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Property godfathers storm Sicily
Laura Latham

   


DON'T tell anyone, but there's still one beautiful but often ignored corner of Europe, full of pretty towns, great food and fabulous beaches, where property won't cost a fortune.

When you consider what Sicily has to offer, it was only a matter of time before the tourists who sit on its sands and ogle its historic cities decided to try to buy there.

Until recently, trying to buy a house on the island was like pulling teeth. Property agents were scarce, sales were conducted by word of mouth, and it was difficult for non-locals to find out what was available.

In the past few years, however, things have opened up as locals and overseas agents realised there's money to be made. Towns such as beautiful Taormina and Cefalu (star of the film Cinema Paradiso) started to escalate in price.

You'll be pushed now to find even a small apartment there for less than 210,000. But buyers keep on coming, looking for the undiscovered cheap village properties.

It's one reason Jo Passafiume and her Sicilian husband Tony decided to set up their company, Sicily Properties and Projects, three years ago in the town of Cianciana. She helped one or two English people buy in the area, and then found herself being approached by residents asking if she could help them to sell their homes.

"Local people in Sicily have a lot of property to sell, " she says. "They have inherited maybe three or four homes over the years and don't know what to do with them."

Cianciana, on the west coast, is two hours from Palermo. Much local property consists of small village houses and traditional country villas.

Prices can start from less than 15,000.

"I've got one property for 8,000, " Passafiume says, "though it needs some work."

This is true of many of the properties on her books, though Tony is an experienced project manager and will supervise all renovations.

Other homes for sale include one-bed apartments for under 37,000 and large townhouses or villas for under 110,000. "Prices are generally lower than other places, such as Spain, " Passafiume says.

If a property is more expensive, there's generally a good reason. One 322,000 villa is large and has a lot of land.

Then there's a unique cavehouse, built into the rock in the centre of the nearby town of Sciacca. Its fabulous architect-designed interior includes ceiling frescoes. This will cost you just over 1m.

Jeremy Smith of Sicily Property Company says the higher prices are what people ought to pay. "You can buy cheap, but often property will be remote or in disrepair, " he says. "You can find something for 15,000, but there's always a conflict between price and condition or location."

Smith says buyers often start looking for a property to restore, but realise they could get something newer for little more money.

"Renovations aren't always the best deal. In the mountains, you can get habitable houses for about 75,000."

Smith says the coastal areas have a lot of modern villas that don't appeal to Irish or British buyers. If you do want the sea, resorts such as Marina di Modica start at about 163,000. Buyers should also look at parts where historic property is still available.

"The town of Noto, near Syracuse, has beautiful Baroque architecture. It has seen a lot of restoration but isn't as expensive as, say, Taormina, " Smith says. "A two-bed townhouse in Baroque style would cost about 200,000."

While many are turned off by the modern architecture around Syracuse, in the area's historic enclave of Ortygia you can find apartments with two bedrooms for about 133,000. "And there's a very strong rental market there, too."

Of course, when it comes to Sicily, there's really only one question everyone asks. "No, " says Jo Passafiume, "there is absolutely no problem with the Mafia here." She admits that "absolutely everyone" asks about it."The Mafia is present here in all areas of life, " she adds, "but it isn't an issue, really."

Smith agrees. "There is Mafia in Sicily, but it's involved in big businesses, not some foreigner and his pile of rubble. There's far more to Sicily than that."

Sicily Properties and Projects, 0039-09229 87949; www. sicilypropertiesand projects. com Sicily Property Company, 0044-20812 31820; www. sicilypropertyco. com

NEED TO KNOW

>> Sicily has the same laws in property purchase as the rest of Italy.

>> There's no inheritance tax on properties of less than 1m.

>> There's no capital gains tax if you sell a property after five years of ownership.

>> Sicily is undergoing many improvements to its transport infrastructure, and it will soon be much easier to get around. A new autostrada is about to open along the coast from Catania, and a new airport is being built at Ragusa.




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