by InTrieste
Trieste is becoming increasingly popular among foreign nationals in terms of real estate investments. We have elaborated on the subject with Antonio De Paolo, chairman of Gallery Real Estate, a leading agency on the local market for almost 40 years.
Why have property investments in Trieste become so appealing to foreigners?
A: First of all, the town is being discovered by a growing number of tourists also thanks to the cruises and to some international marketing campaigns which contributed to making it “appear on the map” and becoming an increasingly popular destination. Most of the visitors undoubtedly end up falling in love with our town not just for its undisputed beauty, unique charm and the sea, but also thanks to its quality of life, the perception of safety and the fact that it’s becoming more and more a cosmopolitan place with a vibrant atmosphere. Definitely now it feels like Trieste is the place to be.
But what exactly makes foreigners wish to invest in this town? This is what we asked Alessandro Alessio, one of De Paolo’s brokers who spent many years abroad and has a long-standing experience in international real estate
As a local who spent many years abroad and eventually returned to Trieste in recent months, I myself can’t help noticing how different the town has become over the last few years. I think most of its visitors feel that it’s a place and a lifestyle they wish to become part of. Obviously everybody appreciates its strategic location: within a couple of hours’ drive they can get just everything they may need… mountains, beaches, lakes, Slovenia, Croatia, Austria as well as Venice, just to name a few options!
True.
But most of all the average property prices in the area are still seen as affordable and competitive if compared with their hometowns, but even in comparison with other medium-size Italian towns, let alone sea or mountain resorts. This of course plays a key-role for most of our typical clients, but not for all: some of them choose Trieste as their dwelling place when they retire and are ready to spend any budget because they label it as their ideal destination. The same goes for many “digital nomads”, most of whom sell their homes in their countries of origin to became full-fledged “Triestini” in their own right! Furthermore, for those who live and work in other countries and wish to secure a place in our town as a pied-a-terre for when they are able to spend here one or two week-ends every month, it’s plain to see that while many renowned tourist destinations in the area have something to offer just for a limited number of months during the year, Trieste does not know any off-season, because basically there is always something going on and can be regarded both as a city of art, as well as a summer destination. Most of them probably even end up missing the “bora” when they go back home.
Is there any specific project which in your view could be a good compromise for both locals and foreigners alike and which you would like to tell us about?
There is indeed.There are houses, hidden gems far from the madding crowds, which retain the spirit of a long-gone time. While strolling in the Old Town of Trieste even the most scatterbrained passer-by cannot help noticing the magniloquence of a building whose looks, remindful of the late Middle Ages, would harmoniously blend in a tale of fairies and queens. It was the early 20th century when a rich carpet merchant of Armenian descent, Haggi Giorgio Aidinian, commissioned the construction of a new house to one of the most talented architects in town, the much-acclaimed Ruggero Berlam.
There’s history everywhere you look in Trieste.
Yes. That is when our story began… the birth of the House of Haggi, “Palazzo Haggi”. As time went by, that monument of stone stood there like a celebration of the family’s grandeur. Within those walls the days of many lives were spent, the aspirations of many souls were consumed. But like the tide that knows ebbs and flows, the destiny of men is a rise and fall. The glory days of yore gradually waned into oblivion and for many winters the house stood there neglected and forlorn. Then came a new summer… and the beginning of another chapter of our story. The House of Haggi is being reborn again and will be thoroughly restored with the aim of creating 22 charming residences, some of which will have their own small gardens or terraces. Through those mullioned windows will pierce once more the sea-flavored breeze while in the airy halls the echoes of children’s laughter will be heard again. The hanging gardens in the back of the house, nestled on the flank of the hill of San Vito, will be pervaded once more by the smell of spring. Another Old Town jewel will be brought back to its former splendor.
