Country: Italy
If you stop at Tuscany or Umbria you may be missing out on one of Italy’s best-kept secrets – unspoilt Le Marche. Bordered by the Adriatic and hemmed in by the Apennine mountains, the region offers rolling farmland, medieval towns and bustling coastal resorts.
With recent capital appreciation of around five per cent per annum in the past three years, prices of Marche property have stayed pretty reasonable. Linda Travella of Casa Travella, says the area is a good option if you want the beauty of more popular regions but don’t want to pay their prices. “The Le Marche property market is stable but still developing,” she says, “you can find similar landscapes to Tuscany but at a lower cost, and you can certainly still find bargains.”
Travella says the northern coastal strip around Ancona is more developed and expensive than south and central areas, which Travella claims offers “some lovely coastal properties”, though she cautions it won’t be dirt cheap because of its proximity to the sea.
For the best value, Travella believes house-hunters should head away from the coast. “If you’re looking for a good investment and high rental yields travel a little further inland to somewhere like Fermo. For a more rural feel go to Macerata or Amandola.”
Travella claims property prices in rural locations can start as low as €60,000 (£47,900) and coastal properties in the south from around €100,000 (£79,800) for something in need of restoration, though these are becoming harder to find. Properties in better condition in more sought-after areas retail for around €250,000 (£200,000) but you will often get better value than elsewhere in Italy by having a large amount of land and either being close to a nice town with amenities or within easy reach of the coast.
Gemma Knowles of GK Italian Property also feels Le Marche is an area that will increasingly attract buyers priced out of Tuscany and Umbria. “It’s very Italian,” she says, “and unlike Tuscany and much of Umbria you won’t find restaurants with English menus and shopkeepers that speak English. Though the beaches aren’t as interesting as other coasts, the sand is white and resorts are beautifully maintained.”
Knowles recommends that buyers look at several key locations for the best investments, such as the walled city of Urbino, which she says “oozes history and has a warm, friendly atmosphere. The city is surrounded by rolling hills that drop down to the coast.”
Prices of Urbino property vary widely and depend on style and location but within the €300,000 to €600,000 (£240,000 to £479,000) price bracket you can find farmhouses, stone village properties and luxury apartments in historic buildings, all in varying states of repair.
Right on the coast, the busy town of Pesaro is another favourite with Knowles: “During the summer Pesaro is much like the other seaside resorts on the Adriatic with its long sand beach, rows of sunbeds and rather dated hotels. But the city doesn’t become a ghost town out of season. Its old town buzzes year round with great shops, restaurants and bars and an increasingly younger population with few British tourists.”
Knowles says property buyers should expect to pay around €250,000 (£200,000) for a two-bedroom apartment, with properties in the historic centre or near the beach starting at around €280,000 (£223,000) for something in need of modernisation. “Villas around Pesaro start from approximately €400,000 [£319,000], as there are fewer old-style properties near the town, with most having been built in the last 20 years,” says Knowles. “This is because mainly Italians buy property in this area and they typically like new-build rather than older properties.”
If you do plan on buying a restoration project, Le Marche offers lots of possibility, according to John Dillon of Realpoint Italy: “Le Marche Property offers unrivalled opportunities, especially for anyone who loves doing up beautiful old houses, as strict planning laws restrict the construction of new-builds because the area falls within the boundaries of regional and national parks.”
Dillon says farmhouses, some with outbuildings ripe for conversion, cost from around €500 (£399) per square metre up to €1,700 (£1,355) for something fully restored. He estimates average renovation costs around €500 to €750 (£399 to £599) per square metre, but says, once renovated, such a property would rent for between €600 and €800 (£479 and £639) per week in high season. He recommends the town of Apecchio for second-home owners who may want to rent their property out, due to its popularity with summer tourists.
If you want something a little more modern there is also plenty of choice. Dillon says villas and apartments on the coast with sea views start at around €3,500 (£2,795) per square metre and townhouses from €2,000 to €3,000 (£1,595 to £2,395).
Dillon describes the market in the region as “buoyant” due to buyers being priced out of other areas and an opening up of Le Marche by budget flights. He also claims Italy is a very different market to the Spanish property market.
“People choose Italy because they love the country,” he says. “They may have had business links with an area, usually speak Italian or wish to learn, and are interested in the culture of the country. The number of overseas buyers snapping up Le Marche property is growing fast.”First published in November 2008. Some information contained within this article may have changed since it was first published. Homes Overseas strongly advises you to seek current legal and financial advise from a qualified professional.
Price: €32,000
Type: Farmhouse
Bedrooms: 3
Approximately 150m² 3-storey farmhouse to be restored completely.Presently composed of 8 rooms and a cellar.Possibility to extract a living room,storage and 3 bedrooms.Surrounding land is 1000m².
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Price: €55,000
Bedrooms: 2
A portion of a farmhouse with grotto to restore. With 2 bedrooms and a bathroom.
Price: €60,000
Type: Townhouse
In the characteristic town center of Offida, entire building for sale, 103 m² on 3 storeys. Entrance is on the ground floor. On a raised floor is living room with dining room and kitchen angle. First floor has 2 bedrooms.
Price: £59,782 (GBP)
Type: Apartment
Residencial See the Sea is a super development of 1 & 2 bed apartments, located literally on the beach in Cariati Marina on the fabulous Ionian Coast. each property has been stlyishly designed. Walking distance to town, marina
Price: €69,500
Type: Apartments
Bedrooms: Studio
The Old Mill Residence Studio Apartments for Sale in ItalyDescription
The Old Mill Residence 2 Bedrooms Apartments for Sale in ItalyDescription
Price: €70,000
Bedrooms: 2/3
In an extraordinary panoramic and sunny position 120 mq farmhouse on two levels with 7000 mq of land. Euro 70000.
Price: s €73,200
Bedrooms: 1
A beautiful development in the town of Monasterace located in a quiet area surrounded by a large number of orange trees. The building will be composed of 74 units in 5 blocks, a system of apartments with a swimming pool and green area.
Price: £65,213
BEAUTIFUL COMPLETE BEACH FRONT PROPERTIES! We have 20 beachfront 1,2 or 3 bedroom apartments just 200 metres from the Ionian sea on the East coast of Calabria at Villa Piana, near Trebisacce, available from €74,995.
Price: €74,500
Pizzo Beach Club Studio Apartments for Sale in ItalyDescription
Price: €120,000
Roccafluvione: Completely restored. Ideal for summer/winter vacations. Beautiful location in a quiet & sunny area.
Prices from: £317,000
Bedrooms: 2 & 3
Vergelle: 8 units only, built using original local materials where possible. Hilltop location, breathtaking landscapes.
Price: €520,000
Bedrooms: 3/4 Bathrooms: 2
Ascoli Piceno: Restored. Quite, private location. Terrazzo of approx 30sqm 0.4ha of beautifully landscaped land.
Prices from: €180,000
Bedrooms: 1, 2 & 3
Development in Chianti, Siena, Tuscany just 50m behind the town’s main church. Hillside location offering stunning views.
Prices from: €250,000
Beds: 2 Baths: 2 - 1 ensuite
Kitchen + appliances, dining-room, sitting-room, garden front & back. Plans may be modified to suit your requirements.
Price: €230,000
Bedrooms: 2 Bathrooms 2
Contrada Ulmo, between Martina Franca & Ceglie Messapica. Restored. 1 ha land: DOC vinyard, olive/almond trees.
