Farmhouses in Le Marche are back in favour!
It seems that buying and restoring farmhouses and country houses is back in vogue in the Le Marche property market this summer. I must admit that I thought UK buyers had deserted this particular sector in favour of apartments and village houses, but the market seems to be changing very quickly in their favour.
In the first four or five months of 2008 most of the enquiries from clients and the subsequent viewings were mainly for village houses in the southern part of Le Marche. However since the middle of May I have received many more enquires about farmhouses with or without land, but only a relatively small number of enquiries for townhouses.
I believe the Italian property market is definitely slowing down, which is really not surprising given the credit crunch, strong Euro and economic problems in the US and increasingly in the UK. But I have found that enquiries have not decreased by the amount that I had thought might happen earlier on this year. I still see a strong demand for property in Le Marche from UK clients, but I also have clients visiting from South Africa, New Zealand, Australia, USA, Canada, Holland, Norway, Ireland and a few Italians from northern Italy. Many potential purchasers especially from the UK are now looking to change the direction of their life completely and want to sell up in the UK and move to Italy permanently, some to retire and others to buy properties suitable for holiday lettings and bed and breakfast.
I think that these factors have led to the renewed increase in interest in larger farmhouses in Le Marche, and properties in good positions and with excellent views are again in demand.
There is a belief amongst local agents that most of the better country houses have already been sold during the very strong housing market in Le Marche of the past five years. I tend to agree with this view in part, but I believe that as there are still several thousand farmhouses and country houses for sale all over Le Marche it is still possible to find a great property but it will just take a lot more time and effort to track them down. It is important to spend time visiting the different areas of Le Marche to get a feel for the different regions. My favourite area of Le Marche is in the south , especially the area between the coast at Porto san Giorgio and Cupra Marittima and inland to the villages of Monterubbiano and Carassai.
Others prefer the central region of Le Marche and the area between Arcevia, Ostra Vetere and the beautiful coastal resort of Senigallia.
I do believe farmhouses and country properties in Le Marche still offer great value for money when compared to similar sized properties in the UK market. A four bedroom, two bathroom farmhouse with one hectare or just over two and a half acres would still only cost around three hundred thousand euros or two hundred and thirty thousand pounds sterling when completely restored and including a swimming pool.
But there is a huge misconception with UK buyers, that restoration and building costs in Italy are much lower than in the UK, and while costs are slightly lower it is usually by only ten or twenty percent.
So if you are looking for Italian property then check out the houses for sale in Le Marche then pay the area a visit. Le March still can offer buyers large number of beautiful farmhouses in need of restoration and once these properties are restored they will make truly beautiful and comfortable homes.
About the Author: Dermott Sales is a UK based expert in property for sale in Le Marche Italy. Please contact him on +44 (0)7885 773 433 (UK), 0039 3343256597 (Italy)
More articles by Graham Drage
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