“There has never been a better time to buy properties in Italy”

Alessandro Colombo – Sales Manager UK and USALondon – The Hurligham Club – 31st October 2012

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Agenda

1. Milestones

2. Overview on Market Data

3. Buying Procedures and Taxes

4. Luxury Residences

5. Glimmers of Recovery

6. Case Histories :

- Undiscovered Tuscany - Porto Cervo - Costa Smeralda

- Lake Garda

1. Milestones

Foundation in Bergamo (Italy) as a Real Estate agency specializing in the listing of residential and commercial areas, studies of feasibility, finance and operational management.

1999

Growth of Hèra by the acquisition of relevant assets in Italy and abroad.

2003

Globalization of Hèra, partnering with key players on the international marketplaces, opening the first office in Moscow to guarantee the presence within the Russian territory.

2007

Consolidation and development of Hèra due to consistent growth on the markets.

2011

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2. Overview (1/3)

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Yearly number of sales nationally

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2. Overview (2/3)

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Yearly avarage variation of sales prices

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2. Overview (3/3)

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Yearly average prices per square meter

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In Italy only one Notary is in charge of the sales process on behalf of the buyer and the vendor.

The Notary will undertake searches on the property.

The buying process consists of two steps, which are the “contratto preliminare” (exchange of contracts) and the “rogito” (completion of the sale).

At signing the contratto preliminare the buyer will pay between 10% and 30% of the selling price.

On completing the sale the buyer will pay the remaining 90% or 70%.

Upon signature of the rogito, the buyer will pay the notary’s fee, the agency fee, and stamp duty

VAT is currently 21%

There is no Capital Gain Tax after 5 years from the purchase.

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3. Buying Procedures and Taxes

4. Luxury Residences

Marketing and Sales activities still considerable

Sell cycle time unchanged

High quality of residences

Demand for bigger sizes

Re-pricing trend

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5. Glimmers of Recovery

Urban riqualification

More attention to eco-sustainability of projects

Some prestigious historical buildings coming for sale on the market

Investment Funds start looking again at Italy

Propension of Italian families to buy homes remains strong

Tendency to deregulation

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6. Case Histories

Undiscovered Tuscany

Porto Cervo – Costa Smeralda

Lake Garda

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Undiscovered Tuscany : Marina di ScarlinoUndiscovered Tuscany : Marina di Scarlino

South of Tuscany , close to Rome and Pisa airports, Siena, Florence and the Etruscan Volterra within a driving distance , beautiful beaches, unspoiled landscapes, golf resorts, sailing with Nautor Swan, wineries, quaint villages, handcrafts

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Porto Cervo – SardiniaUltra-luxury becoming accessiblePorto Cervo – SardiniaUltra-luxury becoming accessibleNorthern-East of Sardinia, worldwide famous sea resorts, elegant and classy, Olbia Intl. Airport, charachteristic Sardinian rural untouched landscape, top brands shopping, nightlife, typical enogastro pubs and gourmet restaurants, prestigious golf courses,

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Lake Garda – Strategically Located

Verona and Venice art cities at a stone’s threw, international airports, Franciacorta wine district, prime shopping malls, Alps ski resort close-by, Lake Garda and its warm climate all year long.

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Thank you for attending

Contact

www.heraimmobili.com

colombo.alessandro@heraimmobili.com