Many people dream of owning a second home overseas where they can spend afternoons basking lazily in the sunshine, filling up on local delicacies and enjoying happy memories with their family and friends. What many don’t consider is the amount of work involved in maintaining a property that is only used for several weeks of the year, or the on going costs.

It’s not just about cleaning, though of course a holiday home will need a thorough spring clean each time it is used. It is the maintenance that catches many people out. The fact that the garden does its best to turn into a rampant wilderness between each use, or that a freak storm took off some of the roof tiles on its way past. Suddenly, the dream of lazing about in the sun for days on end transforms into a reality of sweating in a poorly ventilated hardware store while leafing frantically through a travel dictionary to work out which product will repair that cracked window frame and which will accidentally dissolve it.

For many families, the experience has led to the conclusion that whole ownership has become passé in this day and age when there are alternative options available. Fractional ownership presents a much neater solution, allowing them to enjoy a fully managed property that allows them to relax from the moment they arrive.

Fractional ownership also enables the purchase of a much more luxurious property than whole ownership, as South African Jane Thomas observes,

“We loved the idea of a holiday home in Italy but the logistics of owning from South Africa seemed too difficult. What we wanted and what we could afford didn’t really add up.”

Luxury fractional ownership company Appassionata provided the perfect solution. Jane’s family and their friends purchased a share of the five bedroom Casa Leopardi, set on the pretty Giacomo Leopardi estate in rural Le Marche. The fractional nature of the property means that they can begin enjoying Italy as soon as they have set down their cases. While those who own second homes outright are beginning the process of airing out the property, disposing of spiders and checking for damp, Jane can sip Casa Leopardi’s own wine on a lounger by the pool.

Not only is whole ownership passé, but fractional ownership itself has evolved, with the concept of urban fractional taking off, as owners seek to experience real life in the country of their choice. Appassionata’s founder, Dawn Cavanagh-Hobbs, explains,

“Feedback told us that owners wanted to be a part of Italy’s beating heart, not just observe the country from the side-lines, so we knew we had found the perfect property when we came across Casa Tre Archi. As with all of our properties, it required extensive renovation work in order to turn it from a run-down and neglected townhouse into a luxury holiday home, but we persevered and those who have already bought shares have been delighted with the result.”

The trend for urban Italian properties is one that Jane Smith of local estate agency Magic Marche has also observed. She comments,

“Townhouses have definitely returned to popularity. We have seen the re-emergence of people looking for a pied a terre, somewhere for weekends and short breaks throughout the year; somewhere to immerse yourself regularly, almost at whim, in Italian culture, without the cost of running a big country house with land.”

Appassionata’s Casa Tre Archi is located in the medieval hilltop town of Petritoli. Owner Chris Everard from the UK describes the property best,

“The four-storey Tre Archi house in Petritoli, built into the mediaeval wall of this delightful hilltop town, made everyone smile with joy as we walked in to explore and as ever with Appassionata, it exceeded our expectations. The attention to detail, the luxury of a smart TV, broadband and three bathrooms makes the living experience relaxing, fulfilling and a joy to share.

“Turn right out of the front door walk underneath the mediaeval walls and arches past Andrea’s restaurant and up towards the Tre Archi bar. Stop for a cup of tea, a home-made ice cream, coffee with a croissant in the morning or enjoy the evening sunshine with a wind down beer or wine. Carry on into the village centre and you will find 2 or 3 other great bars, a very well-stocked supermarket, pharmacy, bank and a number of other restaurants.”

Casa Tre Archi’s spacious roof terrace allows owners to enjoy views of the beautiful countryside as they dine al fresco, with the chiming of local church bells and the happy noises of town life creating the perfect aural backdrop. Its owners delight in being able to immerse themselves in Italian life and in enjoying a far more luxurious property than whole ownership would allow. As Appassionata’s Dawn concludes,

“Why let your budget limit your second home dream, when with a little imagination you can enjoy owning a share of a luxury property from as little as £65,000. Fractional ownership is the perfect solution for those who want to spend their holidays having fun and let someone else take care of the cleaning, garden maintenance and minor repairs. For many of us, our time on holiday is limited. Fractional ownership ensures that families and friends can enjoy every minute of their time away.”

For more information visit www.appassionata.com, email India on ifh@appassionata.com or contact the Appassionata team on +39 33154 13225.

Michael Hobbs has just returned from India. The property entrepreneur, who founded luxury fractional ownership company Appassionata with his wife and family back in 2005, was part of a team of five friends known as the Bullet Boys.

Together, the Bullet Boys undertook a 2,000 km endurance ride through southern India on Royal Enfield Bullets in order to raise money for the Adventure Ashram charity, which works to help the poorest people living in southern India and the Himalayas.

The aim of the trip was to raise funds and awareness for the Odanadi Charity in Mysore, which rescues children from human trafficking and the Indian sex trade. More than £19,000 was raised in total, which has helped to pay for the construction of a dining hall and kitchens for the rescue home. It was the second such trip to have been undertaken by the Bullet Boys and no doubt will not be the last.

Michael Hobbs, comments,

“2014 was good for me both professionally with Appassionata and personally with the Bullet Boys trip. Being able to finish the year by travelling across India to raise money for charity was an amazing and fulfilling experience.

“The trip certainly took some stamina – 2,000 km often on unpaved roads and mud tracks requires serious grit and determination – but India is such a beautiful and varied country that I felt very lucky to be back there. The Odanadi Charity in Mysore does such incredible work and it was a privilege to be able to contribute to the safe and happy future of the special children with whom they work.”

The trip took the Bullet Boys through terrain ranging from arid plains to dense forests, testing their fortitude and team spirit to the max. There were some exhausting moments, but all five kept in mind their charitable purpose and were able to complete the ride. The next charitable venture is already in the planning stage.

For more information visit www.appassionata.com, email Michael on mph@appassionata.com or contact the Appassionata team on +39 33154 13225.

• Commercial real estate investment expected to rise by 20% in 2014 and again in 2015 (Cushman & Wakefield)
• Foreign developers committed to restoring Italian architectural gems for use as luxury holiday homes (Appassionata)
• Share of sympathetically restored hilltop home with original turret features from £65,000 (Casa Tre Archi)

From commercial property investment to the saviour of ancient Italian architecture, it seems that 2015 could be the year of the new Italian renaissance so far as real estate is concerned.

Just as the Renaissance was in part driven by the foreign influences of Greek scholars and classical texts, it is foreigners who are now driving forward Italy’s property market. Their interest in commercial real estate (led by retail buildings and followed by the office and hospitality sectors) soared in 2014, with Cushman & Wakefield reporting an expected commercial real estate investment volume during the year of around €5 billion – 20% higher than the previous year.

Foreign investors are the most active in the market and are expected to drive forward a further 20% increase during 2015, having tired of other European markets. As Deutsche Bank managing director Massimo Saletti, explains,

“There is a general feeling that other markets have already been explored from a valuation and opportunity standpoint, and Italy is an obvious choice for capital at competitive pricing levels.”

It is not just commercial real estate that is behind the new Italian property renaissance. Residential property is also playing its part. While commercial buildings are bringing in the money and stealing the limelight, a quite movement is underway that is seeing foreign investors becoming the saviours of Italian architecture.

While the Italian government is selling off castles and other ancient assets in a bid to raise some quick cash, factional ownership company Appassionata is taking a different approach by lovingly and sympathetically restoring old properties and turning them into luxury holiday homes.

Casa Tre Archi, Appassionata’s latest project, is a stunning property that is actually built into the town walls of the medieval hilltop settlement of Petritoli in Le Marche – one of the turrets is a feature wall in the property’s living room. Appassionata has breathed life back into the ancient dwelling, as founder Dawn Cavanagh-Hobbs, comments,

“Italy has so many fantastic old buildings that are gradually crumbling away to dust. It is heart-breaking to see so much history being lost and I am delighted that Appassionata can play a part in saving some of these architectural gems.”

Casa Tre Archi is the company’s third shared ownership project. They have previously resurrected a cluster of tumbledown farm buildings, transforming them into two luxury country houses, along with a working estate. Dawn and her team have also restored a local palazzo, which has become the family home.

“Restoring the palazzo was such an incredible experience,” recalls Dawn. “The roof was partially caved in and one more winter would probably have been the end of the property altogether. Since we began work there, several of the locals have popped in and thanked us for saving it, regaling us with tales from their youth of lively social gatherings that took place there.”

With work on the palazzo and Casa Tre Archi (shares of which are available from £65,000 for five weeks’ usage per year) now complete, Appassionata are looking for their next project and are determined to show that world that shared ownership holiday homes can be the saviour that neglected Italian architecture so badly needs.

For more information visit www.appassionata.com or contact the Appassionata team on +39 33154 13225.

• Italian property market saw 3.6% increase in buying and selling in Q3 2014 (Italian Revenue Service)
• City living is leading the market’s revival (Knight Frank)
• Own a luxury urban holiday home for £65,000 (Appassionata)

“Holidaymakers don’t want to see only Italy’s touristy areas anymore. They want to experience real life – to immerse themselves in the country and its way of life, to eat where the locals eat, to feel part of the town they are staying in.”

For Dawn Cavanagh-Hobbs, founder of fractional ownership company Appassionata, this has been a learning experience. Appassionata’s first two fractional holiday homes, where owners buy a one tenth share of the property and use it for five weeks per year, were located in rural Le Marche. The properties offer the ultimate in luxury rural Italian living, including pools, a tennis court and a working estate producing its own wine and olive oil.

“I was surprised by just how much the owners wanted to embrace the true Italian lifestyle,” comments Dawn. “Of course they enjoyed sunning themselves on the beach and skiing in the mountains, but they seemed just as delighted – if not more so – with buying fresh fish from the local fishermen early in the morning and learning how to make pasta with a local chef. They wanted to embrace Italy in a totally different way.”

It was owners’ feedback that guided the location of Appassionata’s third property, the urban fractional holiday home Casa Tre Archi, in the medieval hilltop town of Petritoli. The three bedroom, three bathroom house with large roof terrace is perfectly located for owners who want to experience urban Italy, from sipping coffee in a piazza to the sound of church bells tolling, to heading to the fruit and veg market to pick out locally grown produce that’s bursting with flavour.

The trend is reflected in official figures, with the Italian Revenue Service reporting a sharp upturn in the country’s buying and selling rates in Q3 2014, an increase of 3.6%. The buying and selling of urban properties was the main driver of the upturn, in line with feedback from Rupert Fawcett (one of Knight Frank’s Italian team partners) in November, who commented that, “there has been increased interest this year in city living.”

Fawcett’s observation was that buyers from the UK and US were leading the charge. Certainly this has been the case with Appassionata’s properties, though they also have owners from South Africa, Switzerland, Scotland, Ireland, France and of course Italy itself.

A one tenth share of Casa Tre Archi can be purchased for just £65,000 and it is this low price point that adds to the property’s attractions, as Dawn explains,

“The beauty of factional ownership is that buyers can get so much more for their money than if they were buying a second home outright. Given that the average second home owner is unlikely to use it for more than a few weeks a year anyway, fractional ownership makes perfect sense. Our owners arrive to find their home ready for use and never have to worry about the upkeep of the garden or minor repairs – it is the ultimate in relaxing holiday experiences.”

For more information visit www.appassionata.com or contact the Appassionata team on +39 33154 13225.

Leaving behind the country in which you were born in search of unknown adventures overseas isn’t for everyone. It takes a certain combination of courage, vision and perhaps a dash of foolishness to abandon everything familiar and jump in to a new world feet first.

Seven years ago, Dawn Cavanagh-Hobbs, founder of fractional ownership company Appassionata, did just that. With numerous family members in tow she left the UK for the depths of rural Italy, settling in the stunning Le Marche region to start a new venture and a new life. Now, seven years later and following the hugely successful launch of the company’s latest luxury holiday home, Casa Tre Archi, Dawn shares her insights into what she did right, what she would do differently and why every family should produce their own wine!

7 things I’ve learned from 7 years in Italy

1. Sign language is your friend

I began learning Italian as soon as I knew we were going to move here, but my language skills were still awful when I arrived. However, my stuttering attempts were well received by the welcoming locals and with that and an extensive range of gestures I managed to befriend local artisans and antique sellers tucked away in tiny villages. These new acquaintances enabled me to design the interiors of the Appassionata properties with a signature blend of antique pieces and bespoke Italian items.

2. Embrace everything

One of the things the family and I definitely got right was our open approach. We came to Italy willing to embrace and absorb everything, from trying unusual local delicacies to soaking up the culture. It’s a spirit that we maintain to this day and is part of the reason that we manage to pour so much of our love of Italy into each property that we renovate.

3. Beware bureaucracy!

If there was one thing that I would do differently if I had to move to Italy again it would be to meditate until I learned the art of patience before I arrived! Paperwork here is a long, slow process. A calm approach is essential and planning for delays is an important part of any process that is likely to involve any paperwork that is out of the ordinary. Which, when you are an expat, is just about all paperwork!

4. Make your own wine

Italy has such amazing cuisine and I feel very lucky to have had the chance to explore Le Marche so thoroughly, tasting my way around the seasonal recipes that have been cooked here for generations. What has also inspired me is Italian wine. Our first two fractional ownership properties were nestled in the countryside with a fabulous estate spread around them. Hand-planting hundreds of vines may have been a tiring task, but it was worth it when we finally got to taste the wine made as a result of our hard work. It was a process that involved the whole family and one that the owners of the two properties enjoy being a part of each year.

5. Be open to friendships from all sides

I have felt very welcomed by the locals here in Le Marche and have made some strong friendships since moving here. I’ve also made some great business partnerships and of course some that blur the boundaries between the two. An open, friendly approach is definitely something that goes down well in rural Italy. One individual that I have been lucky enough to meet is Andrea Ribichini, who I have had the pleasure to go into business with through my other venture, Appassionata Boutique.

Taking the time to get to know business contacts is important. Thankfully, with so many wonderful restaurants and some great golf courses in the area, doing this in Le Marche really does seem to be more pleasure than business.

6. See the funny side

Just like any other business venture, renovating properties in Italy has the scope for things to go wrong. Delays can crop up for all manner of reasons, but I’ve learned to see the funny side and be creative in my approach to resolving problems, which has definitely helped.

7. Expect the unexpected

Even after a decade of living here, Italy is still packed full of surprises for me. From unexpectedly rescuing a horse to discovering ancient, hidden frescoes in the palazzo that we are renovating, Italy never fails to charm, surprise and excite. Appassionata’s latest renovation, Casa Tre Archi, is an urban property that allows owners to experience the pleasure of true Italian town life – a world away from the touristy cities with their overpriced chain stores. I can’t wait to see the owners of Casa Tre Archi’s fractions begin to discover the Le Marche that I have come to know and love over my seven years here.

Shares in Casa Tre Archi are available from £65,000 for five weeks’ exclusive use per year. For more information visit www.appassionata.com or contact the Appassionata team on +39 33154 13225.

• Italian business confidence up to 96.0 in October (ISAE/ISTAT)
• Prices reverse trend to rise 0.1% in October (Consumer Price Index)
• Thriving business Appassionata praises Italy’s business environment

“Italy is a great place to do business.”

A bold claim perhaps, given Italy’s much-documented economic woes over recent years, but for British expat Dawn Cavanagh-Hobbs and her family team behind fractional ownership holiday home business Appassionata, one that rings true.

The Appassionata team moved to Italy back in 2004, long before the global economic crisis took hold. In fact, when the economy began to falter, they had already committed to the purchase and redevelopment of a collection of tumbledown farm buildings in rural Le Marche – an area known as a more authentic (and affordable) Tuscany.

Not one to be swayed from her vision of turning the buildings into two luxury holiday homes, nestled in an estate packed with vines and olive trees, Dawn carried on with her usual blend of inspiration and determination. She comments,

“When the global economic crisis began we were part way through renovating Estate Giacomo Leopardi and I knew that there was no turning back. We simply had to make the business work. What surprised me, given the repeated headlines about how much Italy has been struggling, was how quickly buyers wanted to be a part of the Appassionata dream – buyers from here in Italy, as well as from overseas.

“It turns out that with the right idea, a business can survive and even thrive in difficult economic conditions. I am sure that some of our friends thought we were barmy to carry on in the face of such circumstances, but I truly believe that Italy is a great place to do business. It has certainly proven so for Appassionata.”

The first of Appassionata’s luxury retreats, Casa Giacomo, was ready for launch in April 2011. It was divided into ten shares, each of which entitles the owner to five weeks’ use per year. All ten fractions had sold by May 2012. Casa Leopardi, the second house on the estate, was ready for owners to use by June 2012. By November 2013, nine of the ten fractions had been sold. The remaining share was purchased a year later.

Now Appassionata’s third holiday home has been released to the market, with fractions costing from £65,000. Casa Tre Archi is located in the delightful medieval town of Petritoli and boasts three bedrooms, three bathrooms and a generously proportioned roof terrace with breath-taking views to the sea over the rolling countryside. Three fractions have already sold, despite the property only being ready for use in the autumn.

With business confidence on the up (it reached 96.0 in October 2014, ending a four month decline, according to figures from ISAE/ISTAT), it will be interesting to see how quickly the remaining seven fractions of Casa Tre Archi are snapped up. It may be too early to speak of a full recovery so far as the Italian economy is concerned, but positive indicators are in place and the Consumer Price Index has reported a growth of 0.1% in prices in October, which is a good turnaround from the September figure of -0.4%. The year on year figure has also risen to 0.1%.

Further weight is added to the argument of Italy’s being a welcoming business environment by Appassionata’s other venture, Appassionata Boutique. A designer handbag line launched by Dawn and created in partnership with a local artisan who has worked for almost all of Italy’s big fashion houses, Appassionata Boutique has rapidly become a favourite of those who love high-end bags, both in Italy and beyond its borders.

“Italy has certainly been through some tough times,” concludes Dawn, “but with the right approach and the right idea it has been possible for both Appassionata and Appassionata Boutique to grow healthy businesses here. If we can achieve this level of success during the hard times, I can’t wait to see what the good times bring!”

For more information visit www.appassionata.com or contact the Appassionata team on +39 33154 13225.