the overall picture

Having lived in Europe and a holder of European passport frequently flying back and forth every couple of years.

My experience has been

If you try to buy within the vicinity of Rome or Milan you can expect to pay on average 5000 euro per sq/m.

This equates too approx $6362.00/sq/mtr on a 100sq/m apartment this is $636200.00 Australian dollars and this is today prices. Post GFC


Depending on closeness to amenities and attraction you have your cheap and expensive properties.

When comparing property prices you must compare apples with apples so to speak

For country properties it like anywhere else the area you are buying in.

Although the market is in a downward trend the locals tend not to use property as a commodity but rather it can stay in the family for generations.

Example of property price



Property Ref: IER13495

Location: Parma
(Click to learn more)

Parma, a magical town, a historic, artistic and cultural jewel.
(Approx 100 km from the coast northern Italy)


Do you want the independence and prestige in the heart of the historic centre? This property is definitely rare including double garage and is a perfect apartment if you want luxury while keeping original old features and be within a couple of minutes walking distance from the main town square.

There is a superb terrace for lunch or dinner outdoors. There is also a floor which has not been finished and would create even further living space. In total including the garages and cantina the property measures over 400 square metres

This represents an excellent opportunity to acquire a prestigious property at a very attractive price.
Click links below to view the plans and documents for the property:
Floor Plans


Condition
Some renovation required
Land
Terrace

No. Bedrooms
4

Floor Area
400 m2

Garage
Yes

Access Road
Private

Utilities
Connected?
Comments

Electric:
Yes


Heating:
Yes


Gas:
Yes


Sewage:
Yes


Water:
Yes


Telephone:
Yes


Price
€990,000 = Au $ 1260000.00

Examples of this can be found on Global property search
And property prices are also available.

In Italy, the average household net-adjusted disposable income is 24 383 USD a year, higher than the OECD average of 22 284 USD. Household financial.

The median equivalised disposable household income for Australia in 2007-08 was $36,082 according to the ABS, and $35,664 according the Melbourne Institute’s HILDA survey.

This has not changed according to figures at the end of 2011.

With 37% more household disposable income, a vastly more regulated banking and financial system and a fluctuating currency (controlled by one Government), for competition (except for when we have morons in government.)
A reasonable health system and pension system.
A well regulated superannuation system.

With approx AU $500 billion. A huge amount of super coming to maturity over the next 15 to 20 years and the Baby boomers looking to park it somewhere.

Guess what the GFC has guaranteed a large chunk won’t be going to the share markets.

ALL these factors combine to put pressure on real-estate.

All these factors combine to call Australia the lucky country.

The Doomsdayers and the prophets who forecast and bag the property market and Australian economy and are waiting for its down fall are also building underground shelters in anticipation of 2012.

It’s Time for us not to be compared to the debt ridden countries of Europe who are hocked up beyond recovery.
Or the USA that is borrowing at an unsustainable rate.

We are a country that can adjust its economic policies and currency to suit.
We have a large resource to population ratio and could easily accommodate population growth to stimulate growth in the domestic economy.

When it comes down to it we can adjust economic and national policy to advantage our geographical location to Asia beyond what our competitors would ever dream about.