Prices for luxury properties in Venice reached €14,000 per sq. m. Many developers rework townhouses into apartments, actively purchased by foreigners, says the ee24.com with reference to the Venetian office of Engel & Völkers.
Luxury apartment in Venice are mostly purchased by the citizens from United Kingdom, France and Germany. According to local realtors, the demand for "elite" is growing mostly among foreign investors who chose real estate in places like the central area of San Marco, the artist’s quarter and the most southern Dorsoduro district, the largest city’s district Castello and neighborhoods of Giudecca Canal.
Let’s recall that Venice takes the first place in the ee24.com’s rate of "Top 10 of the safest places in Europe for property investments." The lower value threshold for the apartment in Venice is about €750,000. Housing in the city will always make a profit from renting out to tourists.