The property market in Italy is slowing down. It is doing so without too much drama, sensational headlines or huge price drops, but vendors are becoming more realistic in their expectations. Buyers with cash or financing in hand have the upper hand, and can expect more room for price negotiation than at any point in the last ten years. And with supply on the rise, there is a good number of homes for sale in the lower price brackets—up to €200,000 for example. We have found three interesting ones in North, Central and Southern Italy for €140,000 or less.
Traditional apartment, Imola Collina, Emilia Romagna
A small, atmospheric hamlet on the hills above Imola is home to a panoramic two-bedroom apartment. The hamlet is what remains of an ancient medieval castle with machicolated tower, and the apartment is situated in a traditional stone and brick building which is part of the old castle walls. Painstakingly renovated, it has an open plan living area with a lovely country style kitchen, a double bedroom, and another double bedroom on a mezzanine with beamed ceilings and parquet flooring. Rooms are bright and airy, with verdant vistas over the surrounding hills, and every detail is perfect, down to the hand made wrough iron banister for the mezzanine staircase. Buyers will have access to a large communal terrace which overlooks the lush Romagna countryside. “The beauty of this property is that it hs been totally renovated but it is part of the ancient castle walls,” says Eliana Andolfo of selling agents Homes in Italy. “The location is very peaceful but it is no more than 15 minutes from Imola, which is a very nice town with plenty of shops. It is ideal as both weekend and holiday home, but there are people who live in the hamlet all year round.”
The international airport at Forli is 50 minutes away. The asking price is €140,000 (+44 (0)845 229 7057, www.homesinitaly.co.uk).
Converted apartments, near Rotella, Le Marche
An ancient fortress stands in gently rolling countryside near the medieval village of Rotella, in Southern Marche. The building, which later became a stately home, has recently been restored and converted into several apartments and a house. Only three of these properties remain on the market now. Apartment number one has a large open plan living room and kitchen, and a bedroom. Apartment two is roughly the same size, but it is laid out very differently. Arranged on two levels it has an open plan kitchen and living area on the first level and two bedrooms on the second level. Apartment four has two bedrooms too, but a smaller living and kitchen area. All apartments in the complex have access to a shared swimming pool on the lush grounds. For those who prefer to plunge in the sea, Grottammare is only 30 km away. Apartment number one is on the market for €130,000 and apartment two at €125,000 but buyers with deeper pockets can choose to combine them together for a larger home. If bought jointly, they cost €230,000. Apartment four is for sale at €118,000. “I believe these are really good buys, with excellent rental potential if required, close to the airports at both Ancona and Pescara, in a quiet location yet with easy access to both town and sea,” says Linda Travella of selling agents Casa Travella. For more information, call +44 (0)1322 660988 or visit www.casatravella.com.
Acqua Chiara, Cuglieri, Sardinia
Acqua Chiara is the result of a fine renovation project. The current owner bought it when it was little more than a wreck and brought it back to life with a careful restoration that remained true to the original architecture while adding “an interesting personal touch,” according to selling agents San Marco Immobiliare. Situated in the heart of Cuglieri, a mountain village in Western Sardinia, this ancient village house hides beautiful rustic interiors behind a honey-hued façade. Laid across two levels linked by a wrought-iron staircase, it has three bedrooms with feature walls, a dining room with fireplace, a stylish bathroom with free standing basin and doorways with exposed stonework. The furniture, which is sold along with the house, matches the décor, with a country-style kitchen and lovely four-poster beds. Cuglieri is about an hour and forty minutes from the international airport at Alghero. The asking price is €132,000 (+39 0785 375 521, www.smimmobiliare.com).
