This Medieval Village Is Selling For Just $760,000
While a house in Sydney could set you back $1 million, over in Italy you could buy a whole medieval village for about AUD$760,000.
The village in question is called Valle Piola and is in the hearth of Gran Sasso National Park, in the province of Teramo, in the Abruzzo region of central Italy. It has 12 buildings in the city centre, dating back to the 1200s, as well as a church. It also includes a water mill and three older buildings that form interconnected houses known as “Case Menghini”.
Valle Piola has been deserted since the late 70s, but recent interest from National Park authorities in Italy, as well as architects, surveyors and business consultants, have led to a campaign to revive it. Starting with selling it as a “business opportunity” for anyone and everyone.
According to the Rebuild Valle Piola website, the site is ideal for a boutique hotel or retreat.
“Thanks to its location, the village offers peace and quiet and amazing views on valleys and wide forests covering the surrounding mountains can be enjoyed,” it says.
“Valle Piola can be restructured and turned into a boutique hotel with a swimming-pool strategically placed to let guests enjoy a breathtaking view.”
Buyers may also be eligible for regional, national and European funding that’s available to “recover mountain areas”, including support from a recently introduced regional law designed to support the conversion of abandoned villages into boutique hotels (how many of these villages are there?!).
Rebuild Valle Piola says that there are many examples of successfully reconverted villages-cum-boutique hotels in Italy, such as Santo Stefano di Sessanio, Matera and Alberobello. The big difference, from a property investor’s perspective, is that these successes were based on inhabited villages. But Rebuild Valle Piola says that the village’s “peculiarities” could also become part of its success.
“Valle Piola is located in a natural amphitheatre where Rio Valle springs, which is characterized by a sense of peace and quiet. Moreover, main alpine skiing resorts which are on the East side of Gran Sasso Mountain can be easily reached,” it says.
There are also plenty of opportunities for cross-country skiing in the area, and in summer it transforms into a beautiful location for hiking, mountain biking and horse riding.
“These features make Valle Piola an ideal solutions for those willing to be in contact with nature, in a unique set, either relaxing or practicing sports,” Rebuild Ville Piola says.
“Of course, other integrations can be considered: wedding parties, local wine and food tasting events, artisan shops and beauty [spas].”
With a history that dates back to the 11th century, Valle Piola could also be a tourist destination for medieval enthusiasts. So, anyone want to develop a Game of Thrones theme park in Italy right about now?