Sean\’s Sicily

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Posts Tagged ‘Real Estate

Selling up in Marzamemi

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So after much too-ing and fro-ing, A’Mio’s nonna has decided to sell the old house in Marzamemi. Oh boy, if only I had the cash! As it’s only being used for a few weeks every year for the past decade or so, it needs a bit of work (actually in my opinion it needs to be redeveloped into apartments!) so she’s not going to get top-price for it. Still, better than the original plan which was to sell 1 floor of it. That would kill any value in the place at all.

So whoever buys it is gonna get a bargain. Hopefully there’s a bottom limit below which she won’t sell. Seriously, if someone wants to buy it for €150k, I can get that myself from the banks at home and buy it! Sure the season is only 3 months long, but the rent per apartment is like €700 per WEEK! So figure 4 or 6 apartments, full occupancy for 3 months (‘cos Marzamemi is packed in the Summer) and you’re talking about a bloody goldmine.

Oh well, I don’t have the money – some rich bastard is just gonna get richer.

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Written by seancasaidhe

July 27, 2007 at 1:20 pm

Posted in Sicily

Tagged with , , , ,