7 Best Invest

Compound interest Rate	Number of Years money will double
1	72
2	36
3	24
3.6	20
4	18
5	14.4
6	12
7	10.29
7.2	10
8	9
9	8
10	7.2
14.4	5
15	4.8
20	3.6
25	2.88
30	2.4

Excellent Rental Potential:

‘The Golden Triangle’ is in an excellent position on Lake Como and a very popular location for tourists. The area receives more requests for accommodation per annum, than the number of beds available. This is naturally a very healthy situation for an investor, with little scope for further development of property in the area.

Please see table below: - Currency Converter Below

Tre Terre Rental Potential

	Low Season	Mid Season	High Season	Annual NET rental income
Number of weeks	5	16	8
Apartment 1 rooms 4 guests	500	800	1,100	24,100
Apartment 2 rooms 4 guests	600	900	1,200	27,000
Apartment 2 rooms 6 guests	750	1,100	1,300	31,750
Tower	1,000	1,500	2,200	46,600

Development:

7 Best Invest are offering 13 architecturally unique luxury apartments with spectacular views of Lake Como. The development, is situated in Tre Terre above the charming village of Pianello del Lario, 15 minutes from the popular town of Menaggio and two minutes from the pretty village of Dongo. The apartments are offered as either an investment or as a perfect holiday home. There are local letting and management agents in place. Letting and management companies are in place. Mortgage providers are also on hand. Apartment sizes range from 62m² to 154m² living space. Some of the apartments are key ready, others will be completed over the coming months.

Specification:

Each apartment includes fully fitted bathrooms and gas central heating. Fitted kitchens are provided with all units, including white goods. Floors are either finished in stunning grey slate known as Ardesia or in some cases timber. Each apartment comes with a parking space and there is a stunning communal pool.

Location:

On a hillside, overlooking the town of Pianello del Lario and its marina – this is the ‘Golden Triangle’ of Lake Como, close to Menaggio and a short ferry ride to Bellagio and Varenna. The village has its own unique character.

15 minutes from the spectacular Menaggio golf course boasting magnificent views of the lake.

Milan is 1hour 30 minutes away.  Although Milan is a major city in all respects, it is comparatively small. It is easy to get around its historic centre, museums and art galleries as well as those well known designer shops.

Skiing is only 20 minutes away where local pistes can be found. For the real enthusiast St. Moritz is only 1 hour 30 away by train. The village is 1 hour from Milan Malpensa airport, 1.5 hours from Milan’s Bergamo airport and 45 minutes from the smaller Lugano airport.

Getting there:

Milan’s airports are served by most major airlines flying from all the major hubs. There are also plenty of budget airline flights from Stanstead, Luton, Manchester and other UK airports which fly to both of Milan’s airports.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

About the Italian Architect, Arturo Montanelli:

Born in Milan 1962, Arturo read Civil Engineering at the renowned Politecnico di Milano and graduated in 1987. He now is a professor at that same university working closely with both graduates and undergraduates. He travels extensively participating in international architecture conferences and is considered a master in his field of integrating striking architecture within natural landscapes.

Upon leaving university Arturo worked predominantly in rural planning. While his family on his father's side were all engineers, that of his mother were all involved in planning and architecture; their first catalogue was in 1850! He is driven by energy and the ecological impact of architecture upon an area. His projects, whether they are residential or commercial, are researched in depth at the concept stage to ensure they will work harmoniously with the natural habitat. The materials used play an essential role be it natural stone or untreated wood. There is continuity in the materials both inside and out to bring the building closer to nature.

Arturo established his own company, ARDEA, some fifteen years ago and it is based in Lecco on Lake Como within striking distance of Milan. Recent works include a selection of stunning modern homes in the Lombardy region, a baroque library in a deconsecrated church in Genova, an extensive list of commercial projects both at home and abroad for example The Gianfranco Ferre Spa in Milan or the outstanding new restaurant in Tokyo of renowned Italian master chef Enrico Derflingher called Officina de Enrico. (Enrico Derflingher has been personal chef to Prince Charles and the late Princess Diana, George Bush Senior, chef at the Eden Hotel in Rome, Palace Hotel in St Moritz and eight time winner of the Accolade World's Best Chef).

Arturo has designed for himself an impressive home of stone and glass in Varenna on Lake Como which has been featured in many magazines and books. He himself claims it was so difficult to remain objective that it is in fact not his favourite project! The project he enjoyed the most is the Villa dei Ciliegi in Besana Brianza just outside Milan. This villa is 1200 m² in size and is luminous owing to the sheer volume of glass used. Light is the defining focus for Arturo and he often begins a project by photographing the entire area in black and white to fully understand the interplay between light and shadow and how they in turn interact with the proposed plot.

At present Arturo is working (among other projects) on an abandoned village in Pianello not far from Menaggio on Lake Como. In the past there was much emigration following the decline of agriculture in the area and so many of the small pastoral houses in the little villages upon the hillsides close to the vines and fields were simply abandoned. These were never principal residences but used at key times during the agricultural year. When Arturo saw the site, he employed a researcher to seek out the owners and some four months later had the names of forty-two owners! He completed the purchase some years ago and has set about reconstructing it maintaining many original characteristics while incorporating his own special style of natural materials and the use of light.

For a better understanding of his work, one can visit his Web site at www.arturomontanelli.com

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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Finance

Price List and Apartment Types

Click Here to Download a PDF Price list -- Currency Converter Below

** Please note in Italy 10% VAT is payable on the purchase price
(also allow 2% to 3% for other costs)

Tre Terre Price List and Apartment Types Completion Dates - from January 2008 - November 2008

Apartment no.	Type	Covered Area m2	Garden m2	Balcony / terrace m2	Basement  m2	Price Euro	30% Deposit Euro
B1	2 Bedroom	84	53	12	-	€323,950	€97,185
C1a	2 Bedroom	102	75	-	30	€433,200	€129,960
C1b	1 Bedroom	90	100	-	30	€283,700	€85,110
C2	1 Bedroom	142	48	-	36	€444,700	€133,410
F1	2 Bedroom	107	120	57		€663,200	€198,960
F2	2 Bedroom	87	70	20	-	€429,175	€128,753
F3	1 Bedroom	65	-	38	-	€341,200	€102,360
G3	Studio	72	8	3	-	€289,450	€86,835
D1	1 Bedroom	56	50	37	-	€341,200	€102,360
D2	2 Bedroom	128	-	81	-	€700,000	€210,000
D3	1 Bedroom	56	-	71	-	€398,700	€119,610
D4	1 Bedroom	66	-	59	-	€414,800	€124,440
D5	2 Bedroom	110	-	88	-	€651,700	€195,510

Currency Converter

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Italian Mortgages

Finance is available, subject to status, through Italian banks secured on your property. Below is a table with examples of terms offered recently to clients after carrying out an official bank valuation, please see table below:

Repayment term	Interest rate	Monthly cost per 1,000 Euros
Variable Rate
10	Euribor 3 months 3.864 + 0.80	10.44
15	Euribor 3 months 3.864 + 1.00	7.84
20	Euribor 3 months 3.864 + 1.00	6.52
25	Euribor 3 months 3.864 + 1.10	5.82
Fixed
10	5.45%	10.83
15	5.55%	8.20
20	5.65%	6.96
25	5.75%	6.29

We recommend you use Banca San Paolo or BNL, a local bank who have supplied mortgages for our current clients. Alternatively UK based Conti Financial Services can provide and advise you of mortgage products in Italy. Available Loan to Value: Normally 70% subject to status. Note this is typically the purchase price, not the actual market value.

Note that there are no Buy to Let or self-certifying mortgages in Italy. It is similar to France, in that no rental income is assessed in the application. The bank looks at only net monthly income, to see if it is three times the mortgage payment. You will typically need 3 months' bank statements, 3 months' pay slips or other proof if self-employed and the latest annual tax documents, such as a P60 for UK tax payers.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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How Do I Buy ?

Introduction

We are aware that purchasing property can often be a daunting and painstaking experience. At 7 Best invest we operate a client relations team that can give you one-to-one personalised service that ensures your purchasing experience is an enjoyable one. We can give you as much or as little assistance as you require. We operate a hassle free policy which allows you to feel at ease and digest all the information in your own time before making any decisions.

We know our products are some of the best investments in the world. We are simply here to advise you which one is best suited to your needs.

Step 1: Enquire for more information on our products

Our client relations team will respond to your enquiry by sending you all the relevant documentation you have requested, including brochures, price listings and development information.

Step 2: Request Viewing

Our client relation team will take care of your travel and accommodation needs. We can arrange your flights for you and 7 Best Invest will pay for your accommodation for a night in a 4 star hotel in Varenna.

Our operations director Sally-Ann will personally meet you from the airport and take you to your hotel. Once you have settled Sally-Ann will then take you to the development site for your viewing where you will be given as much time as you need to look over our properties and the local areas.

We can at this time arrange for meetings with our lettings agent and any of the local banks or solicitors that will help you with your purchase.

Step 3: Agree to Purchase

At this point our client relations team will send you the relevant forms for your signature and a 30% deposit will be put down to ensure the sale. Once the contracts have exchanged within 28 days we can then refund any viewing trip cost that you have incurred, for example flight and excursion costs.

Step 4: Completion

Our operations director will meet you in person on location for the completion. At this stage you will meet with the notary and the local bank for sign off for the mortgage. All of the final payments will be made, for example notary fees, IVA costs and the balance for the property. Once all the commercials have been agreed, the sale will be completed. Once again Sally-Annwill be with you personally to ensure that everything goes as smooth as possible.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783)

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About Lake Como

Courtesy of Wikipedia

Lake Como (Lago di Como in Italian, also known as Lario; Lach de Comm in Insubric; Latin: Larius Lacus) is a lake of glacial origin in Lombardy, Italy. It has an area of 146km², making it the third largest lake in Italy, after Lake Garda and Lake Maggiore. At over 400m deep it is one of the deepest lakes in Europe and the bottom of the lake is more than 200m below sea-level.

Lake Como is in Lombardy, 45km North of Milan and in the Province of Como. Como is at the tip of the southwestern branch of this lake. Como is only a few miles from the Swiss border and 20 minutes from Lugano.

Lake Como is 50km long and west of Menaggio is where the lake splits in two. The mountains around the lake are 2000m high and the lake up to 1350 feet deep, making it one of the deepest lakes in Europe.

The lake is well known for the attractive villas which have been built here since Pliny the Younger constructed the Comedia and the Tragedia. Many have admirable gardens which benefit from the mild climate induced by the stabilising presence of 22.5km³ of lake water and are able to include tropical as well as temperate plants.

This jewel in the crown of Italy's famous lakes is a haven of tranquility with superb cuisine, majestic snow capped mountains, courteous folk and style. In his 'Charterhouse of Parma' Stendhal described it as an "enchanting spot, unequaled on earth in its loveliness." Virgil called it simply "our greatest" lake.

There are places to see and things to do. Like most Italian towns off the beaten track, these are not always obvious. The locals know where to go, but do not make it too obvious to strangers. Although when you arrive you are always welcome.

Como is situated at the head of the lake and is an ancient town over 400 years old with magnificent churches and historic monuments. Lake Como is however renowned for its exquisite villas, and probably the most famous one is Villa Carlotta, a combination of luxurious interiors and art collections. The grounds have exotic and lush plant growth (over 500 species of plants, trees and shrubs from all over the world). The old town is still to this day protected by high walls, but is populated by small and interesting local and designer shops. Strolling through these streets on a Saturday afternoon is part of the local culture. Grab a latte at one of the many street cafes and watch the elegant procession of young and old alike in all their finery.

Being at the head of the lake, Como looks down the lake toward Cernobbio on the left, home to one the word's finest hotels; The Villa D'Este' where many celebrities may be found taking a quiet break. Now that George Clooney has bought property near here, we imagine there will be a lot more.

Cernobbio and all the lakeside towns may be reached by car, but we always recommend the ferry services; less hassle, stylish travel, better views and good value. Take the ferry to Cernobbio and stroll around this lovely little village. If going by car a little further along is Toriggia, where you can visit Villa Passalacqua, a late 18th-century home where Bellini once stayed.

Traveling further North up the lake is Como's only island, Isola Comacina. The best day of the year to visit this island is the week end after June 24th, when St. John's Day is celebrated. There is a mass in the ruins of the S. Eufemia basilica, followed by a procession and evening fireworks. You will need to take the ferry!

There are enough lakeside towns and villages to explore for many weeks, but some are perennial favourites; Tremezzo is an example with a classic lakeside promenade plus some lovely old villas and lakeside hotels. From here you can take a car ferry over to Bellagio, 'the pearl of the lake' and Varenna, with its steep winding alleys on the opposite shore.

Bellagio is truly stunning and is ranked as one the most beautiful towns in Europe. Apart from its breathtaking views, immaculate homes and stupendous villas the town releases all this to your senses from narrow cobbled streets. To come to lake Como and not visit Bellagio would be a sin!

Not to be outdone Varenna, an ancient fishing village has a character all of its own. Steep alleys are laced with homes that show the owners have green fingers and a love of flowers. At the upper reaches of Varenna is an ancient castle where Theodolinda, Queen of the Lombards, is said to have died in the 7th century.

Varenna also hosts Italy's shortest river, the Fiumelatte. 800 feet long, it pours down the cliff face into the lake beginning in March and finishing in October each year, then it just stops! Story has it that Leonardo da Vinci went to find out where the water came from, but no-one has ever found out.

If you want to relax, then just drift around these spectacular towns, steeped in history, dine on the finest Italian cuisine, watch the locals go about their business and the watchers watching everyone else. However if you wish to walk off some of the excess and have some great views to take home, catch the the funivia up to Brunate and then take the footpath up to Monte Boletto.

Como's waterfront is the focus of life in the town. Here you'll find the palm-lined promenade, seafront gardens, a lively harbour and an international marina. The new Living Coasts attraction adds to the variety of the new waterfront and the illuminated bridge is a great backdrop to a relaxing evening drink. Yet within minutes of the town centre there are beautiful beaches easily accessible by foot, road or sea.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

Google Map of the area - Lake Como - Tre Terre / Pianello Italy :

Further maps of area below.
Use the +/- symbols on map to zoom in/out - Select 'satellite' to view real images - Select 'hybrid' to see satellite view overlaid with map view. Hold left mouse button down on map and drag map in any direction.

Maps of Varenna - Menaggio and Pianello - Lake Como

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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Frequently Asked Questions

Q: Freehold ? how does this work in Italy?

A: All our apartments are freehold. This means the buyer owns their property and share of land the building is built upon. Buyers will be granted full title.

Q: What security is planned for the project?

A: There will be an access road, no gate, or on-site security staff. This is not required.

Q: Are there any advantages to being an EU citizen when considering this purchase versus a US resident?

A: There are a number of angles to this question; as far as the purchase is concerned the answer is "no". However, the client may wish to consider two points:
1. Their personal tax position
2. Becoming an "Italian" resident which will make a difference to the overall cost of purchase, which means they pay 4% tax instead of 10% IVA. However, it may take 18 months to become a full citizen.

Q: Also what are the likely property / local / council taxes the owner would incur?

A: Compared to the UK, annual property taxes are low; like the UK the figure is geared to the size of the property. In the case of the apartments we would advise you to budget a gross amount of approx. €600 to €800 per annum. As soon as the property is finished and an ICI tax assessment completed we will be able to confirm actual costs.

Q: What are the proposed service charges?

A: These will be set after completion but will be between €50 to €100 per month.

Q: On completion, can owners occupy the apartment, or will the ensuing work on the new blocks prevent this?

A: Yes, they can occupy and use the apartment. Safety paperwork will be granted on completition.

Q: What is the target completion date of the whole project?

A: Some apartments are ready to occupy now whilst others will be ready in spring 2008 and autumn 2008.

Q: What swimming pools are there?

A: There is one swimming pool and sun deck (with stunning views) complete end 2008.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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Tre Terre Brochure

Document is in Adobe Reader - PDF format. If you don't have this on your computer you can download it here.

• Tre Terre - Lake Como Brochure

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