Palazzetto Toma is part of a palazzo dating back to the 1890s, with beautiful cementine floors, star or pavilion vaulted ceilings, a small garden and balconies and terraces covering 250m2, excluding outdoor spaces.
It is in remarkably good condition, but will be remodernised to a very high spec, providing a fabulous kitchen and dining room at garden level, four bedrooms with balconies, four bathrooms, a big reception room and a terrace on the first floor, and a roof terrace with outdoors kitchen and pool.
There are two different entrances, which will also allow the property to be used as separate units and a lift will connect the floors. A state of the art heatpump system will provide cooling, heating and hot water, and photovoltaic panels on part of the roof terrace will keep running costs low.
The palazzo is in beautiful Galatina, just outside the historic centre which means there is easy car access and free parking outside.
See walk around video of first floor here
We have a preliminary contract on the property, and will complete the purchase by the end of February 2026. Work will be completed late summer 2026. This will be a fractional ownership project, so that a limited company will buy and restore the property – with shares in the company representing a share of the freehold. Use of the property will be divided between the owners – who can use their share to have holidays, derive a rental income (or both), or have a base in Puglia while they are looking for their own property or trying out the area before a permanent move. A management company will run and maintain the property, look after owners and keep the usage calender updated.
Anyone who buys shares before we complete on the property will be given shares at cost with their shares increasing in value by around 30% by the time the property is completed. Funds will be held in escrow until different milestones are reached. Shares can be sold at any time, with the management agency finding buyers and handling the transaction.
The layout of the property is such that owners can either have exclusive use of the whole house, a self contained two bedroom suite with kitchenette and balcony , or one of two other bedrooms – with independent access but sharing the ground floor kitchen and dining rooms and the roof terrace pool. This can be different each stay.
Why buy a share in Palazzetto Toma?
For early birds it’s a sound investment, giving a return of 30% in the first year. Property prices in Puglia are going up fast, particularly in desirable towns. The minimum share costs 35,000 – representing two weeks exclusive use high season (will be more mid or low season) or 6 weeks non exclusive use (again, more if mid or low season). This wouldn’t even buy a one bedroom apartment to restore in better areas.
This is the ultimate in hassle free property ownership. The Management company will take care of everything, with an annual fee covering maintenance, bills, insurance and a concierge service.
If you want to rent out some of your nights the management company will look after this for you and, as a company, will be able to offset all costs whereas in Italy, as an individual you are taxed on gross rental income.
Many people want to try an area, or explore before they buy but rental property is in extremely short supply. You can use Palazzetto Toma as a base for exploring and experiencing the area and sell your shares at anytime if you find your own dream property, your circumstances change or you decide the area isn’t for you.
Use of the property will be entirely flexible, for example you could come with friends and family for a week’s exclusive use, using all four bedrooms, and then have further nights or weeks sharing the property with other owners or holiday guests.
The shared option is ideal for single buyers or sociable couples – you have your own private space but the option of meeting other like minded people or having company when you feel like it
For further information, figures and floor plans or to arrange a chat – email Caroline at personalpuglia@gmail.com or send a whatsapp message on +39 391 798 2054
Gorgeous pavimento!
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