| Property
in Puglia Puglia
is a fascinating and welcoming place to
visit, but many Britons are now looking
at Puglia with a view to buying property
there. The reasons are clear to
understand – its mediterranean
climate, mild in winter and hot in
summer, and prices which are temptingly
affordable compared with northern Italy
and Tuscany. Add the relaxed lifestyle
and the friendliness of the people here
and you have a prefect recipe for a
holiday home or all-year-round living.
Many
buyers are attracted by the area’s
most distinctive feature – the
trulli. These cone-shaped buildings are
unique to the area. Alberobello is the
trulli capital, with over 1,000 trulli in
the town. The surrounding area, spreading
towards Cisternino, Martina Franca and
Ostuni, is known as the Itria Valley, and
is the most sought-after location for
trulli houses. But bargains can also be
found further afield, where purchase
price and restoration costs can be
substantially less.
The
theory is that trulli are cool in summer
and warm in winter, due to their thick
stone walls. But because their air volume
is larger than a normal room, and unless
they are damp-proofed, they can be
expensive to heat in winter. They can,
though, provide perfect atmospheric
character properties for living in or for
rental.
A
group of trulli for restoration can be
purchased from as low as 30-40,000 euro,
however it is important to understand
that a small group of, say, 3 cones, will
not be able to provide a home without
extension. The amount by which you can
extend a group of cones varies from place
to place – each town has its own
rules – so it is important to
purchase through an agent you trust to
give you accurate information on
development potential.
Habitable
and restored trulli are in demand –
this is an area of the property market in
Puglia which is moving quickly. Whereas
two years ago a habitable property of
three bedrooms including trulli in the
Itria Valley area would have cost about
80,000 euro, today it is hard to find the
same for under 200,000. Budget at least
160,000 for a good two-bedroomed property
in a good area.
Unrestored
trulli provide excellent investment
potential. Although the costs of
restoration and extension can exceed the
original purchase cost, there will
certainly be a leap in the market value
of the property when restored, as
restored trulli are increasingly hard to
find.
It
is also worth considering new build of a
villa or character property as it is not
too difficult to find rural land capable
of providing planning permission, and
construction costs are comparatively low.
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