Best Italian Regions for Property Restoration

One of the activities that interest the most who buys a property in Italy is restoration. Of course the restoration project can vary a lot according to the area in which the restoration is undertaken. Not only because of the many differences in the regulation of each Italian region (such as the “Piano Casa”, so much discussed nowadays), but there are also big differences in landscape, services, architecture and, last but definitely not least, price. Here we have selected 6 regions which stands out for restoration opportunities:

 

Tuscany: restoration is part of Tuscany's DNA, as most likely it is the factor that kick-started Tuscany's fortune some 30 years ago. In fact, restoration is so important for Tuscany that they didn't think twice and have been the first region of Italy to agree and implement the Piano Casa. Nowadays it is difficult to find typical farmhouses that still need to be restored, especially in the sought-after area between the provinces of Pisa, Siena and Florence, better known as Chianti or Chiantishire, this has made the prices of renovation homes very high. However, there are other parts of Tuscany still offering great restoration opportunities, areas such as Lunigiana, in the province of Massa e Carrara, the north tip of Tuscany, and Garfagna, in the province of Lucca. Here is easy to find a house to be restored from 70/80,000 euros (slightly more for Lunigiana). The type of property in these two areas is different than in central Tuscany as it is different the landscape, more mountainous in the north and more hilly in the centre, therefore in Lunigiana and Garfagnana is not possible to find the typical farmhouses that can be found in the Chianti area, but there are more mountain style houses, still in stone with wooden beams ceiling but different in shape. For anyone willing to apply to the Piano Casa the deadline to hand the permission requests in Tuscany is December 31^st 2010.

 

Molise: Molise is one of the least known region by foreign buyers and this creates a huge potential as property investments. Being the second smallest Italian region after Valle d'Aosta, Molise still needs to be discovered also by Italians who are aware of its existence but quite often don't know very much about it and its beauties. Molise offers to its visitors jaw-dropping views with high mountains, rounded hills and beautiful shores, with its very cute sea town Termoli, but more important Molise offers a property market completely undiscovered by non local buyers. In fact, outside the main cities Isernia and Campobasso, prices for restoration properties are very low and it's quite easy to find town houses to be restored for as little as €20,000 or country homes for €30/35,000. Of course whoever wants to undertake a restoration project in Molise must be aware of the lack of infrastructure and services. For instance Molise hasn't got its own airport and the closest ones are Pescara (Abruzzo) and Foggia (Puglia) and internal roads need big improvements (for instance Campobasso, the capital, is linked to the coast by just one fast road with only 1 lane per direction). Despite the lack of services Molise has great potential as buyers, especially foreign buyers, will discover this beautiful region sooner or later and prices will go up offering great yield to whom has invested previously.

Le Marche: The slogan used to promote this region is “Le Marche: Italy in one region” which I think it's appropriate, as Le Marche has a bit of all Italy's characteristics. This is also why ever more foreign buyers fall in love with this region which is becoming ever more popular. Despite its popularity, Le Marche still has a very big availability of homes to be restored. Lots of town houses and country homes immersed in stunning scenarios waiting for someone willing to bring them back to life. The peculiarity of homes in Le Marche is the brick in which they are built of. This is of a light yellow that makes typical all the historical centres and country homes throughout Le Marche. As anywhere else, any time one wants to restore a home with original features, needs to make sure to choose a restoration company with experience in doing this type of restorations and always ask to be shown of previous jobs done in that style. In Le Marche region prices are still affordable, old farmhouses to be restored can be found with 100/150,000 euros, especially in the southern part of the region, but prices jump up in case of sea views.

Abruzzo: This region has always been considered as one of the most interesting regions when it comes to restorations. Unfortunately, after the tremendous earthquake that afflicted this region last April, the interest shown for Abruzzo by foreign buyers has dropped drastically. This is mainly due to bad information as most people think, not only abroad but also in Italy, that the earthquake hit all Abruzzo whereas the area badly hit is limited to its capital L'Aquila and some surrounding towns. Restoration properties in Abruzzo are in very big quantity, this is plainly visible driving through any road across this region, where lots of country homes in need of restoration lay immersed in stunning surroundings. Properties here are similar to the ones in Le Marche, farmhouses and town houses typically built in bricks, but prices are generally lower than in Le Marche.

 

Piemonte: Restoration properties in Piemonte are becoming more popular as the trend to restore a farmhouse with vineyard grows. Piemonte is famous all over the world for its prestigious wines such as Barolo, Barbaresco and Nebbiolo. Here the typical property to restore is called “Cascina”, which is what stands for farmhouse for Piedmont people. The farmhouses in Piedmont are different from the farmhouses that can be found in other regions (especially in central Italy), here are usually lower (up to 2 floors) and develop in a transversal way with a section of the building that was originally used as dwelling and the other part used as a hayloft on the upper floor and as a stable on the ground floor. This type of division of the building makes very interesting and appealing restoration projects. Despite the high popularity of the wine production area called Langhe, prices are still reasonable and a Cascina to be restored starts from as little as €70/90,000 (with some land but not a vineyard).

 

Lazio: This region is a hidden jewel in Italy's chest of treasures as it is not at all as popular as it ought to, especially compared to the fame of its capital (and Italy's capital) Rome, but it performs wonderful countryside and rounded hills with plenty of properties in need of restoration, from town houses to farmhouses at reasonable prices. Apart from its wonderful scenarios and stunning cities and villages, Lazio enjoys also of a central position in Italy making it very convenient to travel around. This is also why people choose this region to buy their restoration properties, as Lazio borders to Tuscany in the north, Umbria and Marche in the centre and Campania in the south.

Lazio has agreed to the government Piano Casa and the period in which permission requests can be deposited starts from the December 6^th 2009 and will go on for the following 24 months.