Italy may seem like the preserve of the rich and famous however with stable property prices the country has become more accessible.
According to the latest Knight Frank Prime International Residential Index, some areas of Italy are home to the most expensive properties in the world. In the index’s list of the world’s top 30 non-city property hotspots, the country boasts five entries with the most expensive spot was Sardinia's Porto Cerva, a marina on the Emerald Coast. Buyers could not approach Sardinia’s Waterfront property for less than £44 million and it is not unheard of for it to fetch £88 million.
International property company Savills stated that home values in Porto Cervo's Via Romazzino are at least $42,000 (£26,000) per square meter. Jelena Cvjetkovic, property analyst in Savills said that the holiday homes of many of Italy's wealthiest people and many Russian billionaires are located on this street. The resort of Cortina is also popular with wealthy investors and property values are £13,388 per square meter, far higher than similar areas of France.
The index also stated Lake Como which may continue to be regarded as glamorous however buying a luxury overseas property there is not nearly as expensive as you may think. New build properties in the area are making ownership affordable and can be purchased for under €250,000 (£219,275). The average real estate prices in the region are £8,490 per square ft. The Independent has stated that prices in the Lake Como area remained stable during the recent global financial crisis.
Meanwhile, James Price, head of international residential development at Knight Frank, commented: "Lake Como has fared much in the same way as other prime European markets; the best-located properties remain desired and largely owners can hold for prices as they are not in need of rapid sales”.
According to the latest Knight Frank Prime International Residential Index, some areas of Italy are home to the most expensive properties in the world. In the index’s list of the world’s top 30 non-city property hotspots, the country boasts five entries with the most expensive spot was Sardinia's Porto Cerva, a marina on the Emerald Coast. Buyers could not approach Sardinia’s Waterfront property for less than £44 million and it is not unheard of for it to fetch £88 million.
International property company Savills stated that home values in Porto Cervo's Via Romazzino are at least $42,000 (£26,000) per square meter. Jelena Cvjetkovic, property analyst in Savills said that the holiday homes of many of Italy's wealthiest people and many Russian billionaires are located on this street. The resort of Cortina is also popular with wealthy investors and property values are £13,388 per square meter, far higher than similar areas of France.
The index also stated Lake Como which may continue to be regarded as glamorous however buying a luxury overseas property there is not nearly as expensive as you may think. New build properties in the area are making ownership affordable and can be purchased for under €250,000 (£219,275). The average real estate prices in the region are £8,490 per square ft. The Independent has stated that prices in the Lake Como area remained stable during the recent global financial crisis.
Meanwhile, James Price, head of international residential development at Knight Frank, commented: "Lake Como has fared much in the same way as other prime European markets; the best-located properties remain desired and largely owners can hold for prices as they are not in need of rapid sales”.
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