The Italian city of Venice is one of the most beautiful places on earth. Because of its unique architecture, sprawling network of canals and unique cultural, artistic and musical heritage, it is now one of the most visited places in the world. It also hosts a number of commercial establishments and nightlife entertainment, making a good place to invest in.
For most people, living in Venice is a dream of a lifetime. Imagine living in a car-free city and having a perennial view of the Grand Canal! No wonder more and more foreigners are now vying for Venetian real estate which has then led to the increase in prices. Contrary to common knowledge, Venice is composed of 6 areas or sestiere, with each one offering advantages to property buyers and renters. For example, if you are looking for real estate properties which you can rent out to holidaymakers, then the best areas to search in is Castello, San Marco and Dorsoduro. On the hand, if you wish to live in Venice permanently, San Polo and Cannaregio are the best choices since prices of commodities and services are much cheaper here.
There are different kinds of real estate properties in Venice which addresses the needs of various types of renters. For example, there are serviced accommodations in the city which cater to the tourism industry. These houses, apartments and villas can be rented at short periods and they are usually expensive. The good thing is that there are a number of long-stay rentals which are available at cheaper rates. These long-stay properties are typically found in Dorsoduro and Cannaregio. If you wish to rent out one of these apartments, then be prepared to pay for at least one month deposit. Your landlord may also ask for a reference and a bank statement showing your capability to pay the rent. Most serviced accommodations are fully furnished and come with free cleaning service. Of course, city services (electricity and water) will need to be paid apart from your monthly rent.
For people who wish to purchase properties in Venice will need to employ a lawyer who can help them with the legal process. In most cases, buyers will need to deal with people who prefer to speak in the local language so the purchase process can be complicated especially if they can speak little or no Italian. Just like in any place in the world, completing the sale of a property in Venice requires the organizing of the deed and title transfers.
You need to keep in mind that the most expensive properties in the city are those located near the most visited areas because they also offer high yield from rentals. There are cheaper alternatives but these should be approached with caution since these properties may be prone to flooding. Before you sign a contract, make sure you get a proper structural survey of the property so you know whether the structure youre purchasing can stand floods or not. Lastly, most Venetian properties do not have kitchen cabinets or light fittings so it is best to go for an ocular visit so you can get exactly what youre looking for.
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