International Property & Travel Volume 23 Number 6

Page 16

Europe’s finest locations · Italy

funds outside the Euro zone, the currently favourable exchange rate has also improved the value proposition. However, house prices are forecast to rise by the end of this year.” Ms Davie advises that, whatever the reason for investing in Italian property, it’s important to remember that buyers need around 10% of the purchase price to cover fees such as stamp duty, legal costs and agents fees. “However, the cost of ownership in the country is low,” she says, “especially if compared to other countries, as there is no capital gains tax after five years and no inheritance tax. Italy has also been fêted in recent times for making the purchase process less bureaucratic and less complicated for overseas investors, combined with a reduction in the fiscal burden of property taxes. For example, should you buy a house in Italy and decide to rent it out using a ‘regulated contract’ (locazione a canone concordato), you will benefit from a 25% discount on property taxes.”

The Marchesa at Palazzo Contarini Polignac, Venice This magnificent second piano nobile apartment is in one of the most beautiful palaces on the Grand Canal in Dorsoduro close to the Accademia bridge. Its spectacular 200m2 grand salon can seat up to 24 for dinner and has a wonderful balcony with superb views. The Palazzo has recently been carefully restored and great care has been taken to enhance and preserve the features of the 18th century interior, including the exquisite rococo and neo-classical stucco-work depicting scenes from classical mythology. The apartment has two main huge salons, a further private dining room, six double bedrooms, seven bathrooms, a main kitchen plus second smaller kitchen. There is a further bedroom accessible from the main apartment, ideal for a nanny or au pair. £12,975 / €15,000 / $16,800 per week

Venice Prestige

Resplendent rentals

Venice Prestige has over 30 years’ experience of Venetian property as well as helping clients plan their ultimate Venetian discovery. The company specialises in letting highend properties in Venice for a weekend, a month, an important event, a celebration or special holiday. Ann Marie Doyle, owner and director of Venice Prestige says, “We only represent properties which we are sure will be of interest to our discerning international clientele: for location, style and furnished to exacting standards. Venice is small and intimate, comprising almost entirely Grade I listed historic property – significant both nationally and internationally, with an intrinsic value and importance. With no room for extra development, it continues to be a fabulous and desirable place in which to own and let property: whether a pied-à-terre, a piano nobile floor, or indeed a whole palazzo.” 16

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International Property & Travel

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