Overseas property investors looking for an Italian adventure can become king of the castle in the Italian countryside without breaking the bank.
Property investors considering Italy are often attracted by the rich history and unique character properties available, and for those investors with deep pockets, a castle or complete village can be available to own.
Often for not much more than the price of an upmarket apartment in fashionable Rome or Milan, investors can purchase a piece of genuine Italian medieval history.
Todi Castle in the town of Todi, Umbria has been completely renovated, even including an internal elevator linking the castle floors totalling over 800 square metres. Suitable for renting out rooms or as a complete holiday home, the castle is currently available for €2.2 million and already rents out as a whole for €4,500 a week.
An even cheaper option is available nearby in Assisi, where you can purchase a small medieval village made up of a main house and two smaller properties spread over 7.9 hectares of land. With a total of 16 bedrooms, 18 bathrooms, a swimming pool and even a small church, the village is already used for tourist accommodation and can be yours for just €1.29 million.
The ever popular region of Tuscany can be a bit more expensive when looking to invest, but even here there are opportunities.
At Castellina in Chianti you could purchase an entire hamlet including 15 bedrooms and 11 bathrooms spread over 1,270 square metres of living area. A swimming pool with panoramic views over the 47 hectares of farmland, woodland and olive grove included in the purchase price of €2.5 million completes the ideal holiday experience.
An even larger hamlet in Siena comes with its own winery for €5 million. 23 bedrooms and 22 bathrooms are included in the 2,200 square metres of developed apartments included. There is also another 1,200 square metres of further structural development with planning already approved.
The 40 hectares of land includes 16 hectares of vineyards producing enough grapes for the winery production to reach 133,000 bottles per year. A substantial olive grove supplies around 2,000kg per annum to accompany your wine.
However, medieval history doesn’t have to mean spending millions on a castle of complete village. A medieval tower in a small hamlet near Arezzo can provide 6 bedrooms and 5 bathrooms spread over 210 square metres of living area for a purchase price of €350,000. It has yet to be renovated, but has been structurally assessed as sound for development.
So if you want to be king of the medieval castle, it seems Italy is the place to go.