Buying property in Venice offers a unique lifestyle, city and opportunities. Discover reasons to buy there, where to buy and how to make it happen.
Venice, with its canals, historic architecture and rich cultural heritage, is one of the most enchanting cities in the world.
Known as “La Serenissima” Venice offers a blend of Renaissance charm and modern amenities, making it a highly desirable location for property buyers. Whether you’re looking to purchase a second home or an investment property, Venice has something to offer.
Why buy property in Venice?
If all you know about Venice is that it’s old, beautiful and full of tourists, you only know half the story. It’s seriously beautiful. Created 1,500 years ago by driving wooden piles into muddy islands, it is a city both built on water and thriving on it.
Venice’s Grand Canal
As the city developed, bridges were built between individual islands. But there was also competition between neighbourhoods, to create the grandest churches and most beautiful palazzos. All paid for by global trade, they had certainly had the money to make an impression.
The canals between them give the city its beauty, movement and energy, as boats zip up and down (watch out for the wash if you hear an ambulance coming!), bathed in sunshine creating dazzling lightshows on buildings hundreds of years old.
Unique lifestyle
Venice offers a lifestyle unlike any other city. With its canals, historic palaces and vibrant cultural scene, living in Venice feels like stepping back in time. The city is largely car-free, which means you can enjoy peaceful walks and boat rides through its picturesque streets and waterways. The local cuisine, festivals and arts scene add to the city’s charm, making it a delightful place to live.
Cultural and historical significance
Owning property in Venice means being part of a city with immense cultural and historical significance. Venice is home to several UNESCO World Heritage sites, museums and art galleries. The city has been a centre for art, commerce and culture for centuries, making it a fascinating place to live and explore. It’s not all ancient art either – the Peggy Guggenheim is super-modern, while the Biennale is as contemporary as it gets.
Strong rental market
Venice is a major tourist destination, attracting millions of visitors each year who all need to stay somewhere. Whether you choose to rent out your property short-term to tourists or long-term to residents, there is a strong demand for accommodation in Venice. Just be careful to follow the rules and get all licenses in place.
Venice’s property market
The Venice property market offers a diverse range of options, from historic palazzos to modern apartments, catering to various tastes and budgets. Property prices in Venice can vary significantly depending on the location, size, and condition of the property.
Recent data from Immobliare.it suggests that the average asking price for properties in Venice ranges from €300,000 for smaller apartments right the way up to several million euros for luxurious, historical, canal-side palazzos.
Popular locations in Venice
Some of the most popular areas for international buyers in Venice include:
San Marco
Famous for its iconic landmarks such as St. Mark’s Basilica and the Doge’s Palace, San Marco is one of the most coveted areas in Venice. Properties here are highly sought after and come with a higher price tag due to their central location and historical importance.
Dorsoduro
This district is cherished for its artistic ambiance, housing the Peggy Guggenheim Collection and numerous galleries. Dorsoduro combines historic charm with a vibrant cultural scene, making it a favourite among both residents and investors.
Cannaregio
Known for its authentic Venetian feel, Cannaregio is less frequented by tourists and offers a more local experience. It is also one of the more affordable districts, appealing to buyers looking for value without sacrificing charm.
Giudecca
Situated just across the canal from the main island, Giudecca provides stunning views of Venice and a quieter, more residential atmosphere. It is increasingly popular among buyers seeking a peaceful retreat close to the city’s attractions.
Is buying property in Venice a good investment?
Venice is an immensely popular city and attracts countless visitors each year. If you’re looking to take advantage of this and operate short-term or long-term lets on your property, you certainly can, however, it’s important you speak to an independent property lawyer to ensure you’re up to date with current regulations and licenses.
The Italian government is looking to impose a limit of two rentals on owners per city (Venice and Florence, CNN Travel) and a 90-day annual limit for rentals. If you wish to rent out a property in Venice for 90 days or more, you will need to register as a business, meaning your tax implications will increase.
It’s important to consider potential risks too, such as the impact of climate change and rising sea levels on properties in Venice. Ensuring your property is well-maintained and protected against flooding is crucial.
Steps to buying in Venice
Buying a property in Venice involves several steps, but with careful planning and the right support, it can be a smooth process.
- Define your requirements: Determine what you want in terms of property type, size, location, and budget. Consider your must-have features and nice-to-haves (aka, things you could do without).
- Research and planning: Gather information about the property market in Venice, including prices, popular areas, and legal requirements. Visit the region to get a feel for different locations.
- Engage professionals: Work with a local estate agent, an independent property lawyer, and a currency specialist to navigate the buying process.
- Book a viewing trip: Arrange viewings of potential properties with your estate agent. Take notes and photos to help you compare options.
- Make an offer: Once you find a property you like, make an offer through your estate agent. Your lawyer will handle the legal and due diligence processes.
- Sign the preliminary contract: Sign the preliminary contract (contratto preliminarie) and pay a deposit (caparra) (usually 10%) to secure the property. The preliminary contract outlines the terms of the sale.
- Finalise financing: Arrange your codice fiscale and financing, whether through a mortgage or other means. Ensure you have funds available for the final payment.
- Sign the final contract: The final contract (rogito) is signed in the presence of a notary. Pay the remaining balance and any associated fees.
- Register the property: Your notary or lawyer will register the property with the Land Registry to ensure it is in your name.
- Move in: Once the registration is complete, you can move into your new home in Venice and start enjoying the Venetian lifestyle.
