Venice is attracting British property investors
February 14, 2012 Leave a comment
In this recession, British property investors have changed their behaviour. They have abandoned emerging markets like Eastern Europe for quality places they know better and appreciate more. Venice, the famous Italian city which combines beauty with tradition, art and culture, is the perfect example for this change of paradigms.
Venice has been attracting tourists for a very long time. Its canals and architecture are an inspiration to many people and the San Marco Piazza, the Doge’s Palace and the Basilica San Marco are known all over the world. Recently, it has also become a favoured spot for foreign property investors, especially British buyers who seek to store their capital in Venetian property since the prices for the luxurious buildings are still rising.
In fact, Venice is the most expensive city in Italy. You can rarely find a central apartment for under a million Euros. Buyers should also be aware of the high restoration costs for old accommodation because everything has to be brought in by boat. But nonetheless Venice is very attractive for investors since it presents a perfect buy-to-let location due to the constant ongoing of popular events all year round. The Carnival in February, the Biennale in June and the Film Festival in September are one of a few occasions when apartments can be rented at a higher price.
Image : flickr / Arian Zwegers