Resicom – Holiday Investment – 04-21 – LB

The Italian Job

Italy is a country packed with culture, the best of which can be found in its vibrant and varied city centres. From Venice’s romantic waterways, Rome’s stiflingly hot climate and dose of ancient history, to the culture of Florence. There is something appealing to almost every holiday maker.

The rich tradition and reputation for good food mean that Italy is a firm crowd pleaser for tourists, and is thus a sound investment. City homes are perfect for this purpose, as they tend to be far less stressful to leave vacant than a remote country home.

Cheap flights mean that the Mediterranean nation is more accessible than ever before. However, one small drawback is the fact that the sheer age of most Italian cities means that they were not designed for modern life, and are thus not completely car friendly. Despite this minor issue, Italian cities are beautiful, bustling places, and with such a variety to choose from, the investor is sure to find something appropriate.

A Place in the Sun suggested that Rome, Florence and Venice were a ‘holy trinity’ for Italy due to their fame and desirability.

Rome’s 2,000 year history makes it an obvious choice due to its seemingly limitless attractions. Popular areas for buyers include Piazza Colonna, Via Giulia and Trastevere, in which prices range from €7,000 to €9,000 per square metre. .

Venice, a city immensely popular for weekend breaks and romantic getaways, sees prices peak in the popular San Marco Square. However, just 20 minutes outside this area is Cannaregio, a slightly more commercialised yet affordable area.

Finally, Florence, a capital of art and culture, remains steadfastly popular amongst investors. Good quality two bedroom apartments in the centre start from €750,000, yet prices drop to a mere €300,000 as you reach the city outskirts.

However, Italy’s appeal is not limited to its major cities. Nearby Florence is Lucca, an attractive and somewhat more affordable walled city. Prices originate from €190,000 for a one bedroom apartment in a palazzo within the city walls through Casa Trevella.

Similarly, Como Town is a mere hour from Milan airport, and holds excellent properties for reasonable prices. €395,000 will enable an investor to buy a newly renovated two bedroom flat on the second floor of a historic palace. Thus it can clearly be seen that a minor compromise on location can be of huge benefit in terms of the quality of the property.

Finally, Imperia is an interesting option. It is a beachfront town which boasts a direct train route to Monte Carlo and the South of France, offering residents an unusual choice of two countries. A renovated two bedroom apartment can be purchased in that location for just €220,000.

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