March 10 (Bloomberg) -- Banco Popolare SC plans to sell 1.45 billion euros ($1.84 billion) of convertible bonds to the Italian government, making it the nation’s first bank to seek state aid to strengthen capital as the global financial crisis worsens.
Banco Popolare told the Finance Ministry and Bank of Italy that it would like to take part in the government’s bank assistance plan, according to two statements released today by the Verona-based company.
The ministry approved a decree on Feb. 25 enabling Italian banks to raise as much as 12 billion euros ($15.3 billion) selling bonds convertible into non-voting shares to the government. UniCredit SpA and Intesa Sanpaolo SpA, Italy’s largest banks, said they may raise capital under the plan, while investment bank Mediobanca SpA said it isn’t interested.
Tuesday, March 10, 2009
Wednesday, March 4, 2009
Collecting Houses in Northern Italy
Some people collect stamps, ornaments or miniatures, but Toni Hilton collects houses in the Monferrato region of northern Italy.
“I’m a little bit of an obsessive,” she said, referring to the four properties that she and her husband own in and around Villa Sansecondo, a small town about 55 kilometers (34 miles) from Turin. They rent them out for short-term stays.
Ms. Hilton’s fascination with the area’s real estate began, oddly enough, on a bus in Mexico in 1992. She was on vacation from her job as a nurse in Florida and struck up a conversation with her Italian seatmate, Roberto Pierobon. They ended up traveling together — followed by romance, marriage, Ms. Hilton’s move to Italy and the birth of their daughter, Rebecca, now 11.
“I’m a little bit of an obsessive,” she said, referring to the four properties that she and her husband own in and around Villa Sansecondo, a small town about 55 kilometers (34 miles) from Turin. They rent them out for short-term stays.
Ms. Hilton’s fascination with the area’s real estate began, oddly enough, on a bus in Mexico in 1992. She was on vacation from her job as a nurse in Florida and struck up a conversation with her Italian seatmate, Roberto Pierobon. They ended up traveling together — followed by romance, marriage, Ms. Hilton’s move to Italy and the birth of their daughter, Rebecca, now 11.
Tuesday, March 3, 2009
Italy will liquidate a public real estate
ROME/MILAN, Feb 11 (Reuters) - Italy will liquidate a public real estate securitisation vehicle and pay around 1.6 billion euros ($2.07 billion) of outstanding debt under proposed legislation, two sources close to the situation said on Wednesday.
The legislation for the so-called Scip vehicle is part of a decree that faces a vote of confidence in the Senate on Wednesday. After that it will be voted on by the lower house of Parliament.
The second source said cash funds raised from Scip's first securitisation, called Scip 1, would be used to pay debt of a second securitisation, called Scip 2.
The legislation for the so-called Scip vehicle is part of a decree that faces a vote of confidence in the Senate on Wednesday. After that it will be voted on by the lower house of Parliament.
The second source said cash funds raised from Scip's first securitisation, called Scip 1, would be used to pay debt of a second securitisation, called Scip 2.
Property investors returning to second homes market as prices fall
Bargain property prices in many countries are beginning to tempt buyers looking for holiday homes, industry professionals report.
Real estate price falls are also making the pricier and more sought after destinations more affordable, it is claimed, especially top markets like Verbier in Switzerland, the French Riviera, Tuscany in Italy and the Caribbean.
'There are more properties coming onto the market in top destinations than we have seen for a very long time. There are good deals to be found,' said Alexander Kraft, CEO of Sotheby's International Realty in France
Real estate price falls are also making the pricier and more sought after destinations more affordable, it is claimed, especially top markets like Verbier in Switzerland, the French Riviera, Tuscany in Italy and the Caribbean.
'There are more properties coming onto the market in top destinations than we have seen for a very long time. There are good deals to be found,' said Alexander Kraft, CEO of Sotheby's International Realty in France
Monday, March 2, 2009
Calabria becomes a property investment hotspot in Southern Italy
The firm described the new homes project as “emerging as the most exciting holiday home location in the whole of Europe”.
One and two-bedroom apartment homes are available off plan, including either spacious ground floor gardens or rooftop terraces. In total the scheme involves 163 homes being built in two phases, with one due for completion in December 2010 and the other by June 2011.
Investment in the region has seen an improvement in the road network and the arrival of cheap direct flights to Calabria. Many homes in the region are also currently available for considerably less than comparable locations in established Italian markets, such as Tuscany.
One and two-bedroom apartment homes are available off plan, including either spacious ground floor gardens or rooftop terraces. In total the scheme involves 163 homes being built in two phases, with one due for completion in December 2010 and the other by June 2011.
Investment in the region has seen an improvement in the road network and the arrival of cheap direct flights to Calabria. Many homes in the region are also currently available for considerably less than comparable locations in established Italian markets, such as Tuscany.
Sunday, March 1, 2009
Tuscany - Gaiole in Chianti
Portion of farmhouse in the Chianti Classico hills refurbished in 2005 surrounded by vineyards & olive groves. Facing a communal courtyard has a secluded small rear garden & terrace. One part of the house is on two stories dating back to 1160 & the attached single storey pavilion dates to 1600.
Materials used are local stone and old timber trusses. Ground floor is 120 sq. mt. with fully fitted kitchen, 2 bathrooms, 1 with a Jacuzzi bathtub, large living/dining & bedroom. Top floor is 40 sq. mt. self contained with a single large space, living/bedroom & fully fitted kitchen with independent access through a stone stair and a private terrace.
Materials used are local stone and old timber trusses. Ground floor is 120 sq. mt. with fully fitted kitchen, 2 bathrooms, 1 with a Jacuzzi bathtub, large living/dining & bedroom. Top floor is 40 sq. mt. self contained with a single large space, living/bedroom & fully fitted kitchen with independent access through a stone stair and a private terrace.
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