Coinciding with the opening of the 56th Venice Biennale, 50% of apartments at Palazzo Molin, the 15th century residential conversion in San Marco, have now been sold as sales momentum rapidly picks up.

Molin in Venice
The 15th century Palazzo Molin in Venice has recently undergone major conversion into 17 elegant apartments

As art aficionados from around the world flock to Venice for the biannual art exhibition, sales agents Venice Sotheby’s International Realty reported a year-on-year rise of 20% in enquiries for prime real estate in Venice. In particular, demand for highly specified properties in a central location has increased, as buyers look to turn-key solutions over restoration projects.

Coinciding with the opening of the 56th Venice Biennale, 50% of apartments at Palazzo Molin, the 15th century residential conversion in San Marco, have now been sold as sales momentum rapidly picks up.

Ann-Marie Doyle of Venice Sotheby’s International Realty, said: “The market in Venice is very active at the moment, especially at the top end with clients seeking prestige properties with a high quality finish. Buyers from the UK, France, Germany and Austria have been key players in the Venetian market for years and this international interest has remained strong.

“However, in 2015 we have seen a noticeable rise in demand for prime properties priced between €3,000,000 and €10,000,000. Notably, US buyers are now returning to the market due to the advantageous exchange rates.”

Palazzo Molin, which completed last summer after an award-winning restoration and refurbishment, has been converted into 17 highly specified apartments that combine classic Venetian architecture with contemporary design. Located minutes from landmarks such as Piazza San Marco and the Fenice Opera House, apartments in the historic palace have been bought as second homes and buy-to-let investments.

Interior of apartment
An example of an apartment in the Palazzo Molin, with high ceilings, air conditioning and home automation systems

Ann-Marie added: “While Venice is not a traditional ‘buy-to-let’ location, it is a city where buyers can have the best of both worlds – a second home in one of the most beautiful cities in the world, as well as strong rental investment potential. There is an ever-increasing demand for prestige short-term rental apartments in Venice and this, coupled with the shortfall of top quality apartments that appeal to a sophisticated international clientele, is driving the high-end rental market. Visitors, and indeed buyers, come to Venice for its rich cultural offering, and events such as the Biennale reaffirm its timeless global appeal.”

Venice Sotheby’s International Realty, the agency specialising in historic property in Venice, is exclusively marketing Palazzo Molin. Prices range from €870,000 to €2.6 million; the main piano nobile apartment is price on application Those interested in visiting the development should contact Lorenza Savini at www.venicesothebysrealty.com

About Palazzo Molin

  Palazzo Molin is a collection of 17 elegant apartments in a converted 15th century listed palazzo, moments from La Fenice Opera House and St Mark’s Square at the heart of Venice.

  The development combines classic Venetian architecture with contemporary design and facilities, which is a rare proposition in Venice.

  Listed by the Belle Arti, the main façade on the Barcaroli canal is of important artistic value and an excellent example of the Gothic Fiorito style

  In 1771, Wolfgang Amadeus Mozart stayed at Palazzo Molin during a visit to Venice; it is thought that the owner of Palazzo Molin, the infamous Count Francesco Falletti Castelmar, inspired the legendary character of Don Giovanni in Mozart’s famed opera

  Hidden behind the original Gothic facade, the apartments have been designed for modern living and have high ceilings, marble bathrooms, air conditioning and home automation systems

  Residents have access to an extensive private courtyard, as well as a concierge, maid and private water taxi services on request

  A rare investment opportunity in the short-term, high-end rental market, with strong rental yields of circa 5%.

  Palazzo Molin is an exclusive partner of Save Venice: www.savevenice.org