Martino Tirelli of Coldwell Banker-Gruppo Tirelli claims that the property market in Città della Pieve, has grown in the last 20 years: ‘foreign interest has always been focused on Tuscany, but the increase in prices there has prompted many people to look at Umbria. Città della Pieve is certainly strategically placed and is nearby to well-known places like Cetona, Montepulciano, San Casciano dei bagni and the entire Val D’Orcia. Farmhouses are seeing the greatest interest. The panoramic location of Città della Pieve, overlooking the Valdichiana and Monte Cetona, make this whole rural area exceptional. Precisely because of the splendid views, properties in the old town overlooking the valley are selling like hotcakes, with prices per square metre touching €2500. For renovated farmhouses, the offering is much varied depending on their level of renovation. As a general rule, those considered ‘turnkey’, with a swimming pool, are on the market from 4000 euro per square metre. Other investment solutions, which are attracting international attention, are old villages that have been partially or totally abandoned. In Umbria, the renovation of clusters of older houses by foreign investors is more frequent, for the construction of luxury accommodation. Salci, in the Città della Pieve region stands out, a wonderful medieval building of 6700 square metres, the history of which can be traced back to 1243, with a castle, guesthouse and 43 hectares of land, is being sold by our group’. Gabriele Carratelli, CEO of Carratelli Real Estate Srl explains: ‘Clients purchasing in the Città della Pieve area are definitely still mostly foreign (70%), with an increasing number of Italians in the last 12 months. Città della Pieve is certainly of interest to investors because prices are lower than in neighbouring Tuscany. The greatest percentage of clients are looking for a castle or an already perfectly renovated apartment. So Carratelli Real Estate has established Carratelli Engineering, which deals with both construction, design and renovation. We are able to follow all post-sale processes (and in some cases also pre-sale, through documentary checks and due diligence) ensuring clients precise timescales, cost estimates, and constant monitoring of their investment. Our staff is multilingual, including some native speakers, so that our clients feel completely at ease. Prices are increasing, but you can still buy an apartment in the old town for between 1100 and 1400 euro per square metre, and a farmhouse in the country for between 1500 and 1700 euro per square metre. Prices reach 2500 to 3000 euro per square metre for exclusive locations'. Stefano Petri, president of Great Estate, last year sold six properties in Città della Pieve, also recording increased interest this year, but claims that prices have remained stable in comparison to the last two years (they were in decline over the previous decade). And he concludes: ‘The average cost of a renovated farmhouse is more than 800 thousand euro. We are seeing that, unlike in the past, many Italians are showing interest in living in these areas for at least six months of the year’. One way of getting to know Città della Pieve and Umbria is to rent a holiday home and the leading company in this sector (which is now operating in almost every region of Italy) is Emma Villas.
Published on Ville&Casali March 2022
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