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Fiaip: “Ups and downs for the touristic property market in Latina”

08 September, Latina Today

“The summer has been all ups and downs for the touristic property market in Latina”. That’s how the experts commented last season. While the internal market is still weak, having registered a decrease of the demand from people coming from the area comprised between Rome, Naples and Frosinone – around 20%-, foreign tourists have increased, balancing out – if not even slightly increasing – the total revenues for the market. “The new technologies have no doubt played a part for what concerns the promotion of the territory” – explains Salvatore Meneghello, Fiaip representative. “In some months, like March and April, the transactions positively concluded with foreign investors surpassed hands-down those with domestic buyers. After all, who comes from far away is certainly interested in closing the deal, with the great benefit of real estate agents”.

Foreign tourists

Germany is first with 29% of the manifestations of interest, followed by France (19%), and Switzerland (14%). Then come the Netherlands, Great Britain (both with 5%), Belgium (4%), Spain (3%), United States, Poland and Russia. This latter, along with the Baltics (especially Estonia and Latvia) is looking for more upscale properties, hence more expensive.

The other side of the coin

But all that glitters is not gold. Meneghello explains: “Many want to rent to their countrymates the house they buy. For this scope, some factors are penalising our market, as investors look at the level of infrastructures: roads, train stations, buildings’ facilities. They all concur to the final decision. Unfortunately, the beauty of our territory is penalised by the poor quality of infrastructures”.

Stefano Vertice, Fiaip director, intervenes: “We have the same problem with tourist rentals. Web portals do their job. But if guests find worn-out furniture in the apartment, no air conditioning and no Wi-Fi connection, the web will have no mercy: a bed review damages the whole territory”. Vertice stresses that “Our tourism caters to families. Pontino is not Romagna. There aren’t many attractions for young people. The modern family though is represented by people in their thirties and internet savvy. You can’t offer them a house with no Wi-Fi, a 19-inches cable TV, and air conditioning”. Vertice bitterly concludes: “Property owners tend to skimp on modern facilities, but such an attitude is like a suicide. We need a change, or we’ll pay the consequences soon”.

The provincial president Pietro Baglio agrees and comments: “I’ll report my colleagues’ opinion at the national council. Not only. Institutions might help us by promoting our brand, “Lazio”, which nobody barely knows about”. The president explains: “When we include in our ads the proximity to the capital, we immediately get people’s attention. Beautiful sea an hour away from Fiumicino airport and the Colosseum. For tourists used to travel thousands of miles, this is nothing. Rome is the winning cart, while the rest of the region is rather unknown, except for Sperlonga or Circeo. We need a more aggressive promotion – concludes Baglio – to be instantly more recognisable”.

Source: Latina Today

Translator: Cristina Ambrosi

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