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Have we lost our love for the old Italy?

19/09/2006

Famed for its beautiful rustic homes, Italy is changing and there is now a growing demand for brand new builds.

According to Linda Travella of Casa Travella, the needs of UK buyers in Italy are definitely changing, so much so that a pattern is emerging.

“I have been selling properties in Italy for over 20 years and when I first started buyers were looking for the traditional farm house in need of renovation with a couple of acres and a few olive trees,” said Linda. “Whilst there is still a market for this type of property – and there are plenty from which to choose – there has been a marked increase in the demand for new homes which require no work and are ready for immediate occupation”.

With failing pensions in the UK and a different attitude towards investment, buyers are looking to purchase not only as a holiday home but as a way of achieving a rental return and capital growth.

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Basilicata is a place which is rapidly growing in popularity. Located in the Southern part of the country it experiences Mediterranean style weather and is easily accessible with direct flights from the UK.

Currently available through Casa Travella are beautiful homes at Lido di Metaponto, an exciting development that has featured on ITV's television, major property programme, “I Want that House”.

These highly distinctive two and three bedroom properties are painted in exotic Mediterranean colours of azure blue, deep terracotta and bright sun reflecting white. Built to resemble a residential village in terms of layout each group of apartments has its own pool. The village offers bars, restaurants, a grocery store, and boutiques plus a disco. There is also a large communal pool. Prices start from £80,000 for a two bedroom apartment and £122,000 for a three bedroom home.

“Other parts of Italy too are looking at new builds although it is nowhere as prolific as the Spanish Costas, residences tend to be much smaller, with 12 property groups much more likely than the groups of 50 or 100 found frequently in Spain”, adds Linda Travella. “The Italian government has taken note of what people want and although new build are increasingly popular, they are being careful not to allow over build which would inevitably spoil the unique landscape.

“We are finding that Southern Le Marche is a popular area and the lakes will always command interest and here too we have some exceptionally attractively priced new build.”