The Affordable Luxury
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Property For Sale Or Rent: The Affordable Luxury

Italy

Parabita
Lecce
Italy


Property for sale: $220,000 USD  (Negotiable)

Palace For Sale in Parabita, Lecce Italy

THE PROPERTY
• The noble floor of Palazzo del Diavolo (Devil's Palace) and the wing assigned to the servants: it’s an "unique piece" with the flavor of time and beauty
• Situated in the Salento area this historic pre-baroque style Palazzo is a key architectural element of Parabita, a historic provincial town between the Ionian and the Adriatic Seas
• The Formal Level of t...
THE PROPERTY
• The noble floor of Palazzo del Diavolo (Devil's Palace) and the wing assigned to the servants: it’s an "unique piece" with the flavor of time and beauty
• Situated in the Salento area this historic pre-baroque style Palazzo is a key architectural element of Parabita, a historic provincial town between the Ionian and the Adriatic Seas
• The Formal Level of the palace has 5,65 m high ceilings
• All ceilings are either barrel or star shaped "Leccese" vaults
• Walls are one meter thick
• The four large windows of the Formal Level and the two main gates are framed by valuable stonework of sentinel gargoyles
• Every room has a fireplace
• The living space, the courtyards and the terraces unfold on four different levels, orchestrating a fascinating effect of movement and purpose at the same time


LIVING SPACE
• 200 sq/m interiors
• 120 sq/m exteriors, including: two courtyards, three terraces, two balconies


CONDITIONS
• The property is planned to undergo full conservative restoration by an expert team under the direction of Piero Cappelli, architect and Master of Design in the Milan Polytechnic School


INTERIORS AFTER THE CONSERVATIVE RESTORATION
• Three bedrooms, three living rooms, one kitchen, four bathrooms, one laundry/cellar


THE PROJECT OF CONSERVATIVE RESTORATION
•The project is turnkey, i.e. the fully renovated palace will be delivered ready to move in
•All building materials are exclusively local, traditional and top-class
• The project has been approved by the Italian Authority for Monuments Preservation
•The building company has been selected
• Restoration works will take nine months


THE INVESTMENT
• Property acquisition: EUR 180.000 (freehold)
• Restoration works: EUR 190.000
• Total investment: EUR 370.000


THE OPPORTUNITY
• It’s an investment in high quality of life at low cost and with excellent perspectives of revaluation


PRICES AND REVALUATION PERSPECTIVES
• Only quite recently Salento has started to be “discovered�, and it’s still possible to acquire historic houses of great architectural value at a highly competitive price in comparison with the prices in other parts of Italy; the medium-term perspectives of revaluation are therefore very interesting
• The opportunity window, though, will not last long time:historic houses are a very limited number by definition


PARABITA
• It’s a quiet and tidy village of 10.000 inhabitants
• From Parabita the whole Salento area is within easy reach: the Ionian Sea (Gallipoli) is just 7 miles away, the Adriatic Sea (Otranto) 24 miles, Lecce 24 miles, Santa Maria di Leuca (the extreme southern cape, between the Ionian and the Adriatic Seas)is 20 miles


SALENTO
• Salento, the extreme southern part of Puglia (Italy's "heel"), it’s surrounded by two seas: the Ionian and the Adriatic Seas
• The country is mainly covered with olive and orange groves and vineyards
• Gastronomy is highly refined
• The local culture has absorbed an impressive sequence of different contributions, as a consequence of the civilizations that have followed in the centuries, from the ancients Messapians to Magna Grecia, Rome, Byzantium, Hohenstaufen, Anjoux, Spaniards (Aragona) and Neapolitan Bourbons
• Lecce, the capital of the Salento, is the capital of the baroque style as well and it's been called "the Florence of the South"
• In conclusion, it’s a wonderful area because of the Mediterranean synthesis of nature, history, culture, weather, gastronomy and kindness of the people.

HOW TO ACCESS PARABITA
• Brindisi airport (60 miles from Parabita): daily direct connections with London Stansted, Berlin Schoenefeld, Milan, Rome
• Bari airport (125 miles from Parabita): daily direct connections with London Stansted, Muenich, Paris Orly, Bruxelles, Milan, Rome
• Highway Bari-Brindisi-Lecce-Gallipoli
Property Summary
Offered by   Owner
Construction Year   1600
Area   200 m2
Bedrooms   3
Bathrooms   4
Features   Laundry Room, Studio Room, Balcony, Terrace, Patio,
Contact information
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