Country: Italy
With its sandy beaches, mountains like the Gran Sasso providing exhilarating skiing opportunities, rolling countryside dotted with villages and vineyards, and locals who are friendly and helpful, it is not difficult to let Abruzzo tempt you into submission. Add the fact that it’s largely undiscovered by property buyers and, as such, offers some super bargains, not to mention that it’s only around an hour or so driving time from the outskirts of Rome, and you wonder why you hadn’t invested your hard-earned cash in Abruzzo property and upped sticks a long time ago.Of course, there are issues other than its beauty and relaxed lifestyle to take into consideration. Anyone thinking of buying Abruzzo property will need to consider such things as whether it is suited to and has the necessary infrastructure for relocation or retirement, or whether it is a popular tourist destination and therefore likely to have a buoyant rentals market if, as a property buyer, you plan to spend only part of the year there. Investors will also need to address how much property they will get for their money and whether the region has the potential for significant capital growth. “The region has been tipped as the next big thing for many years and although there was quite a lot of media coverage and interest back in 2004 and 2005, it has never seemed to quite make it in the same league as buying Umbria property and Le Marche property,” says Mark Slaviero, director of Specialist Company Homes in Italy. The result, he says, is that you can still find a farmhouse for less than £100,000, albeit in need of some care; good news in the current climate when credit is difficult to obtain, the euro is strong and sterling budgets smaller than they once were. Abruzzo lies on the eastern side of Italy between Molise and Le Marche, hugging the Adriatic coastline. There are four provinces, Chieti, Pescara, Teramo and L’Aquila. Unlike its near neighbours Umbria and Tuscany and despite being outstandingly beautiful and easily accessible via its two developing airports at Pescara and Ancona, it has largely escaped the overseas property buying boom. Property for sale on the coast with sea views tends to be higher in price than inland rural properties, but all represent good value for money when compared to regions like Tuscany. Property prices can be anything up to 70 per cent lower, says international property consultant Philippa Pignat of Chesterton International. According to the Italian Federation of Professional Estate Agents (FIAIP), she says, prices of Abruzzo property are around €2,500 (£1,985) per square metre, while in property in Florence can be anything up to €5,000 (£3,970) per square metre and more.“Abruzzo offers a great alternative to the more expensive Tuscany,” comments Pignat. “The region has a similar, dizzyingly beautiful landscape with numerous vineyards and small villages, but as it is relatively undiscovered and a lot more affordable. This also means there is a lot more room for capital growth.” Pignat is currently marketing a large rural farmhouse in Tocco da Casauria at £273,000; and apartments nearby that have been created within a renovated townhouse, from £102,000. The renovation of older properties is a growing trend in Abruzzo, says Pignat, as it becomes more popular with property buyers and investors.The region, which has nature reserves and national parks covering around a third of its area, including the Parco Nazionale della Majella, Parco Nazionale Sirente Velino, Parco Nazionale del Gran Sasso and Parco Nazionale d' Abruzzo, is characterised by historic properties: from sprawling country houses through smaller village homes to town centre boltholes. Until recently there were few brand new developments in the region - developers tended to buy older derelict buildings and convert them into high-specification apartments or villas; now, however, there are new developments emerging, particularly in ski resorts and for when Pescara hosts the Mediterranean Games next year.
“A brand new village is being built at Chieti for the Mediterranean Games,” says Linda Travella of Casa Travella, who has been selling property in Italy for over 20 years. “At present you can find quite a lot of new-build properties in the area because of the games and if you buy off-plan you should see your investment rise.” Prices of property in Chieti start from around £80,000 for studios or one-bedroom apartments with on-site amenities; and indications are that capital invested in these properties can only grow as the region becomes more and more popular.
Travella feels the market is changing. Villas and farmhouses remain popular, she says, but more people are looking at apartments as a possible rental property investment. “You need to remember that this is not an area that has historically had a rental market so property prices will not be as high as some other parts of Italy,” Travella warns, but she adds the rental market has enormous potential. “The rental market has not really taken off yet but I am seeing property by the coast beginning to command high property prices.”
Philip Barker, of Overseas Homesearch, who is currently offering brand new apartments near Lake Scanno, Abruzzo’s largest natural basin, agrees, but finds a good percentage of his Abruzzo property buyers are simply looking for an affordable holiday home. He says: “For anyone looking for a holiday home abroad that provides beautiful surroundings, absorbing historic towns and great food, all combined with easy access and affordable prices, then few locations have as much to offer as Abruzzo.” First published in October 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: £7,314
Type: House
Ancient country house for sale in Abruzzo, precisely in Palmoli, ancient village in the inner land with breath taking views of the country sides. What we are proposing is an ancient country house on one level in need of restoration works. EXTRA ELE
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Price: £16,027
Ancient country house for sale in Abruzzo, precisely in Palmoli, ancient village in the inner land with breath taking views of the country sides. What we are proposing is an ancient country house on two levels and in need of restoration works, compl
Price: £20,547
Type: Land
Bedrooms: 2
Property for sale in Abruzzo, precisely in ALTINO, small ancient town of the inner land in the mountain area close to the Abruzzo National Parks. This property requires renovations, including rebuilding the roof.
Townhouse in the typical Sardinian village of Ussassai, towards the island's scenic east coast. The property is constructed over two levels of approx' 25 sqm per level. The house is basically a shell, requiring total internal renovation.
Price: £23,013
We are in San Buono, a small ancient village in the inner part of Abruzzo towards the mountains. We propose for sale a townhouse with a surface of 42 sq.m + cellar of 11 sq.m. The house comprises kitchen with fireplace, two bedrooms and bathroom.
In Mafalda, ancient village in Molise, we have for sale a small town house, composed as follows; garage on ground floor which is not part of the property for sale, but owner is willing to sell separately. First floor with kitchen and living room.
We are in Celenza sul Trigno, a lovely village in the province of Chieti. We propose for sale a townhouse in the centre and ready to live in.
Price: £23,424
Bedrooms: 1
We are in Pollutri, a few km from the amazing coastline the Adriatic has to offer. We propose an attached town house on twol levels and composed as follows: Ground floor kitchen, bathroom, fireplace, room below stair First floor: 1 bedroom DISTAN
Price: £23,835
Type: Apartment
Property for sale in Abruzzo, precisely in Atessa, small yet lively ancient town of the inner land. What we are proposing is an independent house surrounded by 2.500 sq.m of flat land. The house is on two levels and comprises 2 rooms per floor.
We are in Casalanguida. We propose for sale an attached townhouse in the centre. It’s on three levels and composed as follows: Ground floor with wood storage, cellar and bathroom; First floor comprising kitchen with fireplace; Second floor with o
Price: €274,900
With beach facing sun terrace & private entrance. All white goods included. Leisure amenities free to residents.
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.
Price: €520,000
Bedrooms: 3/4 Bathrooms: 2
Ascoli Piceno: Restored. Quite, private location. Terrazzo of approx 30sqm 0.4ha of beautifully landscaped land.
Price: £720,400
Bedrooms: 3
Borgo di Chioma: new semi-detached villas. Terracotta floor tiles, stone window sills and stairs, wooden ceiling beams.
Price: €120,000
Roccafluvione: Completely restored. Ideal for summer/winter vacations. Beautiful location in a quiet & sunny area.
