31 Oct '11, 2pm
Buy an island near Venice for $28 Million
San Spirito Island, situated in a lagoon that is a ten-minute boat ride to Venice’s San Marco Square, is now for sale with an asking price of €28 million. The private island has 3,500 square meters of existing historical structures and the potential of an additional 4,500 square meters of new construction. “The island could become the location of a prestigious hotel or could see the realisation of luxury residential units.” “Investors have the unique chance to customise an island to their own needs,’ said Massimo Saporito, head of Investment Services for Colliers International in Italy. “Furthermore, the local real estate market is dealing extremely well with the economic instability thanks to a solid demand for high end properties,” he added.