AN AFFAIR IN ITALY: SHORT-TERM VISITS ON THE RISE AS BUYERS LOOK TO PURCHASE WITH LESS COMMITMENT

  • Foreign visitor arrivals to Italy grow from 42 to more than 50 million (2008 – 2014 (Confturismo-Confocommercio)
  • Italian visitors stay for 3.7 days on average, compared to 5.1 days in Spain (Confturismo-Confocommercio)
  • Fractional ownership the perfect answer to the growing demand for shorter holiday stays (Appassionata)

For as long as can be remembered, Italy has been synonymous with love, associated with passion and is the go-to destination for romance, wooing a loved one and falling head over heels. It is for this reason – alongside the warmth of the locals, the breathtaking scenery, compelling history, and expressive culture – that it often makes the number one spot in lists of top honeymoon destinations in Europe, and often the world.

Yet with proposals a plenty at locations such as the Fontana di Trevi in Rome or the Ponte di Rialto in Venice, and the CostieraAmalfitana drawing those looking to stage the most romantic of weddings, interestingly a new trend has begun to emerge that reveals that growing numbers of people are now in fact choosing Italy as the location with which to have a part-time affair.

The Confturismo-Confocommercio has released figures that show that whilst the number of tourists visiting Italy are booming, growing from a 2008 figure of 42 million foreign visitor arrivals to more than 50 million in 2014, far outpacing the growth of other popular European travel destinations such as Spain and France, the number of days that visitors are staying are less. While visitors spend an average of 5.1 days in Spain, Italian visitors stay for 3.7 days on average, meaning that more and more people are looking to the country of amore for a part-time love affair.

Dawn Cavanagh-Hobbs, Founder of Appassionata, a fractional ownership company in Italy’s Le Marche region, agrees that they have also seen evidence of this new trend,

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dreamstime“Fractional ownership is the perfect answer to the growing demand for shorter holiday stays, whether it is because time is today at more of a premium for people due to family or work commitments or due to budget constraints, and we have certainly seen this in the growing number of enquiries we have had in the past three months.

“Always a popular second home destination, Italy is drawing more and more visitors year-on-year and those that visit want to make the very most of their precious time. Fractional ownership, where people purchase a share in a property that gives them a set amount of usage annually, suits this ideally as it provides value for money and also a property that is ready to host owners, fully equipped and offering all the benefits of home ownership but without the commitment.”

Appassionata’s latest project, the beautiful town house Casa Tre Archi situated in the stunning hilltop town of Petritoli in Le Marche, offers just this kind of part-time commitment, perfect for those who have fallen for Italy’s charms yet only wish to make her their beautiful part-time mistress.

The three bedroom property which boasts a stunning roof terrace and close proximity to authentic, award-winning restaurants, makes part of the ancient town wall an exposed feature in the lounge, giving the property character and Italian charm. The property is diligently managed throughout the year, meaning that not only is it a more affordable holiday home option but owners also do not have to worry about maintenance constraints usually associated with full property ownership.

Ownership of a fraction in Casa Tre Archi provides five weeks usage on an annual basis, allocated via a system that ensures fair distribution, and unlike a timeshare scheme gives buyers the ability to sell, will, transfer or place in a trust their ownership at any time and also to benefit from the appreciation in value of the property over time.

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