Italian real estate market in 2020: Puglia again at the top of the ranking
- 4 January 2020
- Investing in Puglia
Tourism in this region is experiencing a golden age and buying a villa to be introduced in the rental market represents a very favorable and not risky investment. But which are the best places to buy a rental property in Puglia?
Puglia is characterized by dry plains, rolling hills, a low coast with enchanting beaches, art towns and beautiful villages. Its climate makes it ideal for the cultivation of olives, grapes and wheat consequently Puglia is the main Italian producer region of oil and wine.
According to Gate-away.com, a web site specialized in selling houses to foreigners, over one and a half million foreigners searched for a house in Italy in 2018. At the top of the ranking of the most popular regions is Tuscany; Puglia, compared to 2017, exceeds Lombardy, getting the second place in the ranking.
The best places to buy a rental property in Puglia are the areas that guarantee a good tourist flow.
Gargano, the northern part of Puglia, is a mass tourist area where tourism is concentrated almost exclusively during the high season. Here the properties are not particularly valuable, so you can find good prices but also the rent income won’t be very high.
An area where it is most worth investing in a rental property is Salento, the southernmost part of Puglia, known as the “Heel of Italy”. Salento is the main destination of Apulian beach tourism and its seaside towns such as Gallipoli, Otranto, and the entire Ionian coast are filled with tourists every summer. The hinterland is characterized by beautiful villages, vineyards that produce excellent red wine, and historic farmhouses.
Although these two areas have a decent real estate market regarding rental properties, Gate-away.com reveals that the first places in Puglia for the number of requests received are Ostuni, Monopoli and the Trulli Valley. These places seem like have two characteristics that other areas of Puglia do not have. First of all, they attract mainly foreign tourists with a high economic resource (they are mostly English, Germans and the Americans people who buy a property here, followed by Belgians and French); secondly these areas have a longer tourist season, from April to October, as it is not strictly connected to beach tourism but more to other aspects such as landscape, experiences, villages and food and wine.
Monopoli and the nearby Polignano a Mare are among the most popular destinations for foreigner tourists who here can enjoy a spectacular stretch of coast and the beauty and liveliness of the two towns.
Ostuni, for years at the top in the rental properties real estate market, continues to attract visitors for its proximity to the sea, the charm of the town and the beauty of the countryside.
Recently Carovigno area, close to Ostuni, has also begun to attract interest. It is still little known, but it has great potential.
Characteristic dwellings of Puglia very attractive for the rental property real estate market are the Trulli, stone buildings with cone-shaped roofs scattered around the countryside. The Trulli are located in the area called Valle d’Itria (commonly called the Trulli Valley), and the greatest concentration is in the municipalities of Ostuni, Cisternino, Locorotondo, Martina Franca, Alberobello, which is the only village with the historic center entirely made up of Trulli. However, compared to the Trulli in the village, the Trulli Villas placed in the countryside have a much higher potential with regard to rental income.
The Trulli market in recent years has been characterized by a great increase in demand, both from Italian and foreign buyers, fascinated by the beauty of the Apulian landscape and the unique characteristics of these dwellings.