The Jewish Chronicle
Irresistible homes in Italy
Luscious new homes are now being created from old stones in Italian sites of specific Jewish interest.
January 23, 2009 12:06
By, Anthea Gerrie
2 min read
Luscious new homes are now being created from old stones in Italian sites of specific Jewish interest.
January 23, 2009 12:06ByAnthea Gerrie, Anthea Gerrie
Luscious new homes are now being created from old stones in Italian sites of specific Jewish interest.
Developer Ultissimo, which just won a CNBC award for the best Italian property restoration, is selling eight properties on the San Vittorino Estate near Gubbio. This town, considered one of the mediaeval jewels of northern Italy, did its bit for Italy’s Jews in the Second World War by refusing to give up the many Resistance fighters hiding in the nearby hills. To boot, the family who own Venice’s divine Gritti Palace Hotel has opened a restaurant in the area with its own vineyard and olive groves.
But of more direct interest to Italophiles will be the chance to move into an ancient agricultural building that has been sympathetically modernised to create an eco-friendly luxury home within easy reach of a championship golf course and spa.
Expect to find everything one loves about ancient Italian interiors, from chestnut beams to terracotta floors and a wealth of reclaimed stone. Seven of the properties have three bedrooms, while the centrepiece is a detached one-bedroom converted chapel with its own 14th century fresco.
All homes will have the latest kitchens - Italian, naturally - stylish, modern bathrooms and a private garden and terrace. The communal facilities include a large heated pool, all-weather tennis court, golf practice area and a jogging and walking trail to help owners make the most of the 120-acre valley site and its far-reaching views of the Appenine peaks.
The six properties still available, which alas do not include the chapel, are on offer for 420,000 to 600,000 euros (about £390,000 to £560,000), representing a discount of approximately 20 per cent of the expected market value when the project completes next spring.
Ultissimo is also developing a site at Lake Como, within easy reach of Milan, which office manager Suzi Walker points out "caters well for the Jewish traveller, with 15 synagogues, Jewish shops, restaurants and even a choice of schools".
At Como, now a perhaps unlikely celebrity haunt, the company is developing both a four-storey villa above the lake and a one-acre site with lakeside views which will accommodate a mix of one- and two-bedroom villas, each with large private terrace.
Two properties remain available for purchase at the development near Rancale which won the company that restoration award. (Rancale is a mediaeval Umbrian hamlet, half an hour from Perugia.)
Il Fornaio, on the market at 399,000 euros (£370,000), has two bedrooms and two bathrooms, while for about an extra £120,000, Il Fico adds a third bedroom. Both have private gardens and access to a communal swimming pool and tennis court.
Paul Belcher, Ultissimo’s managing director, believes Italian property is a safe investment even in these creditcrunched times, given a June 2008 report showing Italian house prices rose steadily at the same 5.4 per cent as the previous year.
Tight planning controls restrict the number of old buildings available for redevelopment in Italy and a pukka land registry system should negate the nightmares that haunted many Brits who bought in southern Spain with unclear title.
Plus there’s that all-important question of demand when it comes to resale; Brits are not likely to drop the dream of a second home in some romantic corner of Italy any time soon.