One of the most romantic cities in the world – Venice. This is one of the most famous, desirable and treasured travel destinations in the world. Prior to Covid-19, millions of people visited each year to admire the unique beauty. This city and its lagoon are listed as a UNESCO World Heritage Site. Along with Rome and Milan, Venice is one of the most visited cities in Italy.
Venice is considered one of the most beautiful cities in the world. A huge number of people (about 30 million a year) visited the “city on the water” not only for tourism, but also for marriage and real estate. To ensure the comfort of Venetians and travelers, the local authorities have a implemnted a capacity limit on the number of tourists and just recently, the entry of large cruise ships into the Venice Lagoon has been baned. These precautions are very important in preserving the original foundation of the ancient city.
The districts of Venice (sestiere)
The historical part of Venice is made up of six sestiere districts, which is typical only for Venice, as the districts thoughout the rest of Italy are called neighborhoods.
The most expensive property is situated in the Sister San Marco, which is located around Piazza San Marco, called the Salone della Pace. The most historically important buildings of Venice and its republic are concentrated in this sister: the Church of San Marco, the Doge’s Palace, the Bridge of Sighs, the bell tower of the Church of San Marco Square, as well as the most famous Café – Florian. It houses the famous Venetian Theater called La Fenice, as well as one of the oldest theaters in Venice – the Goldoni Theater. The main commercial artery of Venice, via Le mercerie, leads from Piazza San Marco towards Rialto, where there are boutiques of famous brands and jewelers. The area has beautiful waterways (calle) with romantic bridges and views.
The average cost of a property in San Marco, Venice is € 6,500 per square meter. March 2021.
Neighborhood (sestiere) Dorsoduro
Dorsoduro is located in the southernmost part of the ancient city. One of the most visited attractions in Venice is the Museum of Modern Art with the collection of Peggy Guggenheim – the granddaughter of the famous magnate Solomon Guggenheim, next to the residence of Peggy herself – the Palazzo Venier dei Leoni. In the same sestier there are the Accademia Gallery, in addition to the Cà Rezzonico with the Museum of Venetian Art of the eighteenth century; here is the Venetian University Cà Foscari, the Church of Santa Maria della Salute, the Church of All Saints and others, as well as shops of brands and restaurants famous all over the world. Here there are many contemporary art exhibitions for the Venice Biennale.
The average price of a property in Dorsoduro was € 5,200 per square meter. in March 2021.
Neighborhood (sestiere) Cannaregio
On the north side of the Grand Canal is the Cannaregio district, adjacent to the Santa Lucia train station. It is one of the largest districts of Venice and one of the most populous. The palaces overlooking the Grand Canal in this sestiere were mostly owned by wealthy Venetian families and were built in the 14th-15th centuries. Worth noting is the Palazzo Labia, with paintings by the Venetian artist from the Baroque period – Giovanni Battista Tiepolo, the Renaissance Ca d’oro with a very interesting collection of paintings, and Ca Vendramin Calergi, where the Venice Casino is located. Among the attractions of this district is the Venice ghetto with five synagogues and a museum of Jewish culture. There are many romantic glimpses, narrow waterways, island views in the northern part of the lagoon, as well as extraordinary churches of ancient but vibrant Venice.
The average cost per square meter of a property in Cannaregio is € 5,200 (March 2021).
District (sestiere) of Santa Croce
The Sestiere Santa Croce, the quietest and least touristy of all areas of Venice, is the place where children can be seen playing ball after school. In the oratory of the Church of San Giacomo del Orio (one of the oldest churches in Venice), you can breathe the authentic lifestyle of the Venetians. This district combines the ancient and the modern. Here are the bridges of Liberty and of the architect Calatrava. The Mocenigo and Fontego dei Turchi palaces, Cà Pesaro, Ca Corner della Regina overlook the Grand Canal. The baroque church of Santa Stae, which houses the works of G.B. Tiepolo, is also a very intersting site.
The average price of a property in Santa Croce, Venice is € 5,470 per sq m. March 2021.
Neighborhood (sestiere) Castello
The Sestiere Castello occupies the largest area of all the Sestieri of Venice and it is the greenest district of Venice. Some of the most significant attractions of this district are the Arsenale with the Maritime Museum, the Marine Biology Station and the Biennale Gardens, which also organizes the Venice Film Festival. The pavilions of the Biennale are located inside the garden. The commercial artery of this district is via Garibaldi, where you can mainly buy carnival masks and other souvenirs produced in Venice. It is interesting to visit the Acqua alta bookshop, where all the books for sale are placed on the boats, in order to prevent water damage if the water level suddenly rises. Here there are also ancient churches: the Church of San Zaccaria and the Church of Santi Giovanni e Paolo.
The price of the apartments in the Castello area in Venice varies from € 5,640 per square meter. (March 2021).
Neighborhood (sestiere) San Polo
The Sestiere San Polo is the smallest district of Venice. It includes the Rialto Bridge and the homonymous market of vegetables, fruit, flowers and fish. The name of the sester was given in honor of the square of the Church of San Paolo, the second largest after the Church of San Marco. The attractions here are: Scuola Grande di San Rocco, Basilica dei Frari, Church of San Giacomo di Rialto.
The average price of a property in the San Polo area of Venice is € 5,850 per square meter. March 2021.
Islands of Murano and Burano
In addition to the film festival and biennial, you should definitely visit the small islands with the colorful houses of Murano and Burano, famous for their Murano glass factories and Venetian lace makers. The real estate market in Venice is always stable and in high demand manily from Italian buyers, but also from foreginers who are in love with the city and investors. The apartments in Venice in the aforementioned areas remain the most requested.
Venice: apartment prices
Many people are looking for a house in Venice with improved living conditions, such as a balcony or terrace. I like the Rialto district as a city center with infrastructure and administrative offices. An apartment in a historic building in this area will cost from 7,000 € / sqm. overlooking the Grand Canal. The popular district of Castello (via Garibaldi), marked with lower prices, but at the same time is close to Piazza San Marco. Buying a property in the Castello area of Venice is a good choice for those wishing to invest in the immediate vicinity of one of the most famous monuments in the world.
Why invest in Venice?
Choosing an investment in Venice can be a very profitable prospect. Today Venice is one of the most attractive investment destinations in the world due to the constantly growing demand in the real estate market. Being one of the first cities on the list of tourists from all over the world to visit all year round, the purchase of real estate in Venice for the next lease will always be a profitable investment.
Venice invests trends in the Coronavirus
International investors are now focusing mainly on properties with an excellent location and views of the Grand Canal, which can be adapted to the needs of the Venice Biennale (La Biennale d’Arte di Venezia) – one of the most significant international events since 1893, that every two years grows exponentially in terms of status. An equally important event is the Venice International Film Festival, which has been held since 1932, and a large amount of rental space is also required for its participants and guests. There is therefore a clear interest on the part of investors in the acquisition of historic properties, perfect for rent during the setting up and running of the Biennale and the Film Festival as an exhibition space or residence for delegates. There is also a growing demand for the purchase of hotels in the city center. Due to the suspension of all public events due to the pandemic, the cost of renting in Venice has decreased, but this is only a temporary phenomenon. To stabilize the situation with Covid-19, the above events will certainly be carried out with the same scope as before.
Investors are now turning their attention to the real estate sector on the island resort of Lido, famous for its beaches, as well as the buildings of the Venice casino and the Palazzo del Cinema, built in the 1930s. As the Lido of Venice is the main venue for the famous film festival, there are many beautiful Art Nouveau hotels and buildings overlooking the sea.
Prestigious properties in Venice not affected by Covid-19
It seems a miracle, hard to believe, but the pandemic and its companions such as the economic crisis and unemployment have barely touched the Italian real estate market. In connection with the coronavirus, more interesting objects have appeared on the market, including many renovation options that have not been exposed before and which can be bought at an attractive price as an investment. Foreign investors immediately understand how Venice behaves in terms of property prices, even if they sometimes prefer the location over other factors. Venice is small and nothing is really too far away. Better value for money and often more interesting and original properties are found in less popular areas. But the best buyers turn only to the Grand Canal and its best part, where prices for single unique properties can reach really high values. The charm of Venice is enriched from year to year, not only for its beauty and history, but also for its important strategic position in the world of art. Among real estate analysts there are those who argue that the problems linked to the pandemic will soon be evident. But Venice does not seem to be in crisis. City buildings on the water are stronger than any crisis.
Who can resist mooring their own boat and admire breathtaking views from their personal slice of a Renaissance palace?