Notes on small islands

With its saltwater lagoon, gondolas, canals and architectural splendour, Venice is irresistible to many travellers.

Not surprisingly, house buyers have a harder time accessing the city than tourists, since most Venetian properties come with a prohibitive price tag. However, away from the urban centre there are several more affordable buying opportunities.

A few kilometres from the main archipelago of Venice are the small islands of Burano, Mazzorbo, Murano and Torcello. Each has its own natural beauty, architectural character and historical interest. Yet this quartet represents only 2 per cent of the Venetian real estate market, according to estate agency Frank Knight International.

“The main reason is the remoteness from the historical centre. These islands are between 20 to 40 minutes away by boat and don’t really make the ideal buy-to-let investment,” says Franco Bombassay, managing director of the Venetian division of FKI.

Their relative seclusion means that properties can still be bought for up to 40 to 50 per cent less than in Venice. Prices start at €3,700 per sq metre compared with €8,000-€18,000 in the city centre, according to Enrica Acerboni of the Centro Casa Venezia estate agency.

The range of properties is also wider. “There is everything for everyone’s appetite, from fishermen’s houses, rural houses, modern apartments, to Venetian-style historical villas with gardens and lands,” says Bombassay. “Most people would prefer to stay a short hop away from the centre. As such, only certain foreign buyers would be drawn to these little paradises.”

Judith Grieve, 36, and her Italian husband Massimo Bovo, 37, ditched their demanding jobs in Edinburgh to embrace a slower-paced lifestyle on Burano.

“We grew tired of our hectic life in Scotland and decided to move to Massimo’s native island,” Grieve says. She and her husband now run a restaurant, La Trattoria del Gatto Nero.

Seven years ago, the couple bought a two-bedroom flat in a canal-front, red-painted fisherman’s house for €150,000. It has proved a good investment: “Now the property is worth twice as much,” Grieve says.

Criss-crossed with narrow canals and alleys and surrounded by tiny fishing harbours, Burano is a charming place with a modest population of 30,000. And despite being popular with day-trippers, it retains a village-like atmosphere.

“It is like living in your own bubble. It is such a peaceful, self-contained place,” Grieve says. “We get daily fresh produce from the neighbouring island of Mazzorbo and fish from the local fishermen.”

French designer Philippe Starck was so smitten with Burano that he bought several properties.

“I have been visiting Burano for 30 years,” he says. During those three decades he has come to see the island almost as a utopian society. “There isn’t such distinction between the rich and poor. Every night everyone gets together in the main piazza to reveal their sins.”

Burano has however had a brush with Hollywood: “Brad Pitt, Cameron Diaz and Naomi Campbell have all stopped at our trattoria,” Grieve says.

Neighbouring Mazzorbo – the two are linked by a small bridge – was once an important trading centre known for its vineyards and orchards.

It doesn’t enjoy the same popularity with day tourists as Burano but it will soon have its own cultural attraction. A project headed by the Venetian council and Bisol, a local wine company, is set to rejuvenate Scarpa Volo, a disused 15th century walled vineyard. It will be replanted with old types of Venetian vines.

“The estate, which comes with its own farmhouse, will be turned into an agriturismo with hospitality for visitors and lectures on the oldest Venetian wine tradition,” Roberto Bisol says.

Most of the properties in Mazzorbo reflect the island’s rural feel and have gardens or tiny vineyards. “Prices there are slightly cheaper, starting from €3,700 per sq m,” Acerboni says.

Closer to Venice is Murano, which, like Burano with its lace-making craft, boasts its own unique trademark in the thriving trade of mirrors and glasswork. This tradition dates back to the 13th century and is today a tourist magnet.

“Foreign demand for properties in Murano is less than in Burano, yet homes are more expensive, selling for €4,500 per sq metre,” Acerboni notes. “This is because there are numerous glass factories with many employees. High demand from well-paid locals pushes prices up.”

Centro Casa Venezia is selling a two-bedroom Murano apartment with a garden by the public boat station (known as the embarcadero) for €350,000. Though prices are high, the clash of architectural styles and the presence of factories mean Murano is not quite as picturesque as Burano. But the diversity of building styles can be seen as an asset: “there’s a mixture of fishermen’s houses, modern buildings and houses with gothic overtones,” Acerboni says.

The island that most resembles Venice is Torcello but it is also the furthest away. It was once a playground of the rich and famous. Author Ernest Hemingway spent some time there in the late 1940s, while American heiress Barbara Hutton threw lavish parties at the renowned Taverna Cipriani, which has also hosted Queen Elizabeth, Winston Churchill, artist Marc Chagall and actors Kim Novak and Charlie Chaplin.

Today the island is on the tourism trail because of the beautiful seventh-century cathedral of Santa Maria Assunta (and the still-running Taverna Cipriani). Torcello also has a handful of impressive 15th-century palaces, which belong to the Venetian council and to some of the oldest local families.

Stefano Naidi, director of estate agency Abitare, says that finding a home on the island is not easy. “There are in fact only 15 [full-time] inhabitants and properties don’t often come to the market.” Abitare is selling a 310 sq m canal-front, 18th-century house with an 830 sq metre garden and a private berth for a negotiable price.

Torcello can be reached by public transport but “you would be better off with your own boat,” Acerboni says.

“This is the perfect place for people who really want to be away from the beaten track, the atmosphere in the island is magic. There is an Englishman who lives there all year round.”

But Burano, Mazzorbo, Murano and Torcello can all offer more than just escape from the hubbub of Venice.

“Such islands all benefit from the strength of Venice’s property market, which has had a steady upward growth for a very long time,” Bombassay says.

Given the shortage of hotels, properties there can be rented on a short-term basis to day-trippers who want to extend their visit. Acerboni says: “You can make up to €100-150 a day, still a sound buy-to-let investment.”

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Local agents

Venice Real Estate, tel: +39 0415210 622; www.venicerealestate.it

Abitare, tel: +39 0419641 916; www.abitareweb.it

Centro Casa Venezia, tel: +39 0415239 958; www.centrocasavenezia.com