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Land prices in top wine-producing regions reach new highs

by Emanuele Scarci

The prices of Italian premium vineyards are on the up and in the Barolo area of Piedmont have reached €1 million per hectare. According to Winenews.it the highest prices were reached for Barolo's crus (the most valuable sub-areas), from €400,000 up to €1 million per hectare, followed by the vineyards of South Tyrol where, due to extreme scarcity, the quotations hover around €500,000.

Then, there are the lands of Amarone, in Veneto’s Valpolicella, hardly fetched for less than €450,000 per hectare and those of Barbaresco, in Piedmont, for €350,000 (with a peak of €500,000). Then come the areas of Prosecco DOCG Prosecco in Veneto’s Conegliano Valdobbiadene (€380,000), Tuscany’s Bolgheri (€300,000), Lombardy’s Franciacorta (€230,000), Tuscany’s Chianti Classico (up to €160,000), going through Taurasi in Campania (€50,000-60,000) up to the slopes of Etna (at least €60,000), in Sicily.

Unsurprisingly, property deals in the most sought after regions are done exclusively by some of Italy’s wealthiest families or by prominent producers willing to grow.

A few years ago the Illy family took over the winery Mastrojanni di Montalcino, paying €400,000. In January, Value Partners' managing director Giorgio Rossi Cairo, bought for €13 million Cascina Cucco Serralunga d'Alba, in the heart of the Langhe. Twelve hectares (plus cellar and a building), to produce Barolo, Dolcetto d'Alba, Nebbiolo and Barbera d'Alba. The seller was the Stroppiana family of the group Mondo. Rossi Cairo will introduce organic products, as he did with the agribusiness La Raia, in the Alessandria area, with its Gavi DOCG and Piemonte Barbera.

Recently the “barolista” Roberto Conterno, producer of Monfortino, took over the cru Vigna Arione, while another major of Barolo, Paolo Scavino, is about to buy the historic Ravera cru.

In the land of Brunello di Montalcino, three young entrepreneurs from Veneto, owners of the company Cloros, have acquired three hectares of the vineyards of Le Macioche for €4 million; Giovanni Carlo Sacchet and Antonio Zaccheo, owners of the winery Carpineto, took over Forteto del Drago; a few days ago there was a new investment in Montalcino by Tommasi, a major producer of Valpolicella, with Fattoria Casisano Colombaio.