Real Estate Opportunities in the World’s Most Romantic City

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 cafĂ©s 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.

220 thoughts on “Real Estate Opportunities in the World’s Most Romantic City”

  1. Thanks for the beautiful and interesting post. We know Veneto region and we love it. We believe that a beautiful place to stay is Abano Terme a beautiful city Near Venice. We here have found a beautiful property but we can not buy 🙂 http://www.villapalladiana.com
    We visited it and was fascinating!

  2. 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.

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  4. 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!

  5. 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!

  6. 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.

  7. 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!

  8. 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.

  9. 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.

  10. Thank you for taking the time to write this article. Neighborhood information is important when researching a real estate market. If you would like more research please visit my website http://www.repeatproperty.com, I have properties listed in most Cities & States in the country. Thanks, Dave

  11. 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.

  12. 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

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