Now, this tells you a lot about Piedmont - it's the first time that Lonely Planet has nominated one of Italy's 20 regions a number one place to visit. We're not surprised, it's a fantastic place we feel privileged to live in.
But what's it going to do for the region?
Tourism is already on the increase. We were in La Morra and Monforte last weekend and in the 16 years I've been here we've never seen it so busy. Visiting the Alba International Truffle Festival too and speaking to business owners there they all had the same story - visiting are up but at least double over last year.
Top tip: visit the Langhe towns on weekdays, it's much quieter.
What about house prices?
Ahhh... now, this is going to be interesting. We get a lot of what we call tyre kickers. A Tyre Kicker is a person who pretends to be interested in purchasing an item (especially a car), but who has no intention of buying it, but we use the same term for 'house buyers'. Brick Kickers perhaps..? Every agent in the world gets them I guess. But we also get the doubters - 'shall I, shan't I?' I think there will be some big regrets in this category as some of the things that come on the market are no-brainers. But buyers can be very picky, wanting something that doesn't exist or having ideas way above their budget.
Homework is essential and to realise that there are a lot of houses for sale around €250k but they're in less than beautiful areas, need major works, they're probably the worst investment you'll ever make. But don't let me stop you. Knock yourself out then come to us ;-) We don't take on these things as it just wastes everyone's time - yours and mine - and life is too short for that.
Many think that buying a house and pouring huge amounts of money into it is a sure investment. It's not. You have to choose the area very carefully. If that will change in the future I don't know. I really doubt it because the difference from the north and south-east Asti areas to the north Langhe are huge. They have completely different landscapes and feel to the Langhe area. Keep in mind that these holiday homes are often sold again - people's lives change - so they decided to sell and want their investment back. Well, if you choose the wrong type of house, wrong area and restore in the wrong way you probably won't be able to sell it, let alone get your money back
Rental homes are a great way to go
Now, some really good news. There's already a huge demand for rental homes and demand will increase dramatically. We were speaking to a tour operator in the region this week and he's desperate to find homes for rent in the Langhe. He needs places for his clients to stay. Do you want to invest well in the Langhe? Buy a house in the Barolo area or within 45 mins of it and rent it out. Apartments are a great option too.
What about buying a B&B or Agriturismo? I've stopped taking them on now.. Owners, having put a lot of money into them and after working their socks off for years, want it all back but realistically the property is worth the value of the property and nothing more. We saw something recently close to Canelli, nice spot, house ok. They wanted no less than €650K. The property's worth €350k max.. They'll never sell it. So, if you want a B&B I would suggest you find the right house and convert it.
So, in conclusion, I think prices will go up, a lot, but only in the right areas. Some parts of the Monferrato but Langhe is the hotspot now and I think always will be. Don't ignore places around Mango for example. We've sold many houses there over the years. It's right on the doorstep of Barbaresco and 30 minutes from Barolo, and the drive across those hills is spectacular. If something does come up in any of the Barolo towns it's well worth a look. Prices are going to go stupid. Don't say I didn't warn you.
