Italian Properties Become Target of U.S. Homebuyers Enjoying Strong Dollar
U.S. second homebuyers are checking out Europe this summer, with the UK, France and Italy enjoying the lion's share of their interest. According to InsureMyTrip, the three European countries will be the most popular destinations for travel beyond the US's borders between June and August 2015.
But it's not just a vacation for all, an increasing number of U.S. travellers are looking to pick up a second home while on their vacation, at least that's the case in Italy, according to Jane Smith of local property agency Magic Marche.
Jane commented, "Our enquiry rate for the first half of 2015 is over 20% higher than for the same period in 2014. With a strong US dollar against the Euro, buyers from the USA have increased in numbers. Restored country houses remain the most popular choice but we've also seen a growing trend in townhouses, where buyers can enjoy the benefits of having shops, restaurants, cafés and local markets right on their doorstep."
Dawn Cavanagh-Hobbs, founder of family-run holiday home company Appassionata, is certainly familiar with the increase in US buyers. Her latest luxury fractional ownership home, Casa Tre Archi, has so far attracted keen interest Stateside, with 67% of owners coming from America. Of the six Discovery Trips booked for the coming three months, where interested parties can visit Le Marche and stay in the property, five are families from the US. Dawn comments,
"Italy is a tourist destination enjoyed by visitors from all over the world and many of those hail from the US. Our two countries have ties that span centuries and modern-day Italy still holds many attractions for American visitors. We've found that many of those who come here are utterly charmed by Italy's attributes, from its stunning architecture to its beautiful beaches, as well as the local cuisine and the open, welcoming nature of regions like Le Marche."
Deb Gale, a U.S. buyer who now owns a fraction in one of Appassionata's other properties, Casa Leopardi, describes the area as, "an astonishing combination of land, sea, sun and history, colliding with culture and casual sophistication. You cannot help but love the food, the wine, the restaurants and the markets."
In line with current market trends, the Appassionata team opted for a townhouse for their third luxury property, having previously restored two fabulous country homes.
Dawn explains, "We chose to go down the urban fractional route in order to offer owners a luxury property that had all the amenities they could wish for within walking distance. Many families prefer to stroll into town to find a restaurant for dinner and enjoy a glass of local wine, without having to decide who will be the designated driver on the way home. Or to let the children head to the local bakery for early morning pastries, while the adults keep a watchful eye on them from the roof terrace. Casa Tre Archi enables all of this and more - it's the ideal holiday property in the ideal location. We knew it as soon as we first viewed it."
Fractions in Casa Tre Archi are running from £75,000 for five weeks' exclusive use per year.