The luxury real estate market in Italy remains solid, selective, and growing, supported by rising wealth, an increasingly property-oriented demand, and a structural strengthening of the second home segment and investments in high-end living.
• Number of taxpayers earning over €120,000 annually has grown by 39% since 2...
Arnault purchases Urio Castle on Lake Como from Opus Dei: it will become a luxury hotel!!
30.07.2024
Opus Dei sells Urio Castle to the Belmond Group (LVMH). The property, in Carate Urio, on Lake Como, was sold for a figure close to between 50 and 100 million euros, according to market sources. Safe figure not confirmed as per MilanoFinanza and Il Sole24 ore sources…..
The preliminary contract, signed in November last year, was finalized in recent days by the two companies after the Vicar of Opus Dei for Italy, with his councils, decided to no longer use the house of spiritual retreats known as “Castello di Urio”, in use since the late 1950s.
That of Castello di Urio represents only the last chapter of LVMH's honeymoon with the luxury real estate of the Peninsula. A year and a half ago, in December 2022, in fact, the patron of the Parisian fashion house, Bernard Arnault, added the exclusive Casa degli Atellani in Milan to his collection of iconic assets. In that case, the value of the operation was around 50 million euros.
The preliminary contract, signed in November last year, was finalized in recent days by the two companies after the Vicar of Opus Dei for Italy, with his councils, decided to no longer use the house of spiritual retreats known as “Castello di Urio”, in use since the late 1950s.
That of Castello di Urio represents only the last chapter of LVMH's honeymoon with the luxury real estate of the Peninsula. A year and a half ago, in December 2022, in fact, the patron of the Parisian fashion house, Bernard Arnault, added the exclusive Casa degli Atellani in Milan to his collection of iconic assets. In that case, the value of the operation was around 50 million euros.
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