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May 14,2008
 At first glance there may not seem to be much difference between the rolling hills of southern Tuscany and their counterparts across the border in Umbria. The medieval villages in each region are remarkably similar, with stunning ancient churches and castles. But differences there are. In Tuscany, those hills roll down to the wonderful coast, and the less than wonderful tourist crowds. Umbria is quieter but the property prices are also much lower.
Compared with Chiantishire, Umbria hasn't had anything like the boom in tourism. There are reasons for this: Umbria is land-locked while Tuscany has Florence, Siena and Pisa. Yet among the piazzas and palazzos of Umbria's historic and beautiful capital, Perugia, you'll find all manner of cultural and artistic treasures. And the countryside has all the attractions of peaceful rural living.
Paul Belcher of Ultissimo, a British company that sells and restores property in northern Italy, says that people attracted to Umbria tend to fall into two camps: those who love Italian culture and outdoor-types who like the opportunities the countryside has to offer.
"Umbria is not a typical holiday destination in the sense that there's no dead season, like on the coast," he says. "There is a local life year round, and the towns stay busy through winter, but in summer it doesn't get swamped with tourists either." That is good news for anyone tempted to buy a holiday home to rent out.
Prices in the region vary widely, from rural ruins costing under £80,000, to village houses from £100,000, right up to mega-villas worth millions. With £200,000 to £400,000 to spare there is lots of possibility to pick up either a restoration project or something ready to move into.
Umbria is also building a reputation as the best part of Italy in which to build your dream. Tuscany has already been picked over, and there are hardly any quality properties left that are ripe for renovation. Now, if your budget is less than £200,000, you'll have to hunt very hard to find much more than a characterless new-build apartment.
In Umbria, however, you need to be aware that even though you may snap up a farmhouse with half an acre for less than £150,000, you will often have to add at least that amount for restoration work. Then you have to factor in the time and hassle of overseeing the project from the UK, and in another language.
It's for this reason that many agents advise buyers to go for something that's already partially renovated. For around £200,000, you'll be able to get a home that is at least structurally sound, with just interiors to finish, while £270,000 upwards will put you into the league of perfectly habitable to positively palatial.
Because there are so many ruined properties for sale, there are several companies available to project-manage the restoration for you. Penny Radford fell in love with Umbria and moved there 15 years ago to run a guest-cottage business. The lovely restoration work she did on her own property turned into a business and she now takes on renovations for other buyers.
"Umbria's a lot livelier in summer than it used to be, with better restaurants and hotels, and you see more young Italians these days," says Radford. "Property prices have risen too and in some areas I think they are getting quite high."
Paul Belcher's company is currently selling two developments: San Vittorino, near the pretty, medieval town of Gubbio, and Villa Rancale, 30 minutes north of Perugia. Both offer quality, authentic restorations with acres of land, pools and tennis courts. Starting prices for a one-bedroom apartment in San Vittorino are £215,000.
Prices do get higher the nearer you are to Perugia or the beautiful towns of Orvieto and Todi but, according to John Dillon of Italian specialists Realpoint Italy, the best places to find affordable properties are out in the sticks. The stunning countryside around Lake Trasimeno is one area Dillon recommends for properties in the £150,000 to £200,000 bracket; from around £60,000, small houses can still be found in the more isolated villages.
Does he think Umbria is the new Tuscany? "Umbria doesn't promote itself as strongly but with all it has to offer it could easily be a rival."
Buyers' guide
* Planning restrictions in Umbria are tight and when renovating older buildings you can generally only work to the footprint of what is already there. Local authorities may also insist on traditional materials and building techniques in historic properties.
*Prices have been rising at a steady 6 to 10 per cent per annum, depending on location.
* Perugia has a small airport with limited services from the UK, but you can also fly into neighbouring airports at Rome and Florence, which are around a two-hour drive away.
* Italian agents may include their commission in the advertised sales price of the property. They can take up to 20 per cent in some cases, so always check if this is the case.
Source: http://www.independent.co.uk/ |
