The real estate market in Puglia is expanding. From a year 2000 the demand of properties by Italians and foreigners is steady rising. This trend will continue, particularly Puglia will receive buyers coming from countries that didn’t know this region till now.
If one makes a careful research it is possible find good chances in every part of the region. Neverthless there are towns in the Itria Valley, as Ostuni, and Otranto, in Salento, where the prices are high owing to short availability of properties and strong demand by Italians and foreigners.
Some examples are useful in order to know the average prices of the properties. The typical construction in the Apulian country-side, the “trullo”, costs 15,000 euros about per cone, including an arable land of 5,000-10,000 sq.m., if it needs restoration.
On the contrary, for a more common cottage of recent construction, still in the country-side, with two or three bedrooms, arable land annexed, the price varies from 100,000 to 130,000 euros.
For the typical cross vault house with a small garden, situated in a peaceful hamlet in the southern part of Salento, prices varies from 7,000 to 10,000 euros (per room, to be restored).
It would be better purchasing properties to be restored because they can be personalise, costs of renovation are reasonable, there are skilful craftsmen knowing the traditional work methods.
When one buy a property located in a country he needs to verify the area in which (the property) stands is not subjected to landscape or hydrogeologic bonds, otherwise is not possible to enlarge the building.
On the contrary, in many historical centres, one needs to comply with regulations established by the Town Council, during the renovation (for example, the façade of the house can be painted only by some colours).
The request of properties to be rented is concentrated mostly in definite areas: the Adriatic and Ionian coast, particularly the Salento and the Gargano, the towns of the southern part of Salentina Peninsula, the Valle d’Itria, cities of art as Lecce.
The request of houses to be rented is concentrated during summertime. Therefore renting a house to someone is possible to realize good profits. Moreover one can utilize the property in other seasons due to the mildness of the climate and aerial connections always active.
It is possible to distinguish the purchasers according to the areas where they are buying. The highest concentration of British citizens is recorded in Valle d’Itria. On the contrary, the southern part of the Salentina Peninsula has purchasers coming from North Italy, France, Germany, Switzerland and USA. They are buying mainly properties to be utilized for vacations but, a great number of them are settling definitively in Puglia because they appreciate the quality of life.
There are purchasers coming from Russia also, searching for prestige real estates and high cost. Probably, very shortly we will see some wealthy Indian or Chinese… Don’t worry about: Puglia is by tradition a bridge between East and West.
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