Buying a Coastal Property in Emilia Romagna

| November 20, 2014

Adriatic coastline

The Adriatic Coast of Emilia-Romagna is widely famous all over the world for its fascinating fine sandy beaches with shallow and safe seabed, and its entertaining locations that dot the littoral and make it a sought-after destination.

That’s why many Italians and overseas tourists (especially Russians and Germans) of all ages decide to spend their summer holidays in this lovely, sophisticated area. A very long coastline stretching from the so called “lidi di Comacchio”, including 7 sea resorts in the north of Emilia-Romagna region, to Cattolica in the very south which borders the Republic of San Marino and Le Marche region.

Sun, sea, sports, exquisite food, lots of fun, but also culture. As a matter of fact, from the coast you can easily reach major art cities such as Ravenna, Unesco heritage since 1996 for its beautiful Byzantine mosaics, or discover beautiful ancient hamlets rising atop the hills in the hinterland, just a few kilometres from the littoral.

Rimini beach

Rimini beach by Siri B.L.

But what about buying a coastal property in Emilia Romagna?

Reasons why you should buy along the coast of Emilia Romagna

Whether your reason for buying is investment or pleasure, this is a right place to choose for three main reasons other than excellent food, high quality of life, sun and genuinely happy atmosphere:

#1. Stability of the region’s housing market

It is an area with stable market because the rental returns and investment prospects are high. There is also a wide variety of property investments to choose from according to the buyers’ tastes and preferences.

#2. Investment returns along the coastline

The Riviera of Emilia-Romagna region attracts many tourists (both Italian and non-Italian) because it is where they can travel around as they cherish the city, the beach and the countryside just a few kilometers far in equal proportions. Moreover, it has good social amenities to match the quality of the life that overseas buyers look for in holiday places.

That’s why, as a high tourists area, it represents an excellent investment if you rent out your coastal property in Emilia Romagna. It has a great potential because you can buy a house that can make you big money especially during the high season (summer months) when prices are very interesting. In this period you could let a two bedrooms apartment for about 750 € per week, depending on the area.

Some data on the tourism industry: a system composed of 3,455 hotels; 83,000 beds in camp-grounds and tourist resorts; a network of 1,600 beach resorts which is unique in Europe and that employs more than 8,000 people.

#3. Superb position

The location of the International Airport of Rimini – San Marino is convenient because it is only 4 km from the map city center Rimini. It is an important stopover linking the coast to major European cities. Yet it has improved over the last decades its synergy with Russia, thanks to a number of charter flights connecting Rimini to the major Russian cities.

On the other hand, also Bologna Airport, which is the third largest hub in Italy after Rome and Milan, and the main airport with an annual traffic of about twenty million people, is quite close thanks to the A14 motorway and good rail links.

Close to the Adriatic Riviera of Emilia-Romagna region are also the airports of Ancona – Falconara (about an hour from Rimini) and Verona (about 2 h½ hours from Rimini but very close especially to the northern towns of the coast), which are both connected to Europe’s major cities.

Property market rates in Emilia- Romagna

Southern towns (province of Rimini) are the most expensive with Riccione leading the rank. Prices in Riccione range from an average of 2,700 €/m² to 4,700 €/m² depending on the area and the type of the property. Obviously in central zones, including those closer to the beach, houses are more expensive than in the outskirts. On the same wavelength also Misano Adriatico and Cattolica. That’s because these three municipalities are the most popular and famous of the Riviera, as well as Rimini where prices are a little lower and fluctuate around 2,690 €/m². Here for instance you can buy a habitable one bedroom apartment for about €150,000.

Rimini

Rimini by Marina Firsova

On the contrary you will find more affordable homes (almost half the price of properties in Riccione) in the less famous but equally fascinating Bellaria-Igea Marina, a medieval fishing village which is composed of these two parts: “the older and the more recent one” divided by a river.

Going further north you meet the province of Forlì-Cesena, a short stretch of coastline where evocative urban centres lie, such as Cesenatico, Gatteo, Savignano sul Rubicone, San Mauro Mare and other small and picturesque villages immersed in pine forests lining the littoral which features intimate and tranquil beaches. Cesenatico is the flagship of this zone, that’s why prices in its very town centre are a bit higher compared to the rest of the province (1,400 €/m² to 1,700 €/m²). Also the adjacent town of Cervia (province of Ravenna) is quite expensive with prices fluctuating from 2300 €/m² to 3500 €/m² with a peak of about 5,000 €/m² in Milano Marittina. Why? They are some of the most classy and sought-after localities of the area, in the same way as Riccione or Cattolica.

But in the more quiet northern part of the region (Ferrara province), where there are not so many tourists as in the southern part of Emilia-Romagna, you will find unrivalled opportunities.

Lidi di Comacchio

Lidi di Comacchio by Luca Sartoni

Rural areas keeps great bargains

Moving away from the coastline prices fall. Only a few kilometers from the littoral, in the rural areas characterized by the beautiful countryside and hills dotted with ancient villages, you will get abundant farmhouses at very affordable prices as they are cheaper compared to those in the neighbouring Tuscany region. So, those investors who prefer more quiet locations and are in love with the typical Italian farmhouses they will find here their wonderland starting from 600 €/m².

For just €40,000 you grab an old property to turn into an exquisite country home, and for about €150,000 you could get both land and a large habitable home. It is a good bargain that you cannot find anywhere.
And this is definitely another good reason to buy one of the many typical houses that arise in this stretch of land, especially if you are a property renovator.

Verucchio

View from Verucchio over the surrounding hills by Michela Simoncini

For example in the mesmeric town of Verucchio, which rises 300 metres above sea level, just 18 km from Rimini, you can buy a wonderful and renovated 4 bedrooms house with garden for 2,000 €/m², or one in need of some maintenance works for about 1,100 €/m².

Verucchio, which has been awarded with the Orange Flag by the Italian Touring Club “an eco-tourist award to small towns and villages across Italy” and is spectacularly positioned on a rocky spur from where you can enjoy superb views, is also a village attracting many visitors all over the year.

featured image by Giacomo Carena

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