IN the overseas property market, Italy continues to retain a certain exclusivity, unlike other over-developed regions in the Med. And the Lake Garda area, in northern Italy, is particularly classy.
A five-star turnkey development, Padenghe 5 Star Village is marketed in Ireland by Imagine Property Network Limited and sure to attract investors and holidaymakers alike. Lake Garda is one of the country's busiest tourist areas, and not just for lovers of scenic beauty.
There are no less than six golf clubs accessible from this new development which is located just 150 metres from the lake itself.
Outdoorsy types will also appreciate the swimming facilities on site . . . one large communal outdoor pool, and also a covered-in pool, as well as several tennis courts.
For younger holidaymakers, the huge Gardaland theme park elsewhere in the region provides plenty of thrills and fun days out. The properties are designed on the lines of a typical Italian villa and within lushly planted gardens.
Prices start at 226,000 for a onebed apartment of 53sq m (including terrace). Two-bed apartments start at 348,000 with 107sq m of space (including terrace). The turnkey factor includes a fully fitted kitchen, white goods and a full furniture pack. A covered parking area costs an extra 18,000 (including VAT), while a separate garage costs 30,800 (including VAT).
According to Liz Maher, who heads up the Imagine Property Network operation, "The Irish have a particular affinity with Italy. Up to recently it was considered almost impossible to avail of a holiday in Italy due to the huge expense involved. Now with low-cost air fares in place, Italy has become more accessible to Irish holidaymakers and, indeed, property investors.
"The company also specialises in properties elsewhere in northern Italy, including Lido di Jesolo in the Veneto area and also Sardinia. Demand for lifestyle property in these areas has soared in recent times, says Maher, with annual capital appreciation in the region of 7-8%.
Rental expectations for the new Lake Garda development will be in the region of 600-800 low season, and 1,2001,500 high season, she adds.
The hotel within the development will consist of 24 luxury suites, offering a high standard of accommodation.
Padenghe is located between Descensano and Moniga.
On the southwestern corner of the lake by a natural basin, Descensano is not so touristy as towns on the eastern lakeside. Moniga is situated further inland surrounded by olive trees and is home to a 13th century castle. The nearest airport for the region is Verona.
Bergamo and Milan airports also give good accessibility.
For more information contact Imagine Property Network 1850 200 780; www. ipn. ie.
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