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Listed with Lionard Luxury Real Estate LOCATION: Capraia, Tuscany, Italy SQUARE FOOTAGE: 16,000+ BEDROOMS & BATHROOMS: 25 bedrooms & 22 bathrooms PRICE: Available Upon Application This historic seafront fortress is situated on the island of Capraia, the northwestern-most of the seven islands of the Tuscan Archipelago in Italy. It was built by the Republic of Genoa starting in […] More
Listed with Stefano Maria Ferrara of Italy Sotheby’s International Realty LOCATION: Torre Alfina, Viterbo, Italy SQUARE FOOTAGE: 53,819 BEDROOMS & BATHROOMS: 35 bedrooms & 15 bathrooms PRICE: Available Upon Request This medieval castle is located in the village of Torre Alfina in the province of Viterbo, Italy. It was built in 1200 and features over 53,000 square […] More
New York City is consistently one of the most expensive places to live, so it’s no wonder more and more Big Apple residents are packing up their postage-stamp apartments and heading abroad in search of more space for less money. And, if you’re considering pulling a real-life Emily in Paris and escaping to Europe, you might be pleasantly surprised just how much more bang for your buck you can get when it comes to real estate.
A new study from My Dolce Casa, an expat-oriented blog about living and retiring overseas, has done the hard part and calculated what the same amount of money can buy you in the Mediterranean versus Manhattan. The website based its research on Realtor.com’s median listing price for a 500-square-foot apartment in New York City, which was approximately $750,000 or $1,500 per square foot. Using that value as a guide, it then determined what size house you would be able to purchase for a similar cost in countries like Italy, Spain, Portugal, Greece, and France. Let’s just say the results are nothing short of enticing.
You can buy three times as much space in Spain compared to Manhattan.
David Zorrakino/Europa Press via Getty Images
During the pandemic, Americans descended on Italy for a taste of la dolce vita. When it comes to getting the most for your money in Bel Paese, the mountainous region of Molise—due east of Rome on the Adriatic coast—topped the chart in terms of value with an average price per square foot of $90. Here, for example, $750,000 will get you a sprawling 8,333-square-foot villa. Similarly, if you wanted to settle down further south in Calabria, the same amount of money would afford a whopping 8,242 square feet of space, which translates to about $91 per square foot. By comparison, a condo of that size would run you upwards of $12 million in Manhattan, according to The New York Times.
Spain’s Castilla-La Mancha, a vast region in the center of the country, landed in third place. The desert-like area includes the historic city of Toledo and was the setting of the famous Don Quixote novel. It also has the country’s lowest population density, so essentially it’s the complete opposite of New York City. Here, you can expect a home as large as 7,813 square feet, while over in Extremadura, which borders Portugal, you could pick up a 7,426-square-foot country home. For all The White Lotus fans, the Italian island of Sicily notched the fifth spot. With an average price per square foot of $104, you could live big like Quentin (Tom Hollander) in your very own 7,212-square-foot palazzo.
Real estate on Crete costs on average $215 per square foot.
Laszlo Szirtesi/Getty Images
Greece has long drawn tourists during the summer months, but if putting down roots in the so-called cradle of Western civilization appeals to you, for the price of a 500-square-foot studio in Manhattan, you could snap up a 5,859-square-foot abode in Thessaly, one of the most important regions of ancient Greece and known for its impressive mountain ranges and idyllic landscapes. On the other hand, if pink-sand beaches, archaeological sites, and a thriving wine scene float your expat boat, you could stretch out in a scenic 3,488-square-foot villa on Crete, Greece’s largest island.
You can find the full ranking below.
RegionCountryHome Size (square feet)MoliseItaly8,333CalabriaItaly8,242Castilla-La ManchaSpain7,813ExtremaduraSpain7,426SicilyItaly7,212UmbriaItaly6,944BasilicataItaly6,356AbruzzoItaly6,303Castilla y LeónSpain6,148PugliaItaly5,952MurciaSpain5,906ThessalySpain5,859PiedmontItaly5,769ThraceSpain5,556La RiojaSpain5,474CentralSpain5,474AsturiasSpain5,245GaliciaSpain5,245AragónSpain5,102Friuli-Venezia GiuliaItaly5,068
Authors
Abby Montanez
Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, entertainment, dining, travel to…
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In Amazon‘s adaptation of the 2005 blockbuster film Mr. & Mrs. Smith, John (Donald Glover) and Jane (Maya Erskine) jet off to Italy’s Lake Como for an extraction mission. Now, if you want to make like a couple of spies in an arranged marriage, you can book the same lakeside cottage that the faux-couple stayed in in the limited series.
Nestled on the picturesque Faggeto Lario shoreline, the charmingly unfussy, and spectacularly sited rental property is known as The Writer’s Nest and actually dates back to the 1800s. Built within a stone quarry, the centuries-old hideaway is where author Giuseppe Guin famously penned his novels (hence the name). Altogether, the nearly 1,300-square-foot spread comprises three bedrooms and two bathrooms and begins at just shy of $860 per night.
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“At the bottom of the quarry, the overhanging rock still retains the signs of the stone quarrymen who worked there for centuries, drawing stones from the mountains to build homes and churches of Lake Como,” notes the listing.
The idyllic retreat is surrounded by a grassy beach and dotted with circular stepped rocks, which, according to the listing, were formerly used by “the fishermen of twaite shads and perchs.” Inside, the charming pad is filled with antiques and natural materials. Most notably, the home’s library was made from chestnut wood that is hundreds of years old. Elsewhere, the kitchen features a sink carved into granite. There are also hand-forged iron lanterns and a glass veranda that overlooks the lake. Of course, there are a slew of modern comforts too, including air conditioning, a washing machine, a dishwasher, and Wi-Fi.
You can rent the Lake Como house from episode 5 of Prime Video’s Mr. and Mrs. Smith.
David Lee/Prime Video
If you’re up for exploring the grounds, the property features a barbecue area, an outdoor dining table, and sunbeds for lounging. The Writer’s Nest can only be accessed by boat, and a private transfer can be arranged during your stay.
In the streamer reboot, which hit Prime Video in February, two secret agents who have never met are brought together in an arranged marriage as Mr. and Mrs. John and Jane Smith. Every week, the duo must complete a high-risk mission while also navigating a budding romance between them. Since the eight-episode show premiered last month, web searches for travel to Lake Como have increased by a whopping 36 percent, according to HomeToGo. The trend marks a similar phenomenon to what occurred after viewers tuned into seasons one and two of The White Lotus.
Authors
Abby Montanez
Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, dining, travel and topics…
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Bill Gates is now the king of his very own castle.
The Microsoft co-founder purchased the famous Castello di San Giorgio in Italy’s Liguria region for approximately $60 million, Il Secolo XIX first reported. According to the local newspaper, Gates bought the historic property through his Four Seasons real estate company, meaning there’s a chance that the tech billionaire turned hotelier could turn the building into a luxury resort.
The fortress-like structure was used for military defense during the Roman Times because of its elevated position; however, it was later abandoned, The Daily Mail reported. After a British diplomat scooped the place up some decades later, it was converted into the luxury villa seen today. Also known as Portofino Castle, the ancient European spread measures 12,917 square feet, and it even sports an elevator that will bring you directly down to the beach.
Bill Gates reportedly bought a castle in Northern Italy for $60 million
Kevin Britland/Education Images/Universal Images Group via Getty Images
Portofino, which is perched on Italy’s northwest coast, has long been a popular hideaway for jet setters, entrepreneurs, and celebs. Fashion designers Domenico Dolce and Stefano Gabbana famously have villas there, while Leonardo DiCaprio, Jeff Bezos, and Jennifer Lopez have all visited the colorful fishing village, not to mention it’s where Kourtney Kardashian and Travis Barker got married at Villa Olivetta.
This isn’t the first time that Gates has added an Italian property to his impressive $170 million real estate portfolio. In 2021, Gates’s private equity firm, Cascade Investment, bought a majority stake in the Four Seasons Hotel chain from Saudi Prince al-Waleed bin Talal in a $2.2 billion deal. Four Seasons was subsequently awarded a contract for a new resort in Rome, located within a 17th-century palazzo right by St. Peter’s Basilica and the Spanish Steps, which will become the city’s first six-star hotel. More
Is George Clooney saying arrivederci to his longtime Lake Como estate?
Well, not if you ask him. Rumors have been circulating that the 62-year-old actor is offloading the iconic Villa Oleandra. However, the Ocean’s Eleven star recently assured People that any speculation of a sale is false. “The first I heard of it was when Page Six published the story. Everyone picked it up. It’s not true,” Clooney told the outlet via a rep. Sorry to disappoint.
It all started earlier this month when a source close to the ER actor told Page Six that the famous villa in Laglio was on the market sotto voce for an eye-watering €100 million ($107 million), which is about 10 times the $10 million he paid for the place back in 2002. “It’s very quiet. No advertising. No press—just high net worth [prospective buyers],” they said. Then, just last week, real estate agent Yasemin Baysal, owner of Engel & Volkers Lago di Como, told Italy’s Oggi magazine that Clooney was definitely parting ways with his pad of over 20 years and that the spread might even have a buyer.
“Rumors were also circulating in past years, but this time it’s true. An agency in Milan is following the sale. I can’t reveal which one. Since we have a certain type of clientele, someone has already called us,” Baysal explained to the publication. “In particular, one customer is very interested. We have started all the necessary checks before submitting a possible offer.”
George Clooney has denied reports that he’s selling his 18th-century villa on Italy’s Lake Como.
GIUSEPPE CACACE/AFP via Getty Images
Even though the agent swears it’s true, the two-time Oscar winner has since denied her statement. Oggi also reported that the reason for the rumored sale is because his lawyer wife, Amal Clooney, prefers to spend time in Provence, where the couple owns the 425-acre wine estate Domaine du Canadel.
The 18th-century residence is one of the largest lakeside homes in the area and comprises a whopping 25 rooms, plus a swimming pool, a private gym, a movie theater, a basketball court, and two boat docks. Villa Oleander had previously been owned by the late billionaire condiment heir John Heinz and his wife Teresa; it was Heinz’s heirs who sold the property to Clooney.
According to The Wall Street Journal, homes in the prime waterfront villages along Lake Como are going for twice as much compared to the area’s landlocked properties, mainly because single-family homes on the shore of the pristine lake rarely hit the market. That means, no matter the asking price, if and when Clooney does decide to part ways with his famous villa, we can probably expect a bidding war. More
This stunning AI-designed lakefront home, set in Lake Como, Italy, was designed by Instagram account @aiforarchitects. /* custom css */ .tdi_8.td-a-rec{ text-align: center; }.tdi_8 .td-element-style{ z-index: -1; }.tdi_8.td-a-rec-img{ text-align: left; }.tdi_8.td-a-rec-img img{ margin: 0 auto 0 0; }@media (max-width: 767px) { .tdi_8.td-a-rec-img { text-align: center; } } More
While fans of The White Lotus continue to flock to Sicily for a set-jetting adventure, wealthy homebuyers have a different region of southern Italy on the brain: Puglia.
For those who haven’t been to the heel of the boot, the area is most famous for its traditional stone huts known as trulli, which are strewn across hilltop villages. Elsewhere, rustic, fortified farms called masserias dot the countryside. Today, both types of historic structures are being scooped up by a new crop of luxury property shoppers and reimagined as upscale residences with modern amenities, The Wall Street Journal reported.
With demand, however, comes rising prices. Currently, the median price per square foot in Puglia is about $121. In Valle d’Itria, where hotel rates can reach $26,585 a night during peak season, home prices have jumped 9.2 percent within the past year. Currently, a masseria that was overhauled by a famous Italian actor is on the market for $1.72 million. Meanwhile, two brothers from the Bay Area shared with the WSJ their plans for a two-acre compound. The pair, along with their partners, purchased the 3,000-square-foot home last year for $355,000 and estimate they’ll shell out around $320,000 in renovations between the four of them.
Wealthy homebuyers in Italy are reimagining stone huts and fortified farms into luxury residences.
Michele Bella/REDA&CO/Universal Images Group via Getty Images
Similarly, Paolo Colombo, an architect from Switzerland, doubled down on two hilltop trullis and purchased them for a combined $1.94 million. Afterward, he spent $2.16 million on a full-scale makeover and plans to add a yoga studio and outdoor sleeping areas. Did we mention Helen Mirren also owns property here?
Over in Salento, a 6,500-square-foot masseria was the most expensive sale of 2022, fetching a cool $3.7 million. If a 12-bed, revamped castle happens to be at the top of your bucket list, you can nab one close by for $3.56 million. Ellen Bonaventura, a retired New York attorney, added a rundown Salento palazzo to her real estate portfolio almost a decade ago. Since moving to Puglia, she recalls dropping nearly $500,000 on real estate, an additional $3.22 million on remodeling fees, plus $537,000 on local furnishings, antiques, and artwork. “It was always my dream to have a house in Italy,” she told the WSJ.
Part of the draw is that Puglia has become increasingly easier to get to, reachable either by high-speed train or two different international airports. Of course, another benefit is living in a literal European paradise. More
Having a second home sounds nice. Having a second home in one of Italy’s famed wine regions sounds even nicer.
Many Americans would seem to agree with that statement. Those looking to buy second homes are flocking to Piedmont, the home of Barolo, according to The Wall Street Journal. Diletta Giorgolo Spinola, the head of residential sales at Italy Sotheby’s International Realty, estimates that the number of Americans asking about the area had jumped about 50 percent at her agency over the past two years alone.
Along with its reputation in the wine world, Piedmont was instrumental in the creation of the slow-food movement, and it’s a major area for the hunting and buying of white truffles. That makes it an especially appealing area to buyers with a strong interest in food and drink.
Some are even intrigued by the idea of having their own vineyard. Luca Stroppiana of Langhe Real Estate told the WSJ that vineyards are the new must-have for second-home buyers. He helped facilitate the sale of a $510,000 farmhouse with one to an American couple mainly living in Milan. “We like to drink wine,” said Bryony Bechtold, who bought the property with her husband. “And now we will learn all about the different grapes and how making wine works.”
At Langhe Property, Americans are actually the No. 1 demographic, beating out the British. And an architect in the area told The Wall Street Journal that Americans are now the majority of her foreign customers. It doesn’t hurt that the US dollar is quite strong, and that the pandemic has allowed for flexibility as to where people can live and work.
While enjoying the Italian countryside for a few weeks or months at a time does sound great, the Journal didn’t note how locals feel about the influx of out-of-towners. That’s been an issue in other international locales, like Mexico City, where residents became fed up with American tourists and remote workers earlier this year.
Still, the possibility of animus isn’t turning off the Piedmont-curious. A couple from Kansas who have been visiting Italy for 50 years are gearing up to move the region next year—and even more home buyers seem likely to join them. More
