The real estate market in Lake Trasimeno

The real estate market in Lake Trasimeno

Great Estate Network Jan 27, 2014 No Comments
Chiara Peppicelli, Italian Property Consultant and colleagues of Great Estate & Chesterton real estate group, tells us how the real estate market in Lake Trasimeno area is fairing

“Right from last year, but especially this year’, I’ve had several requests for two distinct types of farmhouses, ones already renovated, around 250-300 square metres, with 1/2 acres of land, situated in a pleasant location, with an overall budget of 500-700,000 Euros or farmhouses in need of restoration, medium-sized, with a little surrounding land, perhaps with a lake view.

In this regard I would say that it is not so easy to find such property in this area, that is, having a direct view of the lake, and this due to the geology around the lake, which is gently hilly and often flat; ultimately a real lake view can be seen from apartments in the historic centre, but these are rare as are those for sale and even more so for those that reflect the demands of our international clients!

Returning to the most popular types of properties, I am in personal contact with some of my colleagues who deal with the management of international clients who are particularly interested in renovated farmhouses described above. The issue is, as in many other areas, to have the property sold at a market price. Often it is difficult to convince the owners to lower the selling price when the results are slow in coming and the properties are more visually appealing.

Among the various properties I think will probably be sold in the course of the year, is a farmhouse named ‘Poggia del Papa’, which has an “English cottage” feel to it, with a historic soul. Built in red brick at the end of 1600’s, and with a characteristic dovecote tower, is a significant size, about 500 square metres plus two outbuildings, partially renovated, with a small part that is habitable, requires work that could potentially be carried out to the particular specifications of the buyer. In addition, the layout and its interior would lend itself to the creation of a B & B, requests of which continue not only from international clients, but also from Italians.

In conclusion, I believe that in 2014 the Lake Trasimeno area will be able to sell farmhouses with a budget of between 500-700,000 Euros which, although not located in neighboring Tuscany, possess most of the structural characteristics of our “neighbours”.

The one difference being in price with Umbria having more buyer friendly prices. For Umbria to be competitive with Tuscany, from the point of view of the luxury real estate market, it has to be cost-effective in terms of price!

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