Venice Property Market and Real Estate Guide
(Venice, Veneto, Italy)
The Italian city of Venice is one of the most popular tourist destinations in the world, with stunning architecture, great museums and a sprawling network of picturesque canals. There is also some great shopping in 'the floating city', as well as a bustling commercial centre.
Buying property here can be a great investment, as large returns come to those who choose to rent property to holiday makers. Long-stay rentals are available, however, and the city is home to six areas to choose from, all with varying advantages.
The 'touristiest' areas are in San Marco, Dorsoduro and Castello, where it is expensive but a good investment to buy. For those looking to stay long term in Venice, San Polo is home to many locals and Cannaregio is close to the main business area.
Like elsewhere in Italy, buying property in Venice can be complicated. This is exacerbated by fears that the flooding in Venice is set to intensify. It is therefore important to get a proper structural survey and it may be wise to choose somewhere away from the water.
Renting Serviced Apartments
There are many different types of serviced accommodation in Venice, from houses to apartments and villas. Most of them cater to the vacation market and can only be rented for short periods at high prices. Some agencies will rent out vacation properties for reduced long-stay rates, so it is always worth checking before you discount this part of the market.
Long-stay apartments geared towards professionals can be found in the Cannaregio and Dorsoduro districts. Most landlords require at least one month's rent as a deposit, a good reference and a bank statement. Serviced apartments usually come fully furnished with a complimentary cleaning service.
Buying Apartments and Houses
Employing a lawyer is essential when buying property in Italy, as the legal process is complicated. An Italian lawyer can organise the deed and title transfers, but it is often also good to employ a lawyer from your own country.
Make sure you know exactly what you're getting when buying a house in Venice, as Italian properties often come with no light fittings or kitchen cabinets. Properties in the touristiest areas are often very expensive, but they do yield good rental values (about six percent). Some bargains can be found in the places plagued by flooding, but these should be approached with caution, as they bring with them a new set of problems.
Real Estate Agents
As buying real estate in Venice is so popular, there are plenty of agents to choose from. Most are used to dealing with foreigners and speak English to a high level. When choosing an agent, look for one who specialises in the area of your choice, whether you are looking to live in Venice or to rent property to tourists. Local agents usually charge at least 10 percent for their fees and sometimes as much as 15 percent.
Check out the following Venice real estate agents:
Address: Via Terraglio 75, Mogliano Veneto, Venice, 31021, Italy
Tel: +39 (0)41 244 8945
Venice Agency buys and sells both affordable and luxury apartments.
Address: San Marco 3911, Venice, 30124, Italy
Tel: +39 (0)41 522 0093
Venice Estates has a large portfolio ranging from palazzo properties to luxury homes.
Address: San Marco 514, Campo della Guerra, Venice, 30124, Italy
Tel: +39 (0)41 520 9747
Giaretta offers a range of properties to buy and rent.