.
These homes are mainly found in small and medium-sized municipalities, often in inland, hilly or mountainous areas where local housing demand is lower than in major cities or provincial capitals.
In these locations, owners — often selling homes built during the 1970s and 1980s, when households were larger and space was a priority — can struggle to find buyers and may reduce prices significantly.
There is also the issue of condition.
Many of these flats need renovating. Starting with a €50,000 purchase and adding €30,000–€40,000 for renovation can result in a spacious, functional home at a total cost that would not buy even a studio flat in Italy’s major cities.
The garage: added value that changes the calculation
In medium and large cities, a single garage is worth between €15,000 and €40,000. In the largest cities, it can easily exceed €50,000. When a garage is included in the price of a flat, the real value of the purchase changes substantially.
Alongside the obvious practical benefit, a garage represents potential income. Even in many small municipalities, garages can be rented out for €50–€100 per month, creating an income that can contribute towards condominium charges or part of a mortgage payment.
For anyone buying a second home or an investment property, a garage can also significantly increase the appeal of the home, both for a potential rental and for resale at a later stage.
What to assess before buying
Once an interesting property has been found, there are several points to check before making any offer.
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The first is the energy rating and thermal insulation. Buildings constructed in the 1970s and 1980s often lose a great deal of heat. External insulation or replacement windows can cost between €15,000 and €30,000.
These costs should be assessed in advance, particularly as current tax incentives may reduce the overall outlay.
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The second point is the condition of the systems: electricity, plumbing and heating. In many flats at these prices, systems are outdated and need complete replacement to comply with current regulations.
This is not necessarily a deal-breaker, but it is a cost that needs to be budgeted for.
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Third comes the cadastral and planning position. Before completing the purchase, it is essential to check that the property complies with planning rules, that there are no unauthorised building works and that the cadastral details match the property’s actual condition.
This matters for any property purchase, though it is an even more important check in inland areas.
- Finally, look at the condominium. Check whether any extraordinary works have already been approved or are underway, such as roof, façade or lift work, which could leave the new owner liable for costs.
Where to find the most opportunities
The market for large, affordable flats is spread across Italy. The strongest concentrations are found in provincial capitals that have historically been less expensive, towns in the central and southern Apennines, and certain areas of the north-west.
In some cities, searches for large flats with garages priced at €50,000 produce more results than others. It is worth looking across the full list, as an unexpected location may be where the best deal turns up.
Source: https://www.idealista.it/