Europe has been in financial turmoil since 2008 with the UK in a double dip recession . Real estate markets in many of the major countries have recorded huge drops in price. The prices of properties in Ireland plunged vertically, leaving the country chasing the shadows of the levels that were reached during the bubble in the mid-2000s. Castle domains for sale
The plight of Italian properties
Mario Monti, the Prime Minister of Italy, is making efforts to sell state properties quickly as a way to reduce the mounting debt in the country. Historic army barracks, hilltop castles and Venetian palazzos are all fair game and being put up for sale as the nation looks to slash its debt. Many prime properties are available for potential investors to assess, and the government is hoping to pocket a staggering $1.9 billion after selling over 350 more buildings that are expected to be made available in the market from the turn of the year.
The Orsini Castle, a 13th Century former papal dwelling that overlooks the Soriano nel Cimino towards the northern region of Rome is one of the main spots. However, potential investors will have to shell out big bucks, as Milan’s Palazzo Bolis-Gualdo is anticipated to cost a whopping $38 million.
Prices of homes in Greece and Spain fell by around 20 per cent in the last five years. However, other European nations such as Norway, Serbia and Austria have enjoyed rises in real estate prices. Amid the disorder, astute buyers have plenty of investment opportunities as they remain alert about the current economic situation. Investors from all over the world are looking to purchase properties at bargained prices here.