Abruzzo – the region where you can still buy a farmhouse for under £100,000
September 28th 2008
Homes in Italy have some great gems in Abruzzo and neighbouring but little known Molise...
Abruzzo may have been passed over by many overseas homebuyers but in a changing marketplace, this region offers value for money and great investment potential.
Abruzzo is a truly unspoilt treasure and is recognised by the EU as a ‘green region’ due to the fact that nearly 35% of the territory is protected by either national parks, regional parks or nature reserves. The region is extraordinarily beautiful, reminiscent of Tuscany in many parts with rolling hills and vineyards.
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 / 5, it has never seemed to quite make it in the same league as Umbria, Le Marche and has been completely bypassed by Puglia further south.
All this may change over the next couple of years, as the Euro has reduced many house hunters budgets and Abruzzo is again starting to feature on the media radar and attracting some very favourable coverage, not only in the UK press but also in other European countries as a region to keep an eye on.
The development of Pescara and Ancona airports has improved visitors to the area but the best skiing in southern Italy (more than 20 resorts), the wonderful Sasso national park (great for trekking, horse riding, cycling, skiing etc) and some of the cleanest beaches in Italy has so far been a little lost on overseas tourism. Italians continue to lap up the region and travel from miles around to soak up the clean air and be surrounded by beautiful scenery and friendly locals at a fraction of the price of neighbouring regions of Lazio, Umbria and Tuscany.
Towns such as Chieti, Penne, Atri recapture the Italian renaissance and there are numerous walled towns with beautiful piazzas and monuments to rival other regions. The coastal towns of Ortona and Vasto are particularly lovely, with the dramatic backdrop of the Adriatic.
What is on the market?
As you would imagine, like neighbouring Le Marche and Umbria a few years ago, there are plenty of old properties and small village properties requiring refurbishment. Prices for a farmhouse requiring complete renovation start from as little as 50,000 eur.
Many of these properties have been inherited and sold on by the family but purchasers need to bear in mind that for a complete rebuild, you will be looking at between 850 and 950 eur per sq.m.
If DIY is not for you, then you can find a fully renovated property for as little as 100.000 and keep some change from the transaction!
For those looking for easy maintenance, there are quaint village properties similar to those in northern Tuscany but at a fraction of the price. You can pick up a habitable 2 bed property from 50,000 eur.
Here are a few examples currently on our website:
http://www.homesinitaly.co.uk/smx/search/property/2305/ - great village property requiring internal refurbishment. Only 55.000 eur!
http://www.homesinitaly.co.uk/smx/search/property/2428/ - gorgeous cottage, 20 mins from the sea with panoramic views requiring renovation. 55.000 eur.
http://www.homesinitaly.co.uk/smx/search/property/2485/ - Structurally sound property requiring work; 20 from the sea and 30 mins from Pescara airport! 65.000 eur.
http://www.homesinitaly.co.uk/smx/search/property/2429/ - habitable 3 bed house with garden, requiring some decoration. 80.000 eur
Would Abruzzo suit me?
Abruzzo is often an overlooked region but what it offers is a real taste of Italy. Well, if you still have dreams of finding an idyllic farmhouse under £100,000 then this is the place for you. If you are interested in buzzing towns and exciting nightlife then it is not. Its perfect for those looking for a relaxing and rural lifestyle, living or at least visiting ‘local’ towns and tasting the real Italian lifestyle. Its the perfect region for those seeking open spaces, nature, outdoor pursuits and a good investment; It is certainly a great destination to invest in spite of the current climate and if potential buyers can hold onto the property for a few years, they are certainly going to see a good return on investment.
And if you are still looking for a bargain or a bolt hold in Italy, then why not combine a visit to Abruzzo with neighbouring Molise, where the budget will stretch even further……
And what about Molise?
If you haven’t read much about Abruzzo, then you will certainly have seen nothing on Molise. This hidden gem of a region was part of Abruzzo until 1963 (Abruzzi e Molise). Located to the south of Abruzzo with Puglia below and Campania to the West, the region offers large expanses of unspoiled beaches, a relative lack of congestion, and the gentle pace of life. Few foreigners venture into this region. Moving into the countryside, you will find that the region is sparely populated, rural and a farming haven (olive oil and wine) and a gastro heaven - you can expect the region to stay this way for some time yet. Its quiet and serene with great charm and an authenticity and above all, you can find property at a steal! House prices are currently very low and local building labour is very cheap. Here are a few options on our website:
http://www.homesinitaly.co.uk/smx/search/property/2409/ - village property requiring internal maintenance. Less expensive than some people pay on a car: 25.000 eur!
http://www.homesinitaly.co.uk/smx/search/property/2377/ - gorgeous 3 bed countryside character property with open views - a steal! 95.000 eur.
http://www.homesinitaly.co.uk/smx/search/property/2391/ - great project: Large farmhouse to restore with sea and mountain views. 95.000 eur.
http://www.homesinitaly.co.uk/smx/search/property/2432/ - keys in hand? this gorgeous 2 bed villa is the perfect Italian retreat at only 155.000 eur.
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