CO-OWNERSHIP AT PALAZZO RICCI STARTS FROM £84,000
Imagine dividing up your holiday time between your farmhouse in Tuscany, your villa on the French Riviera, your Mallorcan townhouse, your cottage in the Cotswolds and your apartment in Chamonix. Instead of dealing with the hassle of renting such properties, or the upkeep of owning each one of them, you just turn up and everything is ready and familiar.
For Italophiles, a restored palazzo in the hilltop village of Casoli in the Abruzzo region is another option. Co-ownership of 14 different sized residences at Palazzo Ricci starts from €95,500 (£84,000) for 5.5 weeks a year, with running costs from €2,500 (£2,200) per annum. Forty of 126 fractions have so far sold, especially to Americans, says its Utah-based founder, Mike Brosnan: ‘Yes, many of the owners – the “rational rich” – could have afforded to buy a whole property in the region, but the value of this scheme lies in the fact it’s hassle-free and best-in-class.’
— Written by Liz Rowlinson
Liz Rowlinson is a property writer and Editor of A Place in the Sun