Italy is becoming a popular destination for home hunters who are looking for a place in the sun where they can also enjoy art, traditions and history.
On the other hand, it is also an ideal ski destination with top infrastructure, après-ski scenes and wonderful scenery. As a matter of fact it is a popular winter location among snowboarders, skiers and free riders of cross country ski with its over one hundred and fifty-two winter sports, excellent skiing locations and thousands of kilometres of ski runs.
But only a few know this. That’s why the majority of people looking for a home near the pistes choose France instead of the bel paese, even if Italy boasts more affordable property prices and more enchanting scenarios where you can live a more relaxed life.
The most majestic picks in Italy are those in the Dolomites and the Alps – the youngest and highest mountain system in Europe – in the north of Italy, which are also more popular among overseas investors and holiday makers. Even if you can ski all around Italy, from north to south on its wonderful Apennines, with the only exception of Puglia region.
Anyway, the interest in these areas property market is growing steadily. And so their property value.
Housing Market in the Snow and its Rental Opportunities
The north of Italy has a vast interconnected ski resort network offering a great variety of valleys and slopes over a small region. Buying a property in this area is beneficial since you do not have to buy in a famous, large resort to enjoy diverse and superb slopes. One such area is West of Turin where well equipped and attractive regions like Pinerolo, Sestriere and Sauze d’Oulx. Together, these areas provide about 400km of incredible slopes within reach of each other. Via Lattea is situated in this region with a high point of 2,800m. This area has hotels and apartment blocks: a four bedroom chalet goes for over 1m euros.
So, of course property prices in the most famous resorts are quite high, but the lesser known resorts have considerably low prices. If buyers are looking for a bargain, it is advisable to look at smaller localities that link to popular destinations. For example, the Sansicario links to Via Lattea (the ‘milky way’), Monterosa and Campitello.
A two bedroom chalet in a popular area such as Sestriere goes for three hundred Euros. If you look for property around smaller ski resorts, you can find a one bedroom apartment for €100,000 and a three bedroom apartment for €150,000.
Another vast area is the Dolomiti Superski where there are twelve different mini areas providing about 1,220km of slopes. Another area worth mentioning is the Valle d’Aosta where the most popular resort is the Courmayeur. This resort is also known as the best all round resort offering good locations, superb Italian eateries and fun nightlife. Here, a three bedroom apartment goes for over € 800,000. Other resorts are Gressoney, St.Jean, La Thuile with price ranging between € 2,500-3,600 and Breuil-Cervinia ranging between € 3,000 – 6,500.
If you are looking to buy property for rental income, Sauze d’Oulx, Sestriere, Livigno, Cervinia, Selva Val Gardena and Madonna d’Campiglio are popular with foreigners hence more suited for rental income. Buyers targeting holiday rentals should know that Italy’s ski season starts in the first week of December and lasts until Easter holiday. Two bedroom apartments are the most favoured especially the ones close to a ski bus or lift.
Other favoured destinations at the moment include Macugnaga in the Piedmont region. For the houses located in central locations or closer to ski runs, the price is €4,600 while a brand new apartment situated in a residential complex costs €195,000. Another resort is Piccolo in Trentino, and it is closer to Madonna d’ Campiglio with luxury apartments costing €5200.
[Featured image by Franco Pecchio]