Venice in Italy is one of the world’s most enchanting cities thanks to the almost fairytale allure of landmarks such as St Mark’s Basilica and Square, the Palazzo Ducale, the Grand Canal and the Bridge of Sighs.
This is understandably one of the most desirable places in which to own a property in Italy. Yet with prices of apartments in St Mark’s Square, for instance, routinely changing hands for US$9.75million, many investors have shied away from buying real estate in Venice. As have many locals, in truth, and since the 1950s the city’s population has shrunk by two-thirds to its present 60,000.
Yet there are highly affordable and profitable investment opportunities to be snapped up here – if you look in the right parts of the city. One such area is Dorsoduro, one of Venice’s six sestieri (districts) and a short vaporetto boat ride from St Mark’s Square. Here, just US$360,000 can buy a small, well-appointed apartment. Dorsoduro lacks nothing in upmarket chic as it is home to the Accademia art gallery, the Peggy Guggenheim Museum and a recently opened Punta della Dogana Museum, a major collection of contemporary art on the site of an old 17th century customs house.
Yet it is also a lively, vibrant area – the Ca’ Foscari University is here – and after dark Dorsoduro’s bars and cafés form the centre of Venice’s nightlife. To get more bang for your investment buck, head for the even more affordable Castello, Venice’s largest district, which lies just to the east of St Mark’s Square but is slightly off the well-trodden tourist trail. Here, expect to pay around US$415,000 for a two-bedroom apartment of around 75-80sq m.
The rental yield of property in Venice remains huge. Some 20 million visitors a year beat a path to the city, for its historic architectural splendour as well as popular events such as the carnival in February/March; the Biennale arts festival in summer and autumn; and the Venice Film Festival in August/September. It means there is demand for rental properties almost all year round. In high season, a one-bedroom apartment can fetch from US$1,700 a week, a two-bedroom property around US$2,600 and the most prestigious properties US$8,000-plus.
Alternatively, look farther afield to the outlying isles among the 118 that make up the Venetian archipelago. In Burano, six miles outside the city centre, US$625,000 can secure a house rather than just an apartment. The nearby islands of Tellestrina Chioggia and Torcello are also worth a look. Bear in mind that rental yield will fall the further away from the centre of Venice in which you are.
Another popular option is to look beyond Venice and to the historic towns and cities within the Veneto region, some 45 minutes away by train. They include Verona, one of Veneto’s principal tourist and cultural destinations; Vicenza, a Unesco World Heritage Site; Padova, a lively, attractive and historic university city; and Treviso, renowned for its wine and cuisine. In Treviso and Vicenza, expect to pay around US$350,000 for a two-bedroom town centre apartment.
Padova is possibly the priciest of these towns and an 80sq m two-bedroom apartment will frequently come with a price tag of around US$550,000. Obviously the price falls considerably if you are prepared to take on a restoration project. Explore the surrounding countryside, where in places such as the spa resort of Abano Terme US$350,000 can stretch to a spacious three-bedroom home.
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AUTHOR BIO
Adriana Giglioli works for Homes and Villas Abroad.com, which showcases 2,500 properties for sale in Italy. Her specialist area is property in Calabria.
Very good post for Most Romantic City Property opportunities
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Venice would be absolutely amazing. We live in the Scottsdale area and sometimes make it to the Venetian in Vegas a few times a year. Lol. I can’t imagine what the real thing would be like.
Any chance you might update this post for current economic conditions in Venice? For instance, is the rental yield just as strong as it was? Thanks.
Venice are great I always dreamed to live there..
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Venice is on my list of places to visit! I think this city would be absolutely beautiful. I don’t think I could live there, just like many other cities around the world. Some are just better to visit than live. Great blog!
Cant wait to get over to that part of the world. Thanks for the great post!
Joe
Went to Venice last year. A trip that I will never forget for sure. Great country with great people!!!
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Italy….hmmm..for this kind of money ?
I would move to more exotic places.
I agreee on Italy , specially Venice being a romantic destination too , but there more places you should discover such as ISTANBUL 🙂 Love, business , history all at the same time!
Hi guys. Indeed that Venice is one of the most romantic place on Earth and Italy’s ancient structures says it all. By the way, I found this link and I find it interesting. Anyone who’s interested, check it out at http://condominiums.net.ph. Thanks and may you have a pleasant day.
I would like to more exotic places.
Tom
Ravenshoe Real Estate
ravenshoerealestate.com.au
Great Blog! Thanks for posting
Truly enjoyed the post. Informative and useful
Your post will definitely lure the property lovers ;). Venice is a place to enjoy and live and thanks for the post! I enjoyed the post entirely and wish you get the visitors quickly.
No Doubt Venice is very beautiful city.
this information was good.
Seattle Real Estate
Now I want to go to Venice and see it!
yah once of my favorite place Venice. thanks for this information Fairbanks Moving
This information was very nice.
This was a great blog and Venice is such a beautiful city. If you haven’t been you should put it on your list to go to next!
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John Tester
Hi, This sounds great! A great investment indeed from one of the romantic city in the world. I hope I could get one. I would love to have a queensland property investment though. I was reading property investment blog when I saw this SelectInvestmentProperty site. I would say this is very useful and worth visiting. I was impressed on how they would give you financial freedom on your investment. A property investment Sydney is not that shabby at all. This may be as romantic as Venice but a great business center. I would love to own either one of this property in the future. Thank you for this post and keep it up!
Looks good I wish I had some money to put in. i was there 4 months ago.
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It’s all just a matter of knowing where to look. However, if you really wanna settle in Venice’s famous places, then it’s really going to cost you big. Nothing big comes in small prices. But, unarguably, Venice is a romantic place.
well, i agree with what i read in my article and before this i have equally read something like thie. bravo to you and keep it up.
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Never had it this good.
Always looking for investment articles . Thanks
Nice information is given. Now a real estate business is booming up well.I agree with you I would love to own property there!
Italy has such a romantic draw to it. The history, the culture, the architecture…who wouldn’t want to own a little piece of it.
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When i read the article i through that the article is about the investment in France but you are right Italy is also a fairly romantic place as France.
Nice Article and great Information Thanks for sharing.
Good thought
Another informative blog… Thank you for sharing it… Best of luck for further endeavor too.
I must really commend you for your well written post on real estate. The article encompasses all the details that one would look for in a real estate related article. Keep doing the good work because one would really love to read more from you.
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great articles on real estate opportunities, find the useful.
great article, keep it up…
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Nice article from you…Greats from Germany.
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This is a good common sense article. Very helpful to one who is just finding the resources about this part. It will certainly help educate me.
You can also get married in Miami !!! The Romance month is coming soon !
I am from San Francisco but now live in Florence Italy.
The breathtakingly beautiful city of Venice, which has a great variety of Venice property for sale, lies in the Veneto region of Italy, and is bordered by the superb mountain ranges of the Dolomites and Alps which offer a wide range of hiking and skiing. To the south lay the serene waters of the Adriatic, famous for its beaches and water pursuits. There is also much Venice property for sale to be found throughout the area.
Venice itself spans 117 islands and the world famous canals are still the most popular method of getting around the city, whether by romantic gondolas or the many water taxis and buses (vaporetti). The canals provide a romantic setting for the numerous bars and restaurants that line the streets of this cosmopolitan city, selling, as you would expect, fare from all around the world, as well as the local specialities of pasta and seafood.
It’s never a bad time to purchase a nice property (Depending on it’s use).
Brad Taylor
Director of Asset Management
SIFF Investment Services
http://www.siffinvestment.con
Yes i agree with you post,its really a good chance investing in a wonderful place…i would love to hear more on this from you..thank you
As i know, venice is a city of water. Buy a house there and you’ll got drown.