Linda Travella of Casa Travella has stated that with increasingly investors seeking less risky options and Venice is one of the cultural hotspots, attracting thousands of wealthy tourists every year which makes it an excellent option for a buy-to-let investment. Alessan-dro Ghisolfi, Head of the research department of estate agents Gabetti has commented that the trend in prices is very positive and has reached a more stable level, recording yearly increases of 7% to 8%. Property prices in Venice remain on average higher than in other Italian cities.
Wide variety of property types is available in Venice. Purchasers often have to settle for properties that require renovation and if looking at listed houses, they must meet the terms of Italian planning law. Listed properties take more time to switch over because a 60-day notice must be given to the Soprintendenza delle Belle Arti (the office in charge of monuments and fine art). Venetian listed properties have other fiscal benefits which compensates for these inconveniences. Listed properties fall into a lower stamp duty band and-if bought to rent it out it is taxed only on the property's presumptive cadastral income rather than the total rent.
The most luxurious properties are found in St Marks Square and in other prestigious boroughs of Dorsoduro, Santo Stefano, San Polo and Cannaregio where Demand is particularly strong but there are cheaper properties are available in quieter areas like Castello. A two bedroom property might cost €300,000 to buy it and rental returns of around €1000 a week in these areas is possible as it is popular with tourists.
Serena Bombassei, president of Venice Real Estate has stated that buyers interest has turned to the once old-fashioned borough of Giudecca. In the last few years, a lot of work has gone into regenerating the Giudecca and the Zitelle area, where Elton John recently bought a place.
The most luxurious properties are found in St Marks Square and in other prestigious boroughs of Dorsoduro, Santo Stefano, San Polo and Cannaregio where Demand is particularly strong but there are cheaper properties are available in quieter areas like Castello. A two bedroom property might cost €300,000 to buy it and rental returns of around €1000 a week in these areas is possible as it is popular with tourists.
Serena Bombassei, president of Venice Real Estate has stated that buyers interest has turned to the once old-fashioned borough of Giudecca. In the last few years, a lot of work has gone into regenerating the Giudecca and the Zitelle area, where Elton John recently bought a place.
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