Italy
FOR SALE €2.2m
FOR SALE €410k
At the foot of a hill just outside the historic centre of Berchidda, this early- 20th-century, four-bedroom villa has frescoes, a private chapel and a panoramic rooftop terrace, as well as 13,000sq m of land suitable for a
small vineyard. It' s €410,000 through Live in Sardinia (00 39 345 345 4394)
named Costa Smeralda. The area was an instant hit with both the Italian and the international jet set. Actors such as Vittorio Gassman, Catherine Deneuve, and Brigitte Bardot, industrial tycoons such as Gianni Agnelli and Aristotle Onassis, and even kings (Juan Carlos I of Spain) turned the area into the summer setting for their dolce vita. Fifty years (and an airport) later, the coast remains hugely popular, drawing anyone from fashion designer Roberto Cavalli to Italy' s prime minister Silvio Berlusconi, who spends part of his time at the gigantic Villa Certosa in Porto Rotondo.
` When people think of Sardinia, they
think of Costa Smeralda, even if they don' t know where exactly it is,' says Rupert Fawcett of Knight Frank. The local archi- tecture is undeniably unobtrusive (no electricity or phone cables, or advertising bill- boards are visible anywhere). ` Each house is recognised as being by a specific architect, and the strictness of planning measures has made the coast what it is,' explains Mr Fawcett. The area' s hectic social life may not be everyone' s cup of tea, but those who wish it can easily lead a low-key life, and still get to enjoy the exceptional sailing and the jaw-dropping seascape. Even though sales were ` very low' in the
past couple of years and people are ` no longer paying silly money,' according to Mr Fawcett, ` confidence has come back to the market' and values remain on the dizzying side. This is partly thanks to an influx of extremely wealthy buyers from the former Soviet bloc. The Russians ` are scrambling to purchase the relatively few seafront villas at any price,' according to Savills' associate
60 Country Life International, Summer 2011
FOR SALE €1.5m
Cannigione This stazzo-style villa with sea views is situated in the countryside near Cannigione, one mile from the nearest beach and close to the Costa
Smeralda. €1.5m through Live in Sardinia (00 39 345 345 4394)
Lawrence Camillo, who knows of a house that exchanged hands for €120 million. Giancarlo Bracco of Christie' s Inter-
national Real Estate' s associate Immobil- sarda says that ` prestigious waterside villas
in Porto Cervo or Porto Rotondo start from €30 million. Elsewhere, they can range from €2 million to €20 million' . Second-row homes are more affordable, but by no means cheap. In the highly sought-after area of Romazzino, says Mr Camillo, ` they' ve jumped from €6 million last year to €10 million this year.' Even apartments in key locationsÐ which are becoming increasingly popular, according to Gemma Bruce of Aylesford InternationalÐ cost around €1 million. Partly because of these extraordinary
prices, Costa Smeralda today is mostly the preserve of a few, very wealthy foreigners
and mainland Italians. Local buyers, and anyone else without a multimillionaire budget, tend to flock to other destinations, either on the Costa ParadisoÐ a stretch of coastline a couple of bays north of Costa Smeralda that' s popular both for its extraor- dinary seascape and for the great selection of properties at reasonable prices, accord- ing to Linda Travella of Casa Travella estate agentsÐ or closer to the island' s two main cities, Cagliari, and Sassari. Although long established among Italian
buyers, these markets are only just opening to international business. ` It may be a while before we see real interest outside of Smeralda, but the rest of Sardinia will cer- tainly become more of an international destination,' s ays Mr Fawcett. In the south of the island, many of the
www.countrylife.co.uk/international
Costa Smeralda In Costa Smeralda' s Parco del Pevero, a new, luxurious development features two- to four-bedroom villas designed by Jean Claude Lesuisse, set in Mediterranean parkland. Prices range from €2.2 million to €4.5 million depending on size (through Immobil- sarda, 00 39 0789 909000)
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