Property in Umbria: Land of Treasures and Bargains

| April 7, 2016

Orvieto

This wonderful region serves as an example of how to properly mix the old with the new, a primary reason that property for sale in Umbria is turning into a magnet for foreign investors and home seekers.

Often referred to as the “green heart of Italy”, both for its lush vegetation as well as its central location in the country, it is experiencing something of a cultural and economic renaissance, with small-to-medium sized businesses leading the way. Better production techniques and transportation options have opened new markets and have created new demand for products of the region. Along with economic strides has come an increased interest in the region by the rest of the world. For example, exquisite tile and mosaic ceramic work has been a signature of Umbria for centuries, and now artisans from around the world are bringing their talents to the region, to learn at the feet of masters, and to contribute their own genius. Wine makers, olive oil producers, cattle ranchers and others with a specialty are buying shops, houses, villas and farms, and they are breathing new life into the entire area.

Homes for sale in Umbria: Careful Shopping the Key to a Successful Purchase

Comparisons to Tuscany are inevitable whenever Italian property is discussed. Tuscany is desirable, and people know it, which is fine unless you are trying to buy your way in. The idea of buy real estate in Umbria was once considered an afterthought, but that’s no-longer the case. A scan of Gate-Away.com’s listings in the region will provide a good overview of the situation.

Overall, real estate values are still dropping in Italy. So, for the discerning eye and sagacious shopper, the economic landscape is providing some choice purchase opportunities. We’ll select a few samples that will help to provide a clear picture of the region. As expected, prices for property in Umbria are topped by urban markets, while home hunters can get more house and land for their money in smaller towns and rural areas.

Umbria mapApartment prices in Perugia can range from 70,000 euros for a small (40m²) brand new apartment on up to a larger (65m²) modernized view apartment that may run around 160,000. Step out from the inner city, you will find different parameters. Here, you might see solutions with large homes (approx. 450m²) sitting on parcels that are large enough for extensive gardens, outbuildings, and swimming pools. Depending on the condition of a house, and its appurtenances, you can expect to pay something in the neighborhood off 400,000 euros. If you picked the property up and dropped it down in the Nera Valley, in the more remote and untouched southeastern area of the region, you could get it for tens of thousands less than in the Perugia area.
There are a few areas that offer some pleasant surprises. Look in the scenic hills of Lake Trasimeno, where 300,000 will buy you a spacious and comfortable real estate. A cautionary note is that property for sale in Umbria, especially in cities and larger towns, may not remain in the “bargain bin” for much longer. You won’t find a “steal of a deal” by simply throwing darts at a map of the region. Good, even great, deals are still out there, but these prizes are getting tougher to ferret out each year.

The retrenchment among large corporations and the re-emergence of smaller businesses has been ongoing since the 1970s, but a heightened sense of immediacy and momentum have been more recent developments. Though landlocked, air transport (via San Francesco d’Assisi airport) and railway lines help to connect the area with world markets. As business infrastructure has improved, the appeal to foreign investors has grown, as well. Today, non-natives settling on real estate for sale in Umbria are coming to fill existing job openings, to start their own new businesses, and/or to enjoy their retirement years in affordable comfort.

The day isn’t far off when enough people will know about the allure of this land that there won’t be any comparisons to other areas. Instead, Umbria will move to the other side of the equation and become the place that other areas will be compared to. Yesterday was probably the best time to start looking for your own home to buy in Umbria, but don’t panic; the dream is still alive.

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