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From the pancake-flat Po Valley to the majestic golden needles of the Dolomites, from exquisite cities stuffed with art to tranquil, orderly villages, the Veneto is a region with more than its fair share of riches. Venice might grab all the fame (and most of the tourists), but the enchanted island-city is just one of the Veneto’s many highlights. Architecture buffs are thrilled by Vicenza, romantics sigh dreamily over Verona, art-lovers swoon at the displays in Padua… Meanwhile, an abundance of smaller settlements are ringed by ancient walls, sprout fairytale castles, gaze across vineyards or mountains, face the beaches of the blue Adriatic, or are threaded with tiny, Venice-style canals. They all offer a very, very high quality of life.
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The Veneto is a thriving, immensely civilised region with every facility, excellent connections and a thoroughly reliable infrastructure. It’s one of the wealthiest parts of Italy, with an amazing number of industries discreetly tucked away in suburbs and unspoilt city centres. (Local unemployment hovers at a mere 3%.) Perhaps the only unappealing place in the whole region is the Mestre-Marghera conurbation behind Venice, where there is some undeniably unsightly and pollutative heavy industry. |
The terrain of the Veneto presents a little of everything. In its most northerly stretch, the region scrapes the border with Austria. Dolomite vistas and ski resorts are the order of the day up here (although the highest peaks are not here but in neighbouring Trentino-Alto Adige). Heading south, the mountains melt into gentle hills before finally giving way to the vast flatlands flanking the Adige and Po rivers. The Veneto’s eastern edge trails along the fine beaches of the Adriatic, while its western tip takes in half of Lake Garda.
| Such geographical diversity means varying climatic conditions. While its coastal zone has a maritime climate with hot, humid summers and wet, foggy winters, the Veneto’s more mountainous parts experience continental, Alpine weather. One thing that’s always warm, however, is the local welcome. |
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Outside Venice, the Veneto doesn’t see many British ex-pats, and what few there are find themselves quickly embraced. Austrians and Germans are the more usual incomers. Indeed, the region was under Austrian rule for many decades from the 19th to early 20th centuries, and the highly-industrious, pale-skinned local population show all the signs of this cultural intermingling.
Like elsewhere in northern Italy, you’re as likely to eat risotto as pasta in the Veneto. They prefer it wet here, almost soup-like, and often studded with seafood. Other regulars on the table include polenta, pork, onion, and the dense red leaves of radicchio. Venice, while not famed for its culinary prowess, likes fish dishes – mixing seafood with once-exotic items like pine nuts, raisins and pomegranates. The Veneto’s desserts rarely fail to please. Glorious tiramisu was invented here, and the historical influence of Austria means there’s lots of strudel and doughnuts floating around too.
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Epicures will be far more impressed with the Veneto’s status as a wine centre. Quantity is a particular achievement – more vinous gallons glug out of the Veneto than any other part of northern Italy, and nationally the region is the third biggest producer (after Puglia and Sicily). But quality isn’t in doubt, either. |
About a quarter of all Italy’s DOC/G status wines are created in the Veneto. (No wonder the region hosts Italy’s premier wine fair, Vinitaly, in Verona each April.) Soave, Valpolicella, Bardolino and Prosecco are probably the most famous varieties, but local winemakers also do good work with native French and German grape varieties. The same refined sensibility that prompts the folk of the Veneto to make such sophisticated wine also moves them to construct bewitchingly elegant buildings. Romantic, highly decorated architecture is a distinctive feature of the towns and cities here.
Slender arched windows underscored by stone balconies, pastel facades offset by dark shutters, long porticoes, loggias, frescoed walls, warm pink Verona stone – all are recurrent features. And they’re not restricted to urban environments. Stately historical villas built by Venetian gentry are scattered throughout the region’s countryside. About a hundred sit beside rural stretches of the Brenta River. Naturally there are also traditional farmhouses here too, and there’s no shortage of modern apartment complexes in the cities and resort towns.
The Veneto’s property market is fluid and fast-moving. Homes don’t hang around for very long before being snapped up, mainly because the region’s wealth and excellent job prospects attracts a constant stream of people from other areas. With so many newcomers, the Veneto is increasingly cosmopolitan – although it could never have been described as a provincial backwater at any point in the last two millennia; it’s always been a sophisticated, urbane area with wide horizons and far-flung contacts. In addition to those coming to the Veneto for work, students from all over the world are drawn to superb universities like Padua’s. Other Europeans are by far the most common ex-pats in the region. The few English here have traditionally been drawn to pretty places like Asolo in the pre-Dolomites, while Germans have until recently been the largest group buying holiday homes around Lake Garda. Venice, as ever, sees the whole world thronging its watery byways. It’s often Americans who buy here these days, as they’re the group most likely to be able to afford it. [Time of writing is 2005.]
The volume of new settlers to the Veneto has prompted many excellent renovation projects by skilled local entrepreneurs. You’ll search very hard to find a dilapidated property in the Veneto to do up yourself (the locals are too industrious to let much fall to rack and ruin). Most of the Veneto’s cities have seen a facelift of one kind or another in the past decade, making them even more appealing. Treviso in particular, half an hour north of Venice, is upheld as a shining example of harmonic urban development, with old things restored and new things sensitively incorporated. Newly-built properties, especially apartments near city centres or tourist resorts, are on the increase in the Veneto. As elsewhere in Italy, local people tend to prefer living in these, while ex-pats often fall for the romance of historic properties.
In terms of investment, recent years have seen a 7% average annual increase on the value of homes in the Veneto. Property in Padua and Treviso have appreciated at a slightly higher rate, while some buildings in tourist-luring Venice, eastern Lake Garda and Dolomite ski resorts have appreciated by up to 15% per year. Where the tourists go should of course be a factor in the thoughts of anyone hoping to rent their property to holidaymakers. Venice, while expensive, is certainly awash with tourists year-round, all desperately scrabbling for a place to stay. Rental prices on a one-bedroomed apartment in Venice are around €800 to €1,000 per week. For a much lower rate, Venice-bound tourists can also be enticed to stay within easy travelling distance of the island-city – say, somewhere like Treviso.
The Adriatic coast either side of Venice offers good rental prospects, but only in the summer months. Delightfully romantic Verona, meanwhile, should be borne in mind as the Veneto’s second-most-visited historic city. (Expect lots of spooning couples come to soak up the Romeo and Juliet ambience.) Properties on the shores of Lake Garda are highly rentable in spring and summer (leaving you free to enjoy the place in the autumn), while the charming Euganean Hills south of Padua and the villa-strewn banks of the Brenta River see many successful B&B businesses. A mountain location, carefully chosen, might also prove profitable. Skiers can rent in the winter and hikers in the summer if the property has easy access to both slopes and walking trails. (Investigate the area around Asiago and Enego). If you can afford a place in über-chic Dolomite resort Cortina d’Ampezzo, you can expect Venetian-sized rents and higher throughout the ski season.
As for the specifics of Veneto property prices, it’s already been said that Venice is very costly, but different segments of this tiny, water-bound city command different levels of prestige and so there’s a broad range of numbers to consider. [The 2005 figures quoted at this point in this report have been removed. For more up-to-date figures on Venice’s ever-shifting property market, see the ‘city apartments’ report elsewhere on this website.] Venetian property is considered a fairly solid investment, with a forecast of immediate stability followed by profit long-term. It’s inconceivable that foreign demand for a unique city like this is ever going to go away. Comfortable readers should note that there are occasionally whole islands for sale in Venice’s lagoon – all buildings included, of course!
With central Venice beyond most budgets or at least not always representing very good value for money (and don’t forget the risk of water damage and repair costs), many wise buyers look further afield. Sea-lovers might consider an old property on one of the lagoon’s emptying islands, or investigate one of the comfortable new apartment complexes erected on an island such as Giudecca. Property prices here are about 40% lower than in central Venice, and modern developments are constructed to escape all flooding and water damage. There are also some charming beach resorts on the coast either side of Venice, offering relatively affordable property options. Caorle, Lido di Jesolo, Chioggia, and Rosolina Mare are four such settlements, with venerable and modern buildings to investigate. Half an hour inland from Venice, pleasant, civilised Treviso has already been mentioned. A two-bedroomed apartment here might set you back just €160,000, while a sizeable farmhouse in the nearby countryside might ask a reasonable €350,000 or so. [2005 figures]
Urbanites should be aware that Verona, Vicenza and Padua are all dazzlingly beautiful cities not noted for their huge expense. Seekers of affordable rural calm should investigate the Euganean Hills (Este, Monsélice and Montagnana are three very attractive towns here), as well as the fringes of the Brenta River, and the gentle pre-Dolomite hills to the north of Treviso. As for the Veneto’s bit of Lake Garda, prices seem to be highest between Torri del Benaco and Pacengo. At Lazise, a studio apartment with shared pool might cost €130,000; a two-bedroom apartment €220,000 to €300,000; a terraced home €400,000 and a villa €500,000 plus. In the far north of the Veneto, towards the Austrian border, there’s a wide range of property prices depending on how near you are to ski resorts. The area’s single freak is Cortina d’Ampezzo, where property prices can put even Venice’s in the shade. A loft apartment in the centre can go for more than a million euros.
While there’s no special abundance of British (or American) buyers throughout the Veneto, there’s no shortage of estate agents here able to conduct their business in English. Generally the region has a very high number of English-speakers compared to other parts of Italy. Not only will local estate agents provide you with all the information you need in English, they’ll offer a very high level of general care and after-sales service. You’ll also spot some agents based in Britain who deal with properties in the Veneto (or at least in Venice). Having picked out a few properties to view, getting to the Veneto by air can be a straightforward and inexpensive business. Budget airlines serve the Venice area from Stansted, Gatwick, Luton, Bristol, Birmingham, Liverpool, and East Midlands airports – and it’s painless getting round the Veneto by road or rail.
This is a region whose infinite charms have been half-overlooked by visitors and most British buyers. If you’re one of those people who didn’t even have a clear idea what ‘the Veneto’ meant until you read this article, perhaps it’s time you gave the place a much closer look.
[All quoted prices accurate in 2008]
Dreamlike, fantastical Venice seduces millions of visitors every year, despite its crowds and expense. But who cares much about elbow room or saving money when you’re wandering a living museum stuffed with luminous art and architecture? Opposites meet and mingle in this enchanted bijou city: land and water, east and west. Byzantium gave Venice privileged access to eastern markets, bringing far-flung exotica into Europe through the city’s various waterways and making it rich. Property in the city can be ludicrously expensive, with the glorious Grand Canal still the highest-status address. There’s concern that Venice could become a whole city of second homes – all owned by wealthy northern Italians and foreigners. Over the last sixty years, the permanent local population has shrunk by nearly two thirds, and it’s the young who are most likely to leave. Many of them end up in the nearby Mestre-Marghera conurbation, an unappealing industrial area three times the size of Venice and busily polluting its lagoon. The lagoon has 39 islands – once densely inhabited, now largely deserted. Many would make charming places to live for an adventurous buyer au fait with boats and solitude. A few have seen modern apartment developments. Either side of Venice, good spots for property investment include beach towns like Caorle, Lido di Jesolo, Chioggia and Rosolina Mare.
The Brenta River, snaking westward from Venice’s lagoon, is really just an extension of the Grand Canal – its banks lined with centuries-old villas and palaces built by summering Venetian gentry. Beyond these decorative retreats lies Padua, a prosperous, appealing city that’s been going for nigh on 2,000 years. Its 800-year-old university is Italy’s second most long-lived (after Bologna’s) and alumni include Dante, Galileo and Petrarch. Present-day students keep the little city a lively place with abundant entertainments and inexpensive eateries. Art-lovers appreciate Padua’s myriad churches filled with colourful frescos, and the huge Museo Civico with its dazzling collection. Architecturally, the highlight is St. Anthony’s Basilica – a fantastical collection of domes clustered around a high cupola flanked by octagonal belltowers. Beyond the Renaissance city walls, Padua’s modern sprawl is less attractive, but an inevitable consequence of its economic success. Immediately south of the city, the flat landscape is interrupted by the lush Euganean Hills, ancient volcanic islands now marooned in the middle of the plain. Spa towns exploit the thermal springs and hot mud rising naturally here. Some British buyers have started moving in. Further south, and flat again, a trio of charming medieval fortified towns present quite affordable property options: Monsélice, Este, and Montagnana. Rovigo, set in the fertile, flood-prone strip of land between the Adige and Po rivers, is a prosperous, cultured spot. East of here, the mighty Po splits into branches to form a peaceful, reedy delta dotted with innumerable islets.
Brimming with exquisite buildings, sleek, wealthy Vicenza is a UNESCO World Heritage Site. The 16th century architectural guru Palladio trained and worked here, and some of his finest structures can be found dotted amongst the Gothic and classical buildings of the city centre. The supremely civilised Vicentines are rightfully proud of their city’s enlightened past and continuing prosperity. Modern Vicenza’s hugely successful goldworking, textiles and computer chip industries make it one of Italy’s wealthiest cities. Neighbouring Verona is a beautiful, romantic place full of rose-tinted buildings – the perfect setting for Romeo and Juliet and an easy-going, affordable destination for visiting lovers or property-hunters. A gigantic Roman amphitheatre stands serenely in its centre, while innumerable fine churches filled with beguiling artworks line its atmospheric piazzas. Beyond the city, the landscape is awash with vineyards and wine routes. To Verona’s west, the Veneto includes the eastern half of Lake Garda, the largest, cleanest and most popular of the northern Italian lakes. The slope-backed eastern shore is heavily touristed, but there are still quiet settlements like Malcesine and Torri del Benaco. Traditionally, holiday homes on the lake were most eagerly snapped up by German buyers, but Italians and Britons are currently overtaking them.
Treviso is a charming, often overlooked place just to Venice’s north. Its appealing townhouses display beguiling frescos and long porticoes, while its swan-dotted canals are flanked by willow trees and water-wheels. This discreetly prosperous spot is the home of Benetton, and perhaps nowhere has more outlets of the chain. Relatively reasonable property costs make Treviso an interesting prospect, perhaps especially to anyone hoping to hire their home to Venice-bound tourists who want to avoid the headache of finding accommodation on the island-city. West of Treviso, the terrain is increasingly attractive and there’s a handful of interesting settlements. Castelfranco Veneto and nearby Citadella are both ringed by impressive city walls punctuated with battlements. Asolo, also walled, and gazing across surrounding Dolomite foothills, is an idyllic spot much loved by British ex-pats but still surprisingly affordable. Bassano del Grappa is a colourful, industrious town with a well-preserved historic core, while further west, walled Maróstica sports a magnificently glowering hilltop fortress and popular, pretty Asiago nestles on a cool green plateau.
North of Treviso, the landscape grows ever-more inspiring. The Dolomites, frequently deemed the world’s most beautiful mountains, start making their presence felt. There are vineyards, fairytale castles, and poignant memorials to the massive loss of life incurred here when Europe went to war with itself in the early 20th century. With the exception of Cortina d’Ampezzo near the Austrian border (among the top ten costliest locales for property in Italy), this part of the Veneto is not notably expensive. Conegliano is an amiable town of steep cobbled streets ringed by Prosecco-growing hillsides, while nearby Vittorio Veneto sports handsome 15th and 16th century homes and gives access to great hiking trails. West of these, the beguiling historic core of Feltre is strung along a narrow ridge, gazing over the modern part of town. Belluno, further north, is a blessed spot balancing small size with urban sophistication, and enjoying magnificent views of the Dolomites from spaces between its pale yellow stone buildings. Cortina, already mentioned, is spectacular in its setting and its property costs. The local population rises from 8,000 to 30,000 during the ski season. Far quieter, and cheaper, is the nearby summer-winter resort of Alleghe.
Tim Collins has lived in the Veneto since the late 1980s, providing self-catering holiday accommodation in his farmhouse in the Dolomite foothills north of Treviso. At 36, he felt his demanding UK career was burning him out, so he hatched a plan to escape to Italy, knowing only that he wanted to be in the hills somewhere. “I wanted Wales with sunshine, basically. I drove up to Como and Garda but couldn’t afford anything there. Then a friend’s Italian wife said ‘Have you thought about the Veneto?’ and just like everybody else I said ‘What and where is the Veneto?’! I drove around the region, and in Valdobbiadene I said to my then partner ‘This is it. We’ve found it.’ It was the 1980s, and it seemed that every old farmhouse in the hills was for sale. The affluent young didn’t want these old properties because they associated them with the poverty of their grandparents. Now the next generation has lovingly renovated most of them.”
Tim and his new wife Mary adore the variety of the Veneto – mountains, seaside, exquisite cities. “If I had to buy again in Italy,” Tim says, “I wouldn’t go for anywhere other than the Veneto. I certainly wouldn’t go south. It’s much cheaper, but there’s nothing to do. Here, I can go out every day and see something new.” The local people, he agrees, “are fantastic. They’re so industrious, helpful and friendly. I also find them very honest and fair. The only thing they’re not honest about is declaring the real sale price of a property to the taxman – a standard deception in Italy! When I bought, and wanted the full price officially declared, the magistrate, the bank manager and the estate agent all howled in protest and said the vendors would never agree to that because then they’d be taxed on the full amount. The bank manager even took a big book off a shelf and showed me lists like logarithms of real prices offset with declarable prices – that’s how normal it is to deceive!”
Tim’s accommodation business has been very successful. “We’re usually booked solid from June to early September.” And his initial investment has certainly paid off. “We bought this house, ‘Collaldra’, for £60,000 in 1989 and it’s now [in 2005] on the market for £650,000. But we did completely renovate it.” Things change a lot in eighteen years. Tim and his co-buying partner separated very amicably, and because neither can buy the other out, their beloved farmhouse is for sale. Tim and Mary plan to move to North Carolina. Will he miss Collaldra? “With a 400-year-old farmhouse, I feel you don’t ever own it, you’re just a caretaker like all the others before you. I’ll be happy for someone else to take this on, continue it, and make more improvements.”
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