New property hits the market in Italy

Brand new property in Italy is something of a rarity, or at least that was the case five to ten years ago.

It used to be the case that those wanting to buy property in Italy were pretty much resigned to - or perhaps excited by - the fact that the property would be old and in need of work. But times change and the need for brand new properties has grown enormously in recent years.

“The Italians have been so used to older properties that they are more enthusiastic towards newer property than one would imagine”, says Linda Travella of Casa Travella, “and whilst there will always be a market for converting older buildings into modern-day residences, there is now a growing number of clients on my books looking for something brand new or converted”.

Casa Travella is currently marketing new, two- and three-bedroom properties at Lido Di Metaponto in the Basilicata region. The residential-style development is close to the beach and the Club Med Village, and is within easy access from Bari or Brindisi airport. Prices for the properties start from £80,000.

Another new complex is Borgo La Fornace in the Casentino area of Tuscany, a fairly undiscovered area where property prices are still reasonable. Situated only 50 kilometres from Florence, there are plans of building 60 new apartments around a central piazza, which will offer homeowners a shared pool and tennis court. Prices start from £79,000 for a one-bedroom property.

Those that like the idea of owning a home in and around Tuscany could give the neighbouring region of Umbria some consideration, where the property market has been boosted by new low-cost flights that reduce travel time from the UK.

Premier Resorts is currently marketing a new hilltop residential development in Ficulle, Umbria, called ‘The Hills’. This low-density development of 68 apartments will extend over 13 hectares and is situated in a nature reserve of 7,000 hectares. The first phase of the project offers 20 freehold one- and two-bedroom apartments. Prices for a one-bedroom apartment start from £108,000.

There are many advantages to buying a brand new property in Italy versus a property in need of renovation. One reason is that it being instantly available for family holidays or for renting out. Travella adds, “Clients nowadays have less time and more disposable income, which means that new build properties are increasing in popularity - and we see this as a trend for the future.”

Posted on: Italy

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New property hits the market in Italy

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