Fiabci Italia open letter to Italian Government

Giancarlo Bracco partner and founder of Immobilsarda, as well as Fiabci Italia President has written an open letter to the to the Prime Minister and key members of our government, on the subject of new regulations as a means to open up to international markets and revive the Real Estate and the socio-economic recovery of the country.

The goal is to bring a witness and concrete proposal, in the light of FIABCI knowledge of international contexts, to push the government to act promptly in order to encourage foreign investment in the Italian Real Estate. Regulations as the “Golden Visa” already enacted in countries such as England, USA with EB5, Spain, Portugal, the Balkan countries, represent a flywheel to revive the RE market, in the light of excellence and potential of our country.

FIABCI logo

Prime minister,

Ministers,

Members of Congress ,

I’m writing as an Italian citizen who has been working, for over 40 years in the international real estate industry , as well as President of FIABCI ITALIA the Italian chapter of the International Federation of Real Estate Professions, spread in over 60 countries worldwide.
Thanks to the prestigious “Special Consultative” role at the United Nations, FIABCI is a privileged observatory and a valuable mean of knowledge of new markets , innovations and changes taking place globally at socio-economic stage.

The purpose of this letter is to give a contribution that shows how Italy risks of being excluded from the process of growth, because devoid of legislative policies to favor the development through new capitals from abroad, promulgated in countries like England, USA, Spain, Portugal, the Baltics ecc.

The spread of new information and global communication tools, that allow a comparison between the conditions and lifestyles, means that hundreds of thousands of wealthy families coming from the emerging countries look at the West countries as a context which can ensure well-being and quality of life for their family.

Italy is, according to the statistics, in the first places among the favorite countries for this type of investors, who are not only large companies or institutions, but families investing in the purchase of real estate and producing a large benefit to the whole territory.

Each housing unit is not a separate entity, but interacts with the context in which is located, creating a secondary economic activity and involving different sectors, so as to redesign the social and urban context for an overall improvement of the city.

Italy is considered a real “treasure” of Europe, the most popular and important global brand connected to “well being” and “quality of life”.

Due to the lack of the adequate offers and guarantees in terms of tax relief and residence permits for wealthy foreigners, Italy is not able to fully reap the benefits of the phenomenon that sees the investments in urban and tourism residential real estate as a driving force for the economic growth.

We invite the Government and Parliament to adopt urgently new regulatory measures, that, along the lines of the recent Spanish law , the Portuguese Golden Visa, the U.S. EB5 etc. . ,facilitate and encourage the sudden entrance in Italy of resources which can be an immediate stimulus for positive change in the social, cultural and economic climate towards a new renaissance perspective.

With treats,

Giancarlo Bracco
The President FIABCI Italy

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