Abruzzo’s low cost property market has something for every taste

| June 13, 2014

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Located in the central part of Italy along the panoramic Adriatic coast, Abruzzo is a land of incomparable beauty, scenic landscapes, rich cultural and historical traditions, and very affordable property prices. The region is famous for its wild natural scenery, great mountain views, castles, convents, and seaside resorts. Although Abruzzo’s western border is only two hours away from the populous city of Rome, the region has one of the lowest population densities in Italy making it a spacious and peaceful place to live in away from the chaos associated with large cities and other touristy locations. Despite its quiet and peaceful lifestyle, Abruzzo is actually well connected to the rest of the world, especially via the Pescara airport.
Most of the region’s residents, who include an increasing population of foreigners, live along the more urbanized coastal strip. The countryside further inland is not as populated as the coastline but is quite rich in spectacular natural scenery with castles, convents, and mountain top villages.

cartina_politica_abruzzoThe real estate market in Abruzzo has in recent years become a subject of increased interest among foreign buyers due to the region’s beautiful landscapes and very low property prices. On average, housing prices in Abruzzo, which were already low, fell further after the global economic crisis while the number of properties for sale continues to increase every year. This is definitely the best time to purchase your dream home in Abruzzo!
According to data collected by Gate-Away.com, Abruzzo is the fourth most demanded region of Italy among worldwide homebuyers and first favourite among Americans.
One of the main reasons that are increasingly attracting foreign investors to Abruzzo is the region’s location along the Adriatic coastline. It is also located between the more affluent region of Le Marche and the small and striking Molise and find the highest concentration in the province of Chieti. The region is also home to the famous “Trabocchi” (literally Overflow) which are spider-legged platforms made of wood that were used for fishing in the usually turbulent Adriatic Sea. The Trabocchi were quite popular in the 18th century but there are many still in use today, mostly as tourist attractions complete with delicious seafood restaurants serving locals and tourists alike.

An overview of the low property prices in Abruzzo

OrtonaThe property market in Abruzzo follows the same pattern as in other Italian regions. The coastal zone is usually “more expensive” than further inland. This is primarily because here the coastal zone is more populated and developed than the countryside. However, property prices along the Abruzzo coast are still comparatively cheaper than in other Italian regions. Purchasing a home along the coastline is a great investment since you can even rent the property during summer when many tourists reach the coast to spend their holidays.
On average, the most expensive resorts are found in Abruzzo’s northern end between Alba Adriatica and Ortona, an area covering the famous “seven sisters” sea resorts which are renowned for beautiful and clean Blue Flag award with its golden sandy beaches and spectacular views of the unique Adriatic geological formation. This area has a higher real estate prices than in other parts of Abruzzo.

Property prices usually drop slightly as you head south from Ortona. For example, you can get an apartment in an area of 50 square metres for € 60,000 in the small but wonderful jewel which is Vasto rather than in a place like Tortoreto where an apartment goes for € 2,100 per square metre (also including garden, terrace, and cellar), or a wide detached house in a prime location with open views to the coast for up to € 3,400 per square metre. Tortoreto is a lovely seaside town whose name is derived from a vast presence of turtledoves in the region during the Middle Ages. The original town is located atop a hill near the Adriatic while the new town known as Tortoreto Lido lies on the seaside.

Vasto

Vasto

Pescara is a populous coastal settlement which is better served with links to other cities and the main airport of the region. The price for an apartment equipped with a terrace on a prime hilly location in Pescara ranges from € 1,300 to € 3,200 per square metre.

In the hilly hinterland, a few miles from the coast, prices drop further to fluctuate between € 1,500 and € 2,000 per square metre. The small quaint towns and villages in here are much quieter than the coast with relatively few tourists. This is where you find a good number of houses requiring some renovations. A fine example is in the town of Atri where you can buy a partially restored house of 100 metres squares at around € 40,000 or a beautiful detached 200 square metres home surrounded by greenery for about € 240,000.
Property prices are lowered further in the mountain areas. For example, in the Municipality of Dogliola you can buy a 50 square metres townhouse to be completely restored for around € 6,000 or a habitable property of a similar size for about € 12,000. This region includes the Apennines which are well connected and easily accessible. Indeed it is also quite popular for winter skiing and summer hiking activities.

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