As sellers adjust their expectation to the new market climate, it is possible to find several good value homes for sale across Italy. We have picked three—one in the North, one in the Centre and one in the South.
Italy is weathering the credit crunch better than many other developed nations. This is the message coming from property intelligence companies such as Scenari immobiliari, whose president, Mario Breglia, believes that the market will pick up, albeit marginally, in 2009 - more info. That said, average prices across the nation have come down, if only by a modest 5%, as more vendors adapt their expectations to the current economic outlook. Estate agents are also adjusting their valuations, so that the prices of homes now coming up for sale reflect the new market conditions. The end result is that there are plenty of good value properties out there, ready to be snapped up. We have picked three of the best in the North, Centre and South of Italy, all priced less than €180,000.
Panoramic villa, Val di Taro, Emilia Romagna
Verdant Val di Taro is a very interesting destination, according to Eliana Andolfo of Homes in Italy, because it is only forty minutes from Liguria and the sea, but local prices are a fraction of Ligurian ones. Here, Homes in Italy are marketing a new development by a “fantastic” developer in a small hamlet near the village of Albareto, within easy reach of Pisa and Parma airports. Apartments start from as little as €40,000 (for a studio in a newly built complex with a traditional feel) but even houses remain in the realm of the very affordable. One of the most expensive properties is a two-bedroom panoramic villa built in traditional style, with exposed stone walls, beamed ceilings, porch, terrace, and garden—which costs just €178,000. It is available off-plan through Homes in Italy (+44 (0)845 229 7057, +39 051 362194, www.homesinitaly.co.uk).
Townhouse, Turrita di Siena, Tuscany
Initially priced at €200,000, this historic townhouse was reduced to €165,000 to reflect the current economic climate. Part of Turrita’s city walls, it is a traditional Senese brick building with a strong Tuscan flavour. On the first floor, the sitting room has an open fireplace, exposed oak beams and terracotta floors—and French windows which open onto a balcony framing distant views of the Umbrian hills. A single and a double bedroom take up the second floor, and a staircase leads to the attic, which serves as third bedroom. There is also a wine cellar and store room in the basement, which is accessible both from the house and from the street. At the far end of the store room, a door leads out onto a small terrace. The townhouse is for sale through Cluttons Italy (+39 349 1327177, www.cluttonsitaly.com).
Oleandri apartments, San Basilio, Basilicata
San Basilio is a contemporary Mediterranean borgo close to the sea at Marina di Pisticci. In the pastel-hued buildings of the ‘delightfully-presented’ Oleandri neighbourhood, Casa Travella are selling a number of spacious ground floor apartments. Decorated in simple, seaside style, they have a living room with open plan kitchen, two bedrooms and a pretty covered patio to dine and relax alfresco. Owners have access to a shared pool. The asking price is just €145,000 (+44 (0)1322 660988, www.casatravella.co.uk).