With the introduction of interest rate capping in Kenya a couple of years ago, financial institutions have become reluctant to lend to private individuals even if rates in the country are still well above elsewhere in the world. 

This coupled with the already high values of prime plots, is pushing the sea front property aspirations of many buyers out of reach; particularly if the buyer is looking for a private home set in its own grounds, rather than the high density, multi dwelling compounds presently under construction at the Coast as a result of the elevated land prices.

If you are struggling to find a suitable property. are tired of the paralysis created by cyclical waves of political instability and dream of a home to escape to when the rains arrive, it may be wise to evaluate true value for money a little farther afield.

Through our bases in Kenya, UAE and Italy Claudio Modola Design is able to offer the practicality of dealing with a local Kenyan studio whilst having the structure, know how, expertise and experience to allow you to build or restore a stylish second home in Italy, without the usual problems of a long-distance project.

Why homebuyers are now hot on the heels of property in Puglia, Southern Italy?

Long seen as the poor relation to Tuscany, this sun blessed region surrounded by 3 oceans on the heel of Italy is attracting more and more international buyers.

Despite its baroque hill towns, chalky beaches, plentiful olive groves and fabulous cuisine, it only began to be noted on the international market in the last decade. In that short time, however, Puglia has established itself as a trophy destination, like Capri or Portofino.

The interest in Puglia began at the end of a time of uncertainty in the Italian property market. Since the global financial crash of 2008, prices have fallen 20 to 30 per cent.  Yet what was previously a stagnant property market can now be considered most definitely vital and thus an excellent investment.

Both inquiries and transactions in 2018 increased 50 per cent on the previous year, which was 50 per cent higher than the year before, a trend which is expected to continue in the next 5 years.

Buyers typically target the area dubbed as the “Golden Triangle”, between Brindisi (where there is an international airport), Martina Franca (a baroque hilltop settlement), and the beautiful coastal city of Monopoli

This region has a wealth of charming structures in good structural condition but in need of renovation, including trulli, (conical-roofed cottages), and Moorish-style masserias, (fortified farmhouses) at highly competitive prices ranging from Euro 40,000 upwards, making it an attractive 2^nd home proposition irrespective of budget limitations.

So how can Claudio Modola Design help you maximise your investment in the Mediterranean?

We understand that it can initially appear challenging purchasing a property to restore abroad, however as a result of our bi lingual team and design studio’s in Italy, Kenya and the UAE we are able to dissolve most of the problems with our customised two-part process: –

Stage 1 – Home from Home Review

1. We start by talking with you about your requirements in terms of purchase price range, budget for restoration, property size, preferred location, number of rooms, lifestyle requirements etc
2. From there we shortlist and arrange viewings of a number of suitable properties which we believe have great potential and meet with your parameters.
3. We will facilitate preliminary discussions with the owner of the property and if you wish to proceed will connect you with an English-speaking advocate to oversee the purchase on your behalf.

Stage 2 – Design Process, Construction and On

In continual communication with you, we will develop a detailed architectural design and / or interior design for the property utilising where possible the skills of local artisans and the wealth of local natural materials.

(Turn key services are also available if required)

1. Provide coordinated structural engineering drawings for the project through a local Geometra.
2. Acquire all authority approvals for the construction process to commence.
3. Shortlist a selection of reputable contractors with proven track records to tender for the construction process.
4. Once construction begins, we will supervise the construction process as lead consultant until successful handover of the property.
5. Dress the property as required should interior design services be requested.
6. Produce appropriate marketing material as required if the property will be offered for rental for increased revenue. Typically this materials includes logo’s, brochures, drone images, rendered floor plans, computer imagery, video’s, professional photos, etc.
7. Identify an estate agent to list the property for holiday rentals or immediate sale in the case of speculative investments.

In short to be your eyes on the ground, leaving you free to concentrate on your business abroad.

As far as investing in Puglia is concerned, the facts speak for themselves and if you would like to explore the available options whilst the market remains lucrative, don’t hesitate to get in touch by writing us a mail or giving us a call on :- options@claudiomodola.com or on Tel Italy + 39 339 357 3420 or Tel Kenya: + 254 703 114 314.