Developingi n ItalyOne's a Dublin barrister, the other a pilot - and now they're developers of holiday homes in Italy, writes Kate McMorrow
Irish buyers have established themselves as a significant segment of the overseas property scene. A few intrepid investors are now taking it a step further, launching into the market as agents and developers across the globe.
Omagh brothers Jason and Peter Stewart had been holidaying in Italy for years when they discovered Puglia, an unspoiled region in the heel of Italy with year-round sunshine and incredibly affordable prices. Jason is a Dublin-based barrister, and his brother Peter is a British Airways pilot working out of Heathrow.
The idea to develop holiday homes took root when they saw their first trullo - quaint conical houses built of local stone which are indigenous to the area. In medieval times, when the tax collector was on his way from Rome, the local Pugliese removed the top keystones of the cones, collapsing the houses to rubble. Rebuilding began soon after the taxman had departed.
"I just fell in love with the trulli - they make you smile, they're so cute," says Jason. "We came across one for sale in Castellana, 15 minutes' from the sea at Monopolo and bought it, then bought two others, one by one."
The Stewart brothers were lucky to find local tradesmen able to restore the three trulli by hand. They employed a geometra - draughtsman - who specialised in traditional building methods to oversee the project, flying out once a month or so to view progress.
The first trullo is now ready for the market, unrecognisable from the heap of stones and rubble they bought a year ago. "It's actually a brand new 250-year-old house, surrounded by vineyards, small farms and other trulli, restored by Italians as holiday places," says Jason Stewart,
Thick stone walls provide insulation from the heat of the day. Floors are tiled in original stone and two new bathrooms have been installed. There are two bedrooms, a sittingroom and a shell kitchen without units, Italian-style. However, the Stewarts will help to choose and install one for the buyer.
The trullo, being sold through local agent Pirelli Real estate, stands on 80,729sq ft (7,500sq m) of land, with a new swimming pool, olive and fruit trees and a driveway with electronic gates at the entrance. It costs €299,500 plus 10 to 20 per cent for taxes and fees.
Two larger trulli are currently undergoing restoration and buyers can choose interior layout and fittings at this early stage. Costing around €400,000, these will have three to four bedrooms, three bathrooms and large gardens with a pool. Completions are scheduled for next summer.
The locals are very friendly and there's no sign of mafiosi anywhere, says Jason.
"I expected to be interviewed by 'the family' as a landowner but it never happened - quite the opposite. The last time I went to Puglia, I had booked into a hotel in the historic centre of Conversano, all narrow streets and high kerbs. I got the car wedged in a one-way street going the wrong way. Neighbours came out of their houses, laughed and then sorted the car out and sent me on my way. They're such nice people."
Poor access is one of the reasons why this remote part of southern Italy is not already crowded with tourists and is relatively unspoiled, adds Stewart.
"You can fly to Naples and drive across in three hours. Its only a matter of time for airlines to discover Puglia. For now, it's the real Italy and truly fantastic."
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