Province of Veneto: where and why is it worth buying property
Veneto is one of the richest and most popular regions of Italy, where not only local residents, but also foreigners seek to acquire real estate – that’s why the housing market has survived even during the crisis.
After the onset of 2008, the cost of Italian housing fell sharply, mainly due to the global financial crisis. According to the European Central Bank, real estate prices fell by about 17.5% (including inflation by 25.1%) from the 3rd quarter of 2008 to the 4th quarter of 2017.
However, now there are promising signals of a gradual recovery of the Italian real estate market in the near future – for example, in 2018 Italian real estate fell by only 0.4%, the number of transactions continues to grow steadily. At the same time, housing prices in cities are already starting to rise, while in rural areas they are still falling.
An absolute benchmark in the world of Italian real estate is the Veneto region, which is the most economically successful and developed region of Italy. It is located in the north-east of Italy, the capital of the region is the legendary Venice. In the southeast of the Veneto, the waters of the Adriatic Sea are washed, in the northeast the amazing mountain landscapes of the Dolomites open on the border with Austria, in the west is Italy’s largest lake, Garda. Such a variety of natural landscapes – from the sea coast to the mountain peaks – makes Veneto the most popular tourist destination in Italy.
The increased interest from foreign buyers (many of whom were recently tourists) even sometimes begins to embarrass local residents. For example, in the region of Bolzano, sometimes called South Tyrol, adjacent to Veneto, the local leadership was so worried about the massive acquisition of local square meters by foreigners that it imposed restrictions on foreigners and nationals living outside the country from buying houses in the region for holidays , since such increased activity led to an excessive increase in housing prices, which was not affordable for local residents. Let’s not forget that from May 1, 2019, all foreign visitors to Venice will have to pay a tourist fee for the opportunity to see this beautiful city. Thus, we can conclude that every year various kinds of restrictions are introduced for foreigners regarding tourism and the real estate market.
Venice – the capital of Veneto
Venice, the capital of Veneto, is recognized as one of the most romantic and beautiful cities in the world due to its unique location on the islands in the Venice lagoon, which are interconnected by numerous bridges. The entire historical center of Venice with unique architecture is included in the UNESCO World Heritage List.
Demand for real estate in this city always remains high, now the average price of housing in Venice is 2858 euros per sq.m. The city has a high demand for short-term rental of elite housing, which, in addition to round-the-clock tourism, is also explained by the fact that Venice is an important cultural center where Venetian Biennials, film festivals and carnivals attract creative elite from around the world.
For those who are looking for real estate on the sea, the resorts of the Venetian Riviera – Lido di Jesolo, Caorle, Bibione, where housing also has high liquidity, is quickly sold and easily rented, are suitable. In March of this year, the highest price for real estate in the province of Venice was recorded in Jesolo. The average real estate price here is 3005 euros per square meter, followed by Bibione 2993 euros per square meter and Caorle with an indicator of 2579 euros per square meter. The most expensive long-term rental property in the province of Venice is recorded in Cavallino-Treporti – about 62 per sq.m. per month, followed by Bibione – 38.5 euros per square meter and Jesolo – 17.2 euros per square meter
Veneto Mountains – the most expensive Italian property
In the north of the Veneto region, surrounded by the Dolomites, is the province of Belluno, bordering Austria. A significant part of the province is occupied by mountains, attracting many tourists. In the province of Belluno, there is the most expensive real estate in Veneto, the average price for buying a house in March 2019 was 3480 per sq.m. In addition, here are the highest prices for long-term rental housing, in March of this year, the average price per sq. M was 16.6 euros per month.
The most fashionable ski resort of the Dolomites of Cortina d’Ampezzo is the only Italian resort that is included in the prestigious group of the best alpine resorts Best of the Alps. In Cortina d’Ampezzo, the World Cups in alpine skiing, bobsledding, skiing are regularly held, and in 1956, the Winter Olympics were held in the city. Cortina d’Ampezzo is not without reason considered a pearl of the Dolomites for its unique picturesque beauty.