Sardinia and Cortina boast some of the worldââ¬â¢s most expensive luxury homes.
If you had to guess where the most expensive urban property in the world was located, you might think that parts of England, the USA or France were sure to make the shortlist. While new research has found that some areas of France boast the most expensive prime properties on the planet, only Italy can rival France for the number of non-urban locations for luxury, expensive property.
Sardinia boasts most expensive luxury property in Italy
In 2011, Italy boasts five locations within the worldââ¬â¢s top 30 non-city property hotspots, according to the latest Knight Frank Prime International Residential Index. The Index monitors the prices of many of the worldââ¬â¢s top property markets and has found that in certain areas, property in Italy is among the worldââ¬â¢s most expensive.
The research found that Italyââ¬â¢s most expensive luxury home is in Sardinia’s Porto Cervo, a marina on the EmeraldCoast. Prime waterfront property in this location rarely sells for under ââ¬50 to ââ¬100 million (ã44 to ã88 million).
Jelena Cvjetkovic from international property company Savills said: ââ¬ÅTop prices in Porto Cervo’s Via Romazzino are at least $42,000 (ã26,000) per square metre. The holiday homes of many of Italy’s wealthiest people (as well as those of Russian billionaires) are located on this street.ââ¬Â
Cortina the choice for luxury winter property in Italy
In terms of winter destinations, the resort of Cortina has long been the favoured destination of Italyââ¬â¢s wealthy. Once a stop for 18th century Grand Tourists, the price of prime 18th and 19th century buildings has now risen to ã13,388 per square metre.
With the beautiful Dolomite mountains as a backdrop, the resort boasts higher average prime property prices than Méribel in France.
Elsewhere in Italy, property on the shores of LakeComo now sells for an average of ã8,490 per square metre whilst properties in Tuscany sell at around ã5,950 per square metre.
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