Increasingly large villas for the international jet set

Sea

Increasingly large villas for the international jet set

Three or four houses offering up to 1,400 square metres of floor space are currently under construction where older villas used to stand, torn down as they no longer met the needs of major investors. A direct flight from Dubai to Olbia opens the door to t

On 22 June, the first ever direct intercontinental flight between Dubai and Olbia, run by Flydubai, took off, with flights scheduled to continue until the end of September. And from 2024, the world’s biggest luxury brands, such as Louis Vuitton, are set to take over the running of such five-star hotels as the Pitrizza (currently a Marriott hotel). This is making the Costa Smeralda even more attractive and raising the bar of high-end luxury. It is no coincidence that the luxury tourist property season “has started extremely well, with overseas and Italian investors alike buying villas worth in excess of €10 million,” explains Carlo Panciroli from the estate agents Immobiliare Del Porto. “The new trend is for 500-1,400-square metre villas boasting stunning panoramic views and offering a master bedroom, two bathrooms and two walk-in wardrobes, two lifts, a goods lift, cellars, often two swimming pools, a spa and a huge living space.” Old villas are being torn down to be replaced by increasingly practical and large homes. It seems that three or four such properties are currently under construction in Porto Cervo. “As such, the old ‘cave-like’ villas are disappearing,” the renowned property expert adds, “unless they were designed by Couelle, because they are true works of art. Materials such as glass, steel, wood and granite now tend to be favoured. In short, a wave of modernity is sweeping the island. Sardinia is attracting many investors from North America and Hong Kong.” In 2024, owners of super villas like those currently under construction could also come from the Middle East as there are now direct flights between Olbia and Dubai.

“As I understand it, the business flights are all completely full,” explains Daniela Ciboddo, License Partner of Engel & Völkers. “This connection could be an important springboard for us to attract an even higher level of clientele in the future. Property prices are starting to reach incredible heights, with the most exclusive properties on the sea front or boasting sea views in Porto Cervo and Porto Rotondo being the most popular.” But these are also the most difficult to find. “Stocks are running increasingly low, especially when it comes to villas, but there is an abundance of 100- to 150-square metre apartments available in Porto Cervo or Pevero,” comments Lorenzo Tanda of Lorenzo immobiliare. “Given the lack of supply, rising prices in 2024 cannot be ruled out. The popularity of the island is growing, with increasing numbers of executives from northern Italy renting villas over the spring and summer to take advantage of remote working.” Paolo Scano from Sardinia Villa Service specialises in rentals of this type, typically homes boasting four or more bedrooms and a swimming pool, including a room for the staff, far from prying eyes. “I have seen a rise in interest from American and British executives since last November,” he declares, “particularly in Cala Granu, near Porto Cervo Marina, as well as further inland, some 30-40 minutes to the coast by car, a distance that does not seem to pose a problem for our overseas visitors. Because our industry is so competitive, we have decided to really pamper our clients. How? For example, by filling their fridge with food and drink for when they arrive, including a case of wine personalised with their name on it.” In Porto Rotondo, which has long been a popular destination among Italians, particularly from the north of the country, “demand for front-line apartments boasting sea views or direct beach access is always high,” explains Luca Bonifaci from Rebhomes. “However, 2-3-bedroom properties ripe for renovation offering 60-80 square metres of floor space in the region of €350,000 - €500,000 are the easiest to find. Demand for villas in Punta Lada in central Porto Rotondo, in the Gulf of Marinella, is also high and currently outstripping supply"