After the customary Christmas hibernation, the second home market is slowly waking up.
The news from international agents are that buyers are still keen on Italy, but have become choosier and more cautious. They also look for competitive prices—UK buyers in particular need margins that will help compensate the decrease in value of the sterling against the euro, while American buyers expect to find the same kind of reductions they have seen in their home market.
While a massive decline in prices is unlikely—particularly for homes belonging to Italian vendors, who traditionally prefer to take their property off the market than take a huge hit on price—sellers, particularly non-Italian ones, are showing a greater degree of flexibility. Even though they may nominally maintain their asking prices, they’ll often consider any realistic offer. And because the quality and quantity of properties available for sale is still good, prospective purchasers have an opportunity to pick up some interesting buys.
We have selected three—a flat to renovate, a renovated one and a new development—that have a really affordable price. Just one word of warning, though: a good dose of realism is crucial for purchasers too. While this is a buyer’s market and owners are increasingly flexible, they are unlikely to entertain anything that is dramatically lower than the asking price.
Renovated flat in Roccantica, Lazio, €70,000
Roccantica is true to its name, which means ancient hold in Italian. It is a beautiful medieval village of crenellated towers and golden churches, perched high on the verdant hills of Sabina. Here, in the borgo’s medieval heart, Immobiliare Polidori are selling a fully renovated flat on one level. A few steps lead to the entrance door, which opens onto very Italian interiors that blend traditional touches—cotto floors, a fireplace—with contemporary ones. The flat has one bedroom, a living room, a breakfast kitchen, a bathroom and a balcony, plus its own cellar. The windows frame panoramic views over the Sabina countryside. The asking price is €70,000 (for more details call +39 0765 576477 or visit www.immobiliarepolidori.it).
Flat to renovate in Poggio Catino, Lazio, €100,000
Also for sale through Polidori Immobiliare is a large flat, this time in Poggio Catino, another pretty Sabina town. The property, which is in need of renovation, is situated in the historic town centre. It has a beautiful living room with fireplace and vaulted ceiling, three bedrooms, a kitchen, another small kitchen area, two bathrooms and a balcony. It would be easily split into two flats, as it has two entrance doors. The asking price is €100,000 (for more details call +39 0765 576477 or visit www.immobiliarepolidori.it).
Apartments in Tocco da Casauria, Abruzzo, from €135,000
The home of the powerful Centerba liqueur, Tocco da Casauria is a pretty castle town at the foot of the mount Morrone, in Abruzzo. In the town centre, a historic building is being renovated and converted into three flats. Two of the units, which are sold fully furnished, will have private gardens, while the third will take up the two top floors of the building. All will afford far-reaching views over the Abruzzo countryside. The conversion will use contemporary techniques to bring the building’s rustic feel back to life—with touches such as cotto floors, exposed brickwork, vaulted ceilings and wooden beams. Prices start from €135,000 and go up to €220,000. For more details contact Chesterton International on 020 3040 8210 or visit international.chesterton.co.uk.
