| The first to think about it and to obtain enough success | | | | previously. |
| was the Canadian entrepreneur Peter Gatien, better | | | | The price of this type of properties differs from area |
| known as the king of night clubs in New York. His | | | | to area and the difference can be very wide; for |
| discotheque, the "Limelight" in the Big Apple, was | | | | instance a small church of 170 square metres in |
| opened in 1983 in a deconsecrated church on the Sixth | | | | Florence goes for "only" EUR780,000, another church |
| Avenue. After a few years he replicated in London | | | | of 840 square metres in the centre of Naples is sold |
| where the "Limelight" found its location in a 1754 | | | | for EUR5,000,000. But not only churches are for sale, |
| former Presbyterian church in Shaftesbury Avenue. | | | | on the internet can be found also road mender's |
| Since then the idea to convert properties such as | | | | houses on auction with bid prices starting from |
| former places of worship, but also level crossing | | | | EUR19,000 to over EUR600,000. Definitely more |
| houses, lighthouses, factories and even | | | | peculiar is the sale of the town's slaughterhouse of |
| slaughterhouses into homes has taken hold throughout | | | | Spoleto (Umbria) with a bid starting from EUR2,000,000 |
| the world and has landed also in Italy. Of course we | | | | for a 710 square metre property. Ferrovie dello Stato |
| are not yet in the same situation as the US where the | | | | (The Italian Railways) often put on the market its |
| credit crunch forced churches and congregations to | | | | properties and the railway station of Cervaro (Puglia) |
| put several places of worship on the market, but what | | | | has a starting bid price of EUR9,300,000 whereas to |
| once was a niche trend now is becoming ever more | | | | buy the former school of Chilini Ozieri (Sardinia) are |
| popular. | | | | requested just EUR128,000. |
| According to the last data from the Italian land registry | | | | But beware of what you buy: what seems a great |
| office, under the category "Properties for non- | | | | bargain at first sight not always turns to be as such. |
| residential use" in which are included buildings of | | | | "The buying cost is the least - says Mr Breglia - the |
| worship, but also lighthouses, towers, fortresses, | | | | problems start with the renovation, that can result to |
| stations and even bridges, are only 60,875, just the | | | | be a lot more expensive that expected. In Italy, at the |
| 0.11% of all properties in Italy. But is the rarity of this | | | | moment, nearly nothing can be pulled down and rebuilt, |
| type of properties that makes them so demanded by | | | | then is very important to know all the aspects of that |
| people who want to live in peculiar homes. Can you | | | | property to see if it can be converted into a home or |
| imagine the difference between the charm of living in a | | | | whether there is the chance to negotiate a permission |
| VII century church compared to living in condominium in | | | | with the municipality. Another aspect that must be |
| the outskirt of a big city? | | | | taken into consideration is the location of the property. |
| "To give an economic use to properties that didn't | | | | The rarity of this type of properties makes impossible |
| have that use in the past - explains Mario Breglia, | | | | to compare the price with similar properties to |
| president of the property research and study institute | | | | understand whether the price is fair or not. "If the |
| "Scenari Immobiliari" - it's a trend that is becoming ever | | | | property market in a certain area is lush then there are |
| more popular in Italy. A few years ago the Public | | | | not voids" says Mr Breglia, "in Milan a lot of buildings |
| Property Trust put on the market 362 properties used | | | | are converted into exhibition areas, but the same |
| as summer camps, a third of them were in Emilia | | | | building in another city such as Campobasso can |
| Romagna. After a few years about half of them were | | | | remain unsold. |
| converted into business use, manly into hotels. We can | | | | It is also true though, that whoever convert such a |
| say that in areas where the property market is lush | | | | property into their own home probably take this |
| this type of buildings gains a value that didn't have | | | | decision more with their hearts than with their wallet. |