Lake Garda is driving purchases in Valpolicella

Countryside

Lake Garda is driving purchases in Valpolicella

Lower prices and the demand for rural homes with vineyards are attracting increasing numbers of people from Verona, but also Germans, Austrians, and North Americans

Francesco Gentili, manager of Dimore Gentili, a company that has specialised in villas, historical buildings, and luxury properties for 30 years, tells Ville&Casali that ‘there is an excited search for rural homes and estates with vineyards in Valpolicella, even with smaller plots that could be managed by the large winemaking companies. In fact, vineyards give the property great prestige and value.’ These refer to restored properties, ‘but in a rural, classical key, with all the comforts of the modern home, while being located in the countryside, possibly with a swimming pool, in a hilly area, isolated, but close to the main roads. The size ranges around 400–500 m2.’ Welcome to Valpolicella! ‘The tourism market here is always in turmoil,’ confirm Francesco Savino, the president of FIAIP Verona, and Riccardo Galli, the owner of a real-estate agency in Negrar di Valpolicella. In this municipality in particular, ‘demand exceeds supply due to the presence of the nearby hospital (Editor’s note: considered one of the best in the area). The locations farthest from the town centre are always more appreciated by foreign customers. Instead of staying in the centre of Verona, they prefer the tranquility and panoramas of Valpolicella, thus combining proximity to the various wineries and day trips to Lake Garda or Verona itself.’ In addition to Negrar, the most popular areas are San Pietro in Cariano, including the hamlet of Castelrotto, one of the most spectacular in Valpolicella; San Giorgio, also called ‘Inganna poltron’, and Sant’Ambrogio di Valpolicella. ‘Then there is Marano di Valpolicella, an area with lots of wineries and splendid locations,’ adds the agent. What is the home of your dreams? ‘The most popular properties in Valpolicella have always been the now-rare rustic houses with a bit of garden,’ says Galli. ‘They are now difficult to find even in areas that were once considered “inconvenient”, such as the hamlets outside the main towns. However, properties with a garden, such as ground-floor flats with large terraces, or terraced houses, are always much appreciated. Mid-sized villas are also in demand, while those that are too large are less desirable in most cases.’

The fact that rustic homes and renovated courtyards are the most popular is also confirmed byStefano Bani, License Partner of Engel&Völkers Verona – Bardolino. The most desirable areas include Arbizzano. ‘These are well-connected areas in hilly settings with paths for people who like walks or sport, with unique landscapes rich in wine or culinary experiences.’ Valpolicella is just a stone’s throw from Lake Garda, but it has more accessible prices. ‘Lake Garda has always drawn the Verona market,’ says Gentili, ‘but investors (people from Verona, but also Germans, Austrians, and North Americans) are now moving to the outer areas. It is no coincidence that Affi, a town near the lake, is just a few kilometres from Sant’Ambrogio di Valpolicella on the Milan-Venice route and an hour and a half from the Dolomites.’ Lake Garda, specifically, is where the prices are much higher. Need an example? Marco Argentieri, from Cofim Immobiliare, has a 300-m2, 3-storey villa for sale in Bure, the spectacular hill near San Pietro in Cariano. It was built in 1980 and it comes with a pool, 2-ha park, garage, wine cellar, and view of the vineyards. It costs €550,000, but needs restoration. ‘With the same amount,’ he stresses, ‘you could buy at most 80 m2 on Lake Garda, just 20 minutes from here. Bure is a breezy hill near Negrar with a fantastic microclimate. It is just 20 minutes from the Verona Arena and airport, and an hour and a half from the BrennerPass and Milan.’ The position has convinced those from Milan, Brescia, and Mantua, among others, ‘to buy a home here and commute to work.’ With the increasing cost of materials, newly built properties or those that do not require a lot of intervention are the most appreciated. ‘The new property market exists, but is not very abundant in Valpolicella. At the moment there is little construction,’ continues Galli, who is also an FIAIP associate and stays abreast of the prices. ‘The average budget to purchase older, two-bedroom flats ranges between €170,000 and €200,000. This rises for other types, but rarely above €450,000 or €500,000 for semi- independent properties (two-family homes or large terraced houses) and also rarely exceeds €600,000 to €650,000 for individual homes, which are mostly older properties and must therefore be renovated or retrofitted for energy reasons.’