Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

INNER CITY LIFE – DEMAND FOR ITALIAN URBAN LIVING SOARS
2014 05 11 07.07.35 LR

Published : , on

  • Italian property market saw 3.6% increase in buying and selling in Q3 2014 (Italian Revenue Service)
  • City living is leading the market’s revival (Knight Frank)
  • Own a luxury urban holiday home for £65,000 (Appassionata)

“Holidaymakers don’t want to see only Italy’s touristy areas anymore. They want to experience real life – to immerse themselves in the country and its way of life, to eat where the locals eat, to feel part of the town they are staying in.”

For Dawn Cavanagh-Hobbs, founder of fractional ownership company Appassionata, this has been a learning experience. Appassionata’s first two fractional holiday homes, where owners buy a one tenth share of the property and use it for five weeks per year, were located in rural Le Marche. The properties offer the ultimate in luxury rural Italian living, including pools, a tennis court and a working estate producing its own wine and olive oil.

“I was surprised by just how much the owners wanted to embrace the true Italian lifestyle,” comments Dawn. “Of course they enjoyed sunning themselves on the beach and skiing in the mountains, but they seemed just as delighted – if not more so – with buying fresh fish from the local fishermen early in the morning and learning how to make pasta with a local chef. They wanted to embrace Italy in a totally different way.”

It was owners’ feedback that guided the location of Appassionata’s third property, the urban fractional holiday home Casa Tre Archi, in the medieval hilltop town of Petritoli. The three bedroom, three bathroom house with large roof terrace is perfectly located for owners who want to experience urban Italy, from sipping coffee in a piazza to the sound of church bells tolling, to heading to the fruit and veg market to pick out locally grown produce that’s bursting with flavour.

The trend is reflected in official figures, with the Italian Revenue Service reporting a sharp upturn in the country’s buying and selling rates in Q3 2014, an increase of 3.6%. The buying and selling of urban properties was the main driver of the upturn, in line with feedback from Rupert Fawcett (one of Knight Frank’s Italian team partners) in November, who commented that, “there has been increased interest this year in city living.”

Fawcett’s observation was that buyers from the UK and US were leading the charge. Certainly this has been the case with Appassionata’s properties, though they also have owners from South Africa, Switzerland, Scotland, Ireland, France and of course Italy itself.

A one tenth share of Casa Tre Archi can be purchased for just £65,000 and it is this low price point that adds to the property’s attractions, as Dawn explains,

“The beauty of factional ownership is that buyers can get so much more for their money than if they were buying a second home outright. Given that the average second home owner is unlikely to use it for more than a few weeks a year anyway, fractional ownership makes perfect sense. Our owners arrive to find their home ready for use and never have to worry about the upkeep of the garden or minor repairs – it is the ultimate in relaxing holiday experiences.”

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post