Does Venice Float Your Boat?

It has been revealed that Venice is one of the upcoming property hotspots for overseas investors. Claire Hazle, of Knight Frank’s international desk, has been quoted saying: “British buyers have taken flight to quality during the recession. They will now only look in tried and tested places they know and love. They have moved away from the emerging markets of Eastern Europe which they were interested in a few years ago.”

Venice does, of course, have a lot to offer a holidaymaker; from the San Marco Piazza to the Doge’s Palace, gondoliers to the Basilica San Marco. Venice is undoubtedly one of the finest parts of Europe, with luxury hotels and high quality restaurants. Furthermore, San Marco is the number one region where most would like to buy. It would also be important to remember a holiday home insurance policy when investing in such an area. A beautiful home deserves to be protected.
 
It has been reported that a three bedroom apartment with a small gym, a private canal entrance and views of the Campanile will set prospective buyers back £1.2 million.

Meanwhile, an old fashioned three bedroom apartment with wooden floors, exposed beams and vast bookshelves in the San Samuele area of San Marco costs £960,000, and Ms Hazle has further added: “There is a shortage of new and newly restored property as Venice is naturally a limited market.”

Venice has, unsurprisingly, been highlighted as the most expensive city in Italy by a report from the Italian Economic research institute Nomisima.