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Properties over €500,000

These properties are being offered at a finished cost of € 3.000 per square meter, as work progresses and units are sold the price will increase by € 250 per square meter every three months, eventually arriving by the summer of 2009 at a price of € 5.000 per square meter. This pricing arrangement gives prospective buyers the opportunity to buy at a discounted price whilst work is being undertaken, and monthly payments are acceptable with a deposit of 25% of the total purchase price. An ideal opportunity for an investor to “bed & breakfast” the units, by paying the down payment and the necessary monthly payments and return the property to the market in order to obtain a profit on the appreciating values.

The choice of units, and their sizes, between 80 and 200 sqmt, will be adjustable, at the wish of the client, until eventual finalization of contracts. All units have an individual, landscaped and private garden.

This wonderful property is the culmination of several hundred years of endeavor by local farming families to create a habitable and defensive position for themselves and their animals. The buildings which cling to naturally occurring outcrops of rock are built in the typical country style onto, above, below and beside their neighbors, giving, from a short distance, a delightful juxtaposition of roof levels and lines.

Because of the proximity to the internationally known Etruscan and artistic center of Cortona, in Tuscany, home of the Tuscan Sun Festival, and the setting for the book “Under the Tuscan Sun” the property would lend itself for use as holiday accommodation either for those seeking spiritual retreat or those wishing to immerse themselves in the artistic and architectural ambiance of the surrounding area. A high rental potential is another attractive feature of the property.

The properties are to be fully restored and will be brought up to the highest northern European standard. The final finish, fixtures and decoration will be of excellent quality and prices will include, externally, landscaping, car parking areas, tennis court and swimming pools. A management company will be appointed to take on the maintenance of the communal landscaping, car parking areas, tennis court and swimming pools and maintenance of the 40.000 metres of parkland. The grounds include walnut and fig trees, blackberries and grapes as well as a natural spring.

The opportunity to purchase now at a heavily discounted rate should not be easily ignored if you are really serious about buying in this area. A 25% deposit is required and 24 monthly equal payment are to be made as building work progresses.

Electricity: yes
Local Town: Cortona 15km
Drainage: sump
Title: Freehold
Condition: to be restored
Sizes: 80 -200 sqm.
Water: yes
Road: good
Extra land: may be negotiated
Land: 40,000 sqm approx.

If you are interested in this property, please use the reference 'PU-556a' in all correspondence