Buying a property in beautiful Venice
Often described as one of the most beautiful and romantic places in the world, Venice needs little introduction. Historically a great cosmopolitan centre connecting the Western world to the East, today Venice continues to unite the globe by mingling fifteen million foreign visitors on its watery streets every year.
This magnetic city, with its exquisite palazzi and unique atmosphere, has long been one of the most prized places to own a home in Italy and naturally, therefore, one of the priciest. But the city’s holiday rental prospects are peerless, as visitors flock here literally all year round. Holiday rental rates can be anything from €500 to €5,000 per week, depending on the property and location. And re-sale values are pretty much guaranteed, as outsiders show no sign of ever losing interest in buying homes in Venice. No new buildings can really be shoehorned into the existing city so supply is unlikely ever to meet demand. Two-bedroom apartments in the least expensive parts of central Venice currently tend to ask around €300,000. In more average areas, expect about €450,000. And for anything in the utmost central or desirable areas, think €1 million or more. But it’s still possible to find exceptions and bargains if you have a good look through everything on Gate-Away.com. To buying homes in Venice, good research is the key.
If, like most buyers of properties in Venice, you’re hoping to cover some of your costs by renting your property out to holidaymakers when you’re not there yourself, choose an apartment with a terrace or garden as rental clients usually prefer to have some outdoor space. Almost every area of Venice has strong holiday rental prospects, but current favourites include Dorsoduro, Castello, San Polo, Santa Croce and Cannaregio. Slightly less popular and less expensive is the Railway Station-Piazzale Roma area. And while the famous Rialto and San Marco areas are still focal points for visitors, paradoxically many clients looking to rent an apartment prefer quieter and more locally lived-in areas.
Giudecca is becoming a popular choice
But there’s more to Venice than just its main central island, which contains all the districts named above as well as others. Many buyers have found lower prices and a greater sense of space and quiet by choosing homes in Venice but a little further out in the lagoon. Obviously, holiday rental prospects will be a lower beyond Venice’s main island, but they should still be very good. Giudecca is the nearest stretch of land to the main island, and this has become an increasingly popular choice over recent years. A stylish and fun alternative is of course the long, large island of Lido, with its beach holiday atmosphere and colourful homes. There are many other small islands dotted around, and each has its own property market and local flavour. Do some exploring to find the place that might be right for you.
Houses in rural areas also offer great value for money
Or perhaps you want to be near Venice, but actually prefer a house out in hilly countryside. Be sure to investigate lovely rural areas of the Veneto region such as the Berici hills south of Vicenza, the vineyard-striped Lessini Hills northwest of Verona, and the wonderful domed Euganean Hills south of Padua. These areas have charmed foreign buyers over the last decade or so, and houses here are a tiny fraction of the price of apartments in Venice!