We have boots on the ground in Italy…
I’ll come to that in just a moment. First, yesterday I opened the incredible Real Estate Trend Alert members-only deal to own true beachfront homes on Panama’s Pacific Riviera.
And as I anticipated, the response has been extraordinary…
A developer’s render showing the beachfront homes as planned by the developer. Renders shouldn’t be considered final but give you a great idea of how low-rise and utterly beachfront these homes are. I expect gains of $310,000 five years after delivery.
The incredible reaction among RETA members is a testament to how special and rare this members-only deal is.
This was an incredible opportunity to own one of 12 spacious beachfront homes in the unique master-planned beach community of Playa Caracol, on the nicest, closest beach to booming, cosmopolitan Panama City.
Congratulations to the lucky RETA members who got in. I expect these true beachfront home will be worth $310,000 more five years after delivery.
Now, Italy…
Earlier this year, I asked my scout Ciaran Madden to travel to Sicily and dig into the incredible-value real estate in the Italian island’s spectacular hill towns.
Now, we’re continuing this mission on the Italian mainland.
On Sunday, Ciaran flew into Rome and set off to scout overlooked towns and villages right across central Italy.
He began in Ronciglione, a village named the most beautiful in the country for 2023, but where you’ll find real estate for jaw-droppingly low prices.
Ciaran sent me this report from the road…
Ronan McMahon, Founder, Overseas Dream Home & Real Estate Trend Alert
P.S. Have a question for Ciaran while he’s got boots on the ground in Italy? A comment or recommendation? We’d love to hear it. Share it here.
Scouting Italy’s Most Beautiful Village
By Ciaran Madden
Confusion…
That was my overwhelming feeling on arriving in Ronciglione.
This mountain village about an hour north of Rome is on the official list of I Borghi piu belli d’Italia (the most beautiful villages in Italy). Last year, in a competition televised on Italy’s Rai 3 channel, it beat out 19 others—one from each region of the country—to take home the top prize.
That’s no small honor when you consider the scores of charming villages that dot the coasts of Amalfi and the Italian Riviera… the rolling hills of Tuscany and Umbria…the shores of Sardinia and Sicily…
The historic center of Ronciglione is nestled on the slopes of a former volcano.
And yet, when I first got to Ronciglione, I felt a tad underwhelmed. As I began exploring its uneven, cobblestoned main street and the steep, winding lanes and alleys that traverse its old town, I passed faded, crumbling facades…abandoned historic homes…a few long-shuttered stores…
Don’t get me wrong. Ronciglione has all the hallmarks of a charming Italian village—the brightly colored houses with their wrought-iron balconies…the towering, centuries-old churches…the medieval castles and walls…the bright, inviting cafés and restaurants…
But the prettiest village in all of Italy? It seemed a stretch.
Clearly, though, the other visitors in town would disagree with my initial reaction. Most of the tourists I could see in Ronciglione were Italian, a mixture of young couples and groups of retirees. Many appeared to be wealthy day-trippers. I spotted two Ferraris within minutes of arriving in the village.
I trailed a few groups as they followed tourist maps through the historic village…pointing excitedly at local restaurants and pausing to take photos, smiles beaming, of local churches and the 12th-century castle.
What did they understand about Ronciglione that I didn’t?
Time to dig deeper…
At the heart of Ronciglione’s historic center is a 12th-century fortress, which later became a manor house.
Ronciglione is set in the Cimini mountains, on the southeastern slope of a former volcano. From various points around the village, you catch sweeping views of the lush landscape, the mists rolling off the hills.
This settlement is ancient, dating back at least a thousand years…probably more. Five hundred years ago, it emerged as a wealthy manufacturing hub with industries spanning iron, paper, and weaponry. In time, those industries migrated to the cities and Ronciglione reverted to an agricultural economy.
This is how it remains today…
This area is famed for its produce. As I explored the countryside around the town, I passed farms advertising chestnuts, porcini mushrooms, butternut squash… Many of these farms are agri-tourism businesses. One was hosting a pumpkin harvest festival, where families sitting at picnic tables—surrounded by huge, pyramid-shaped piles of the gourds—snacked on pumpkin pastas and soups.
This, then, is a foodie destination.
There are restaurants throughout Ronciglione covering everything from fine dining to casual pizzerias. All the meals I had in the village were spectacular, made from fresh local produce with rich, intense flavors. Particularly memorable was the handmade fettuccine ragu at La Corte dei Prefetti di Vico. It’s among the best pasta dishes I’ve ever eaten.
The insanely good pasta I enjoyed at La Corte dei Prefetti di Vico restaurant on Ronciglione’s main street.
Drive the roads around Ronciglione and you’ll find much more than just farms.
Ten minutes from the village is Lake Vico, among the highest in Italy at an altitude of 1,700 feet.
This is a caldera lake…it sits in the crater of the dormant volcano. The lake and its immediate surroundings are stunning, featuring lush forests with hiking trails, jetties for launching small fishing boats, and family picnic and barbecue areas that run down to the calm, glistening waters.
On one stretch there’s a fine-pebble beach. When I scouted it earlier this week, elderly men sat fishing from the shore in the warm sunshine as families strolled along the beach or dipped in and out of the glassine waters. Truly idyllic.
You’ll find plenty of restaurants along the lake too, serving the same spectacular cuisine. And there are lakefront hotels and residences, with incredible views out to the water.
Locals fish in the waters of Lake Vico, 10 minutes’ drive from Ronciglione.
The more I explored Ronciglione, the more I understood the appeal…
Its designation as the country’s prettiest village reflects the Italian vision of beauty—a deeper and fuller version that extends beyond the mere aesthetic to the lifestyle on offer.
Often at Real Estate Trend Alert, we will research beautiful European towns and villages with stunning homes at highly affordable pricing. But when the question comes to, “what is there to do there?” they fall flat.
Ronciglione is the opposite of this…
It has hiking and cycling in the hills…fishing, canoeing, wind-surfing, and swimming on the lake…so many restaurants in the town and surrounding area that you’re unlikely to ever grow bored of them. Plus, Rome is only about an hour south.
And then there are the festivals…
Ronciglione has hosted a renowned Carnival festival since the Renaissance era. Each February, large numbers of tourists flock to the village to take part in the festivities. There’s also the Palio di San Bartolomeo, a horse race without jockeys that passes through the village, held in the summer on the feast of Ronciglione’s patron saint.
Even on a weekday morning when I was here, the entire main street was closed for a large day market, where traders offered everything from cheap clothes and tacky knick-knacks to local produce, household electronics, and intricate arts and crafts.
In a country where so many towns and villages are in danger of disappearing due to depopulation, this is a place that feels alive.
Vendors sell locally grown produce beneath Ronciglione’s historic town gate.
So, let’s talk real estate…
How much does it cost to own in Italy’s most beautiful village? Well, it can be shockingly affordable.
You can pick up an apartment in the center of the village for less than €100,000.
Below is a two-story, two-bed apartment overlooking the main street. It’s on the market here for just €69,000.
This duplex located right in the center of the village spans almost 1,000 square feet. Listing here.
If you’re willing to take on a fixer-upper, you’ll find numerous options for even less.
This 1,076-square-foot apartment on a landmark street in the historic center is listed at €49,000.
Homes down by the lake are more expensive. This is a desirable spot among Italian families. Wealthy Romans keep summer villas here. I met a local agent who took me to see this spacious villa set on large grounds in a lakeside residential community.
The community dates to the 1960s and has its own residential center with a bar, swimming pool, and tennis courts. There’s also a church just for the community. But everything feels dated, including the property. It would require extensive modernization and it has no lake views.
A better value proposition is to look for a villa back from the lake in the surrounding region. You’ll find stunning, modern homes like these in the €200,000 to €300,000 range. Some for even a tad less.
The villa below is in the countryside between the lake and the village. The exterior could use some TLC, but the interior is modern. And the house is large, with four bedrooms and about 2,700 square of living space. It’s listed at €220,000.
This four-bed villa has a large, well-maintained garden and sits on grounds spanning half an acre. Listing here.
Just be aware, this is a mountainous region and with that comes temperature extremes. The summers can be very hot, the winters very cold…though during my visit this week, the temperature was a very pleasant 65 F to 70 F.
Next up, I’m continuing my scouting in Italy’s interior. I’m heading to mountain towns in the Abruzzo region, including another of the villages on the list of Italy’s most beautiful.
I’ll let you know what I uncover…
Ronan says: Greetings from Las Vegas… I’m in Sin City this week to speak at a few conferences—the Stansberry Conference and Alliance Meeting and the International Living Ultimate Go Overseas Bootcamp.
Here in Vegas, you can easily drop $50,000 on a watch, a roll of the dice, or heck even a fancy handbag. And yet, in Italy’s prettiest village you can pick up a spacious apartment for around the same price tag! I bet the food is much, much better than the Vegas eateries with celebrity endorsements too…and for one-eighth of the price.
Here one of the stars of The Real Housewives of Beverley Hills has her name on a restaurant. And you can take gondola rides at the Venetian. But give me your Italian hill town any day, Ciaran!
I’ve been sharing Instagram stories from Vegas and as one reader responded, “I prefer the real Bellagio on Lake Como.” I couldn’t agree more. (You can follow me on Instagram here.)
Stunning hill towns like Ronciglione are authentic, connected, and they can offer so much to do…an active and healthy lifestyle. And the real estate is wildly affordable.
Your Daily Dream Home
Monteleone d’Orvieto, Umbria, Italy
This charming four-bedroom stone and brick house sits in a private hillside hamlet and has 1,300 square feet of living space across three floors. The first floor has a kitchen with fireplace, living room, and a mezzanine-level bathroom with shower. Two double bedrooms and a southeast-facing terrace occupy the second floor, while two additional double bedrooms and attic access can be found on the third floor.
The property includes 8,600 square feet of private land, including covered parking, a wine cellar, a grotto, and an outbuilding with a traditional wood-fired oven. Recent improvements include a renovated roof.
The home is in Monteleone d’Orvieto, a medieval fortress town perched atop a hill in southern Umbria. The town’s 13th-century walls still stand guard over a landscape of undulating olive groves, vineyards, and cypress-lined country roads
The area’s volcanic soil produces exceptional olive oil, and visitors can participate in seasonal harvests and explore the network of ancient Etruscan tombs carved into the surrounding tufa rock.
