In Italy, one million euros doesn’t just buy you an impressive property but an extravagant Italian lifestyle and beautiful surroundings too. So, whether you have a bulging budget or are simply window shopping, we take a look at what one million euros would buy you in some of the most sought-after areas of Italy.
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Why buy in Italy?
Whether you love the high fashion in Milan, the Roman history in Rome, the art in Florence or the rolling hills of Tuscany, there is something to excite everyone. Italy draws you in and you can’t help falling in love with its charms.
The cuisine is always fresh and delicious, the wine is superb and dining outdoors with stunning scenery offers that “feel good” factor that is, in our opinion, priceless.
1. It is loved by the rich and famous
The rich and famous have been buying luxury property in Italy for centuries, including many world-famous actors and musicians. When asked why, many say the tranquility and privacy offered by Italian homes, and the beauty of the Italian landscape, is unmatched.
What and where do celebrities tend to buy?
George Clooney chose Villa Oleandra on the banks of Lake Como, while Helen Mirren retreats to her Masseria in Puglia after busy weeks of filming. In contrast, Leonardo DiCaprio has opted for an apartment in the heart of Verona’s historic centre.
Many famous musicians also live in Italy – Sting and Ed Sheeran have both found their havens at villas in Tuscany and Umbria, each having sizeable plots with vineyards. Sting’s Il Palagio estate also produces wine, which is bottled and named after his greatest hits.
2. It has good transport links
International transport links to Italy are excellent, whether travelling by air, rail or road.
This gives people with busy careers the opportunity to pop over for a break whenever they can make the time. I have welcomed guests myself who have arrived in Italy looking tired, pale and stressed from their careers, and after a few days of sunshine and relaxation you can see them look so much healthier and ready to face the world again.
3. It is a wonderful place to work
Italy also attracts a great number of foreigners that want to be based in the EU for work.
Legislation and favourable tax incentives encourage many overseas individuals to relocate to Italy for work or to invest in a business. Those seeking a better work life balance are also attracted to the Italian culture and lifestyle.
Where to live in Italy and what will your money buy you?
Living in the city
In central Rome, history is around every corner, from the Roman Empire to the Baroque and the Renaissance. The Eternal City is the home of ‘la dolce vita’ where a little over one million euros will buy you a 3-bedroom apartment in a 17th century building near the Trevi Fountain.
Milan is the economic and financial capital with its northern location offering great access to the rest of Europe. In addition, it is the city of fashion and design, with prestigious homes in Liberty, Neo-classical and modern buildings.
A million euros could buy you an elegant 2-bedroom apartment near the Duomo (Cathedral).
However, these aren’t the only beautiful cities in Italy. Consider also Turin, Genoa, Bologna, Venice and Florence, to name just a few. A million euros would buy you a very large luxury apartment in a central location in many of these cities, and they also have airports close by. An example is this apartment in Florence.
Styles of Italian homes
There are many styles of properties in Italy and it’s rare to find two properties that are the same. This makes it difficult to generalise on price, but we can take a look at what styles of property are available in the region of a million euros (which currently converts to around £855,000 or $1,180,000).
Many people dream of a traditional villa in the countryside, with roman tiled roof, wooden beams, green shutters and terracotta herringbone flooring. For that extra touch of elite elegance there are some that even have frescoed ceilings, like this million euro home near Volterra, which has 12 bedrooms and a pool.
If you love skiing or walking in the mountains, then a beautiful chalet with wooden balconies flowing with flowers makes a charming holiday home amongst stunning scenery. The wooden interiors with carved features create a warm and cosy place to gather with friends after a day of skiing and après-ski in the local village.
Views of stunning mountain scenery are a big bonus, as are being close to a ski lift and local amenities. Take a look at this million euro home with panoramic views of the Dolomites.
Make sure you get the best possible mortgage for your property by talking to your recommended Italian mortgage specialist.
Farmhouses in Tuscany continue to be very sought after.
While they may be surrounded by farm land, they don’t all come with agricultural land to look after. While maintaining the character features of wooden beams and terracotta flooring, you can still enjoy modern facilities and a swimming pool. A million euros can buy you a detached farmhouse with large garden and pool, like this renovated farmhouse near Asciano.
The Italian Lakes are so scenic that they attract visitors all-year-round to enjoy the beautiful natural surroundings. As well as being wonderful for water sport enthusiasts, there are many other sports to be enjoyed in these areas, such as golf, horse riding, cycling, hiking and skiing.
Properties on Lake Como, Garda and Maggiore in particular attract good holiday rental returns for those that invest in property here. These idyllic lakes and mountains have attracted visitors since the times of the Roman Empire, inspiring writers, poets, and musicians.
At Lake Como, one million euros could buy you 3-bedroom apartment on the waters edge with a mooring. If you want panoramic lake views, but don’t need to be on the waters edge you could buy a house further back with even more space.
At Lake Garda, this 4-bedroom property with a garden and lake views has an asking price of €1,200,000.
Sea view properties that are for sale can be hard to find. They often get snapped up by the Italians, and who can blame them! However, if you know what area you want to buy in and contact a local estate agent, you may be lucky. This modern sea view apartment in Taormina, on the Island of Sicily is advertised at just €755,000.
Palazzo in town
A Palazzo is a grand town house, often found in the historic centres of towns and villages. These grand houses were historically owned by noble families and may contain vaulted ceilings, wine cellars and impressive entrances and courtyards.
A large Palazzo, even when needing restoration, can cost over a million. Like this 70-roomed property in a hill town near Trasimeno Lake in Umbria. However, there are locations where lower prices can be found, especially if you are willing to do some renovation.
If you like properties full of character then look out for castles, towers, water mills, art nouveau villas, trulli and Masserie.
Close to Bologna this tower is set in beautiful park land and has an asking price under a million euros. Or, if you want a property that will also generate an income, check out this complex of Trulli in Puglia or this 700m2 Masseria for 900,000 euros. This type of large Masseria can be transformed into a stunning luxury home or hotel.