Demand for property in Puglia is booming. Many buyers see great potential in rental property investments. Our viewing and reporting services will give you an extra assurance about a property’s suitability for rental investment, especially if you are unlikely to view it in advance of making an offer.
Rental Investments in Puglia
Puglia has become famous internationally for its stunning beaches, rolling olive groves, medieval white towns and wonderful food. The high percentage of tourists has also helped the region to develop and Puglia is now served by two international airports.
With an extended tourist season from April to October it has been a fashionable holiday destination for over a decade. Yet many parts of the region remain pristine and undeveloped.
According to a new study from October 2020 by property search portal Idealista, demand for property in the south of Italy is booming, with Puglia showing the highest growth.
Barletta-Andria-Trani saw the sharpest rise in searches for properties for sale, with 60% more searches than at the beginning of the year. The province of Brindisi recorded the best growth in searches for property rentals, also 60%.
This is consistent with findings from overseas property sales-specialist gate-away.com. They reported that Puglia’s most enquired about properties are in Monopoli and the Valle d’Itria, particularly Ostuni. It goes without saying that for rental property investments the best places to buy are the areas with strong and consistent tourist flow. The Valle d’Itria draws mainly foreign visitors with a high financial resource and has a longer tourist season extending beyond beach tourism. Whereas the Gargano and Salento are visited primarily for their incredible beaches.
Insider know how | Ostuni continues to attract visitors - its population more than doubles at the height of summer - because of its proximity to the coast and the rest of the Itria Valley. Carovigno, its lesser known closest neighbour, is becoming of interest; it is seen as offering better value. Whilst Alberobello has the highest concentration of trulli, they are not unique to the town; trulli accommodation in the Valle d’Itria countryside is likely to have a better rental income, yield potential.
About the writer | Scott is originally from the UK but has lived in Puglia for 4 years. He is a qualified solicitor with over 20 years’ experience at leading international law firms, based in their London offices, specialising in real estate investment. He is a successful property investor.