Venice is recognized worldwide as an extraordinary place, bursting with charm and appeal. With such characteristics, the real estate market here is quite attractive, above all for foreigners who are seduced by the cities unique charisma. The French prove to be the principal buyers, followed by the Russians, Germans, Swiss and northern Europeans. The English are more veered toward Tuscany, while the Chinese remain hesitant and continue to assess the situation.
There are two main details taken into consideration by the majority of prospective buyers. Firstly, views from the property are a vital factor. Secondly, it is important that the property has been recently refurbished, from the ground up.
The most sought-after, and therefore expensive areas in the magical gondola city are San Marco and Dorsoduro. Prices range from around 2,900 euro per square meter to 4,700 euro per square meter in the center. The price of an average residence is around 300 thousand euro. The area along the Grand Canal houses the most luxurious buildings. Cannaregio is defined as the neighborhood which beholds the Venetian spirit at its strongest.
There are a wide range of property types for sale in Venice. Variations include refurbished buildings, in which a studio apartment of 60 square meters costs from around 600 thousand euro to 1 million for a 70 square meter apartment. Prices drop as you move toward Cannaregio, that said the properties here aren’t in great shape. Consequently buying here is less appealing.
There are various buildings that take you back to the splendor of ancient Venice, for example Palazzo Vendramin Costa a Cannaregio. Reconstruction work is to be carried out here from the foundations upwards, in order to create thirteen luxurious apartments in Venice. The high-end apartments shall vary in size, each finished to the highest of standards, with prices ranging from 650 thousand to 4.5 million euro.
The original style of the building shall be respected throughout the redevelopment process, while introducing modern elements, such as a lift, without taking away from the original beauty of the structure.