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Ecocitta FAQ
Italy / Le Marche
What is the opportunity presented in purchasing a property in Italy at the current economic conditions?
What are the advantages of purchasing a property in Le Marche, as opposed to Tuscany for example?
What are the climate conditions?
Where is the nearest airport?
Is there a golf course nearby?
The development / Units
Where is Ecocitta located?
What does the name “Ecocitta” mean / represent?
What types of units are available at Ecocitta?
What is the status of construction?
When will the first phase units be ready for delivery?
Are there show apartments?
What kind of commercial activities will be within the development?
How do the commercial and residential activities work together?
What makes EcoCitta a “green” sustainable development?
Do the models and images in the website represent the expected finishes?
Do all the units have parking facilities?
What are the available choices of interior and customization options?
Are the units furnished?
Purchase & finance
How much do I have to put down in order to reserve a unit?
What is the purchase procedure?
What is the payment plan and what is the guarantee on my payments?
What are the extra purchase charges?
What are the finance options (Mortgages)? Are there financing banks to the project?
What are the expected maintenance / management costs?
Are there any other taxes involved, owning a property in Italy?
What are the investment opportunities?
What is the opportunity presented in purchasing a property in Italy at the current economic conditions? [Back to Top]
Italy (as other parts of Europe), is currently undergoing an economic recession period. This is the time when the strong survive and come out from the crisis stronger. Ecocitta Fund has taken exactly this position in its investment in Le Marche and is taking advantage of the slow market, by securing the lowest possible prices for its clients, while utilizing the maximum expertise obtaining the highest quality product.
What are the advantages of purchasing a property in Le Marche, as opposed to Tuscany for example? [Back to Top]
Tuscany (along with some other Italian regions), has been THE most popular destination for (foreign) tourists for the past 25 years. While being well deserved of this position, this has brought about, among other issues, a rapid increase in the costs of property, living & travel. During this time, Le Marche, which is an almost identical region in landscape and character, has mostly maintained its reputation among the Italian people and has just recently started to receive the appropriate attention from the international tourist, relocation and investment markets. The average prices of property & living in Le Marche are considerably lower, while the region has just about everything to offer. See more about the region in this small brochure.
What are the climate conditions? [Back to Top]
Central Italy enjoys an ideal climate, with a beautiful spring, an enjoyable summer, a pleasant autumn and a mild winter (especially near the sea).
Where is the nearest airport? [Back to Top]
The nearest airport is Falconara (AOI), located near Ancona, approximately 35 Km north by the A-14 Highway, with a constantly expanding schedule of national and international flights.
Is there a golf course nearby? [Back to Top]
There are a number of golf courses around Le Marche. The nearest to Ecocitta being the 18 hole stupendous Conero Golf club, located at the Conero natural park, Sirolo. (Just 15 Km away).
Where is Ecocitta located? [Back to Top]
Ecocitta is located in the quiet Adriatic Sea side town of Porto Potenza Picena, at the heat of the Le Marche region (East - Central Italy). See it on a map.
What does the name “Ecocitta” mean / represent? [Back to Top]
Ecocitta stands for:
“ECO” – Relating to the core sustainable values and characteristics of the development.
“Citta” – which means “City” in Italian.
What types of units are available at Ecocitta? [Back to Top]
Ecocitta is an entire town quarter renovation development. As such, the development offers the largest possible variety of unit type: starting from one Bedroom, two and three Bedroom apartments, as well as three and four bedroom town houses. All units in the development have either a terrace or a garden exterior space.
What is the status of construction? [Back to Top]
Construction of the first and second phase buildings (no. 1,2,8), is ongoing, with the skeketon phase done and the exterior & interior finish works underway. The construction progress can be followed here.
When will the first phase units be ready for delivery? [Back to Top]
The first phase building will be ready July 2014, to be followed by the second phase ~December 2014.
Are there show apartments? [Back to Top]
A show apartment has been constructed within building no.1 and is awaiting your visit. We plan to finish 2 more show apartments in building no. 8 by June 2014.
What kind of commercial activities will be within the development?  [Back to Top]
The development, being actually an urban quarter, is designed to have two major commercial activity centers:
A. Building no. 8 which will be occupied by a 3,500 Sqm supermarket (purchased by Cedi Marche Supermarkets), along with shops and other commercial activities in the ground and first floors.
B. The entire ground floor of the new town square (“Piazza” in Italian), which will be the spot for small commercial activities such as Cafés, Bank, Post, Pharmacy, etc).
How do the commercial and residential activities work together?  [Back to Top]
Commercial activity is an important part needed to enliven the development as a dynamic neighborhood. However, close attention has been paid during planning and design to separate the access of the commercial parts completely from the residential units’ entrances. Regulated activity space and schedules will be kept as well, in order to maintain the fine balance of activities.
What makes EcoCitta a “green” sustainable development?  [Back to Top]
Many developments and buildings have been taking the “Green” title, following a marketing trend. At Ecocitta, we have been seriously following and realizing various aspects sustainability at the highest level of interpatation, starting from the strategic feature of the development being a re use of an abandoned industrial site within the city, rather than a development of new space, the seperation and recycling of the professionally controlled demolished old factory buildings into materials used in the construction of the new project , application of the highest energetic standards to the new buildings (materials, insulation, etc), production of renewable enrgy (photovoltaic panels, etc), minimizing enrgy consuption through the use of central systems, a collection system for recycling drainwater (on a project level) for use in irrigation systems, application of extensive gardens and park within the development, promotion of pedestrial and bicycle traffic by means of designated paths, etc. For us, ECO is not just a word it is a lifestyle.
Do the models and images in the website represent the expected finishes?  [Back to Top]
The features shown in the CAD imaging are for illustration purposes only, but definitely reflect the standard of the development.
Do all the units have parking facilities? [Back to Top]
There is gated underground parking floor for each building in the development, which include private closed garage spaces dedicated for each unit (at a separate cost). There are also public open parking spaces allocated throughout the development.
What are the available choices of interior and customization options? [Back to Top]
One of the advantages of purchasing early, is the high flexibly of internal design (including internal partitioning) as well as a full variety of choices regarding finish materials and colors, such as floor and wall tiling, customized electric and lighting, inclusion of upgraded “smart home” systems, etc.
Are the units furnished? [Back to Top]
The unit as a standard, is delivered with full tiling and fitting of the bathrooms, but is unfurnished. Ecocitta offers all clients a service of interior design, by an Italian architect (free of charge), that can design and produce the entire furnishing and fitting of the unit (including kitchen) according to the budget defined by the client.
How much do I have to put down in order to reserve a unit? [Back to Top]
All it takes in order to reserve a unit is a 500 Euro deposit. This will reserve the unit for a period of 30 days in which time you may have the possibility to finalize the purchase, change the reservation to a different unit or receive a full refund (excluding bank transfer fees).
What is the purchase procedure? [Back to Top]
Once a unit has been selected and the terms of sale agreed, a deposit of 500 Eur reserves the unit, following which a preliminary sales agreement is signed, stating the full terms of the sale. At completion of the unit and occupancy permit of the building, the final sales agreement is signed at a notary, exchanging the balance of payment against the property title deed.
What is the payment plan and what is the guarantee on my payments? [Back to Top]
Standard payment plan is: 15% on preliminary agreement signing, 15-25% during construction and the balance (60-70%) at delivery and exchange (at which point you also receive the mortgage). Flexibility to the above is possible according to specific request. You receive a full guarantee against any payments made up to exchange, according to the Italian immovable property sales laws.
What are the extra purchase charges? [Back to Top]
VAT (4% if the unit is the primary residence of the purchaser, 10% if secondary) Notary fees ~1,500 Eur.
Utility connection fees (Electricity, water)of ~2,000 Eur.
What are the finance options (Mortgages)? Are there financing banks to the project? [Back to Top]
There are a number of Italian (local & national) banks that will give mortgages to purchasers of units in Ecocitta. Mortgage standards in Italy these days dictate a mortgage of up to 60-65% of the property value. The main financing bank of the development is Carifermo – Casa Di Risparmio Di Fermo, of the Intesa Banking group, with whom Ecocitta has an agreement for attractive mortgage rates. We also have an extensive portfolio of finance brokers and institutions, to whom we may indroduce our clients.
What are the expected maintenance / management costs? [Back to Top]
Buildings on the development will be managed by a condominium management company, specializing in the field. Responsibilities of the company will include the cleaning, operation & maintenance of all communal systems and areas, etc. The expected maintenance cost (calculated for a 65 Sqm. Unit) is ~50 Eur/month. Apart from that, only regular utility bills (Electricity, Gas, etc. according to consumption).
Are there any other taxes involved, owning a property in Italy? [Back to Top]
Currently, owning a property in Italy involves an annual property tax, calculated on the basis of the official unit value.
What are the investment opportunities? [Back to Top]
Firstly, a potential capital gain on the invested equity, (supported by a mortgage) on a early purchase in an attractive development, located at a rapidly developing region. Secondly, rental income on a weekly / monthly basis (especially during the extremely busy summer holiday season).
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All material for illustration purposes only and subject to change. Company will be bound only by signed contract and appendices. All prices are in EUR.

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