We bought an abandoned Italian mansion for half of the asking price, it looks like a palace but there's a major downside

A COUPLE shared a glimpse into the abandoned Italian mansion they purchased for less than half the asking price.
And while the stunning property was definitely a steal, they revealed one major downside to their plans.
2
TikTok user Jordan Kamelleri (@jordankamelleri) and his partner Emmanuele are no strangers to rennovating old buildings and transforming them into high-end properties.
Their latest purchase is an "abandoned Italian palace" which hasn't been inhabited in 40 years.
The couple have been documenting their rennovation work on the 14-bedroom space, amassing eight million views on one of their clips.
"When I was younger, I would have dreamed of a place like this," Jordan told his followers, revealing that features such as the property's armoury immediately sold him.
Now, the pair plan to convert the 16th-century Italian palace into a private residence, reports People.
They have been working to renovate various properties together since 2018, eventually leading them to their most restoration yet.
Their new estate was built sometime in the 1500s and has over 21,500 square feet of living space.
With years of experience navigating Italy's real estate market, the couple were able to negotiate the purchase price down to roughly half the original listing.
They revealed that they ultimately paid the equivalent of £557,000 for the property, plus additional fees and taxes.
The pair are now focused on clearing out the vast spaces and salvaging what they can.
However, the long-abandoned property comes with one major drawback.
They revealed that they have had to deal with "decades of decay" in their efforts to do up the space.
But there are significantly more pros than cons with this property, as well as being a steal with magnificent views of the Italian countryside, it remarkably also has functional plumbing.
While the current plan is to convert the space into a private property, the couple are remaining flexible and allowing for the possibility of opening one wing to guests as a vacation rental.
They added that they are also considering opening parts of the palace for events such as weddings.
Saving for your first property is tough, but it is possible. Here are a few steps for first-time buyers.
1. Cut back on luxuries and start saving
Consistent monthly saving is the best way to accumulate enough money to get on the ladder, for a deposit and purchase fees. To do this, you need to take a look at your monthly outgoings and think about what can be cut out - holidays, new clothes, weekly takeaway.
Using a savings calculator can help you to establish how long you will need to save for a deposit. Based on your income, you can figure out a realistic amount to save each month.
2. Have a realistic property search
Set a budget for the property price you would like to buy, and think realistically about the location and size of your property. While we all may want that house with a view or extra bedroom, can you afford it?
3. Research Help To Buy and Shared Ownership schemes
The government has introduced a few ways to help first-time-buyers get on the property ladder and they're great for those on lower incomes or to buy a property in more expensive areas like London.
4. Consider buying with another person
Investing with somebody else you know is a sure way to get onto the property ladder. You only need to save half the amount you would otherwise, so you can work towards getting your property sooner.
You can invest with a friend, family or partner. Naturally, it is a big step and a huge commitment so be open and honest about what you expect from living together — if you haven't already.
5. Talk to a mortgage broker and get your documents in order
A mortgage broker can tell you exactly how much you can borrow for a mortgage, what you will need to pay monthly and in upfront costs.
The vast property has an array of indoor-outdoor spaces, a favourite feature for the couple.
These include several verandas, loggias, and panoramic atriums offering exposure to the Italian sun throughout the day.
TikTok users shared their thoughts on the stunning property in the comments section.
"This has SO MUCH potential as not only a home but also a wedding venue," wrote one viewer.
"I've never been so jealous in my entire life," said another impressed follower.
"People are really out there living my dream," commented a third person.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Sun

an hour ago

• The Sun

I explored the tiny European country with underground cities and little-known islands

REACHING for my umpteenth honey and date fritter, I joked that I would have to use the hotel gym after our incredible meal. But my host clutched her pearls and gasped: 'No, no. You have to forget about the gym in Malta, my love.' 4 4 Malta derives its name from the Greek word meaning 'place of honey' — fitting, for somewhere I was quickly realising might be Europe's most underrated culinary utopia. And with underground cities, little-known islands and mysterious temples, I would soon discover this wasn't the only surprise Malta had in store. As the sun set over Ta' Cicivetta farm, we were prepared a feast of traditional dishes, all using ingredients sourced from the garden we stood in. This tiny Mediterranean country is smaller than the Isle of Wight, which goes some way in explaining why its food goes under many people's radars; the limited land area means Maltese produce is barely exported, so you have to try it at source. In one dinner, we could taste the different cultures that have called Malta home over the centuries — Italian in the ricotta parcels and focaccia, Arabian in the date-based sweets and bigilla (a hummus-like dip made from beans), Spanish in the bread rubbed with tomato and drizzled in olive oil. Equally intriguing, however, was how easy it is to come across a full English on this faraway archipelago. The British stopped ruling Malta in 1964, but they left behind a love for this breakfast along with other cultural footprints such as UK plugs, driving on the left and speaking English (an official language here alongside Maltese). I got used to the unexpected sight of red telephone boxes on the streets of cities like Mdina, an ancient fortress which otherwise looked like something out of Game Of Thrones. Mdina's winding lanes and picturesque plazas were actually used as King's Landing in the HBO series, and our guide, Audrey, would occasionally hold up a scene on her phone to prove it. But Malta has seen real battles that make Starks vs Lannisters look like a tea party. Martin Lewis warns about strict passport rule that could see you board your flight - only to get sent home on arrival The country was heavily bombed during the Second World War, forcing people to seek refuge in tunnels under the capital, Valletta, built 400 years earlier by knights defending the city against the Ottomans. We had already been given an introduction to Malta's fascinating past at Odyssey — an immersive history experience complete with special effects and rides — now, prepped with head-torches and hard hats, we explored this amazing subterranean network on a tour with Heritage Malta. Visitors walking Valletta's grand streets and enjoying €4 Aperol spritzes in its squares seemed to have no idea what lay beneath their feet — understandable, as the city's ground-level attractions are impressive enough. These include the 16th-century cathedral (home to one of Caravaggio's most famous paintings, The Beheading of St John the Baptist), the Upper Barrakka Gardens with sweeping views over the harbour, and the stunning Grandmaster's Palace, all within walking distance of each other. In fact, pretty much all distances on this island are extremely manageable, especially from where we stayed in St. Julian's. It's a great base for exploring Malta by car, and a stay at the Hyatt Regency there makes coming back after a day of activities almost as appealing as heading out. 4 4 The luxury hotel has pristine sea-view rooms with balconies, as well as a heated rooftop pool, spa facilities and a gym (for anyone who does wish to burn off those honey and date fritters). Its rooms are also triple-glazed so, despite St. Julian's being Malta's nightlife capital, we didn't have to worry about our five-star sleep being disturbed by revellers. Awe-inspiring A short drive from the hotel is the port of Cirkewwa, the jumping-off point for visiting Malta's sister islands, Gozo and Comino, and we were lucky enough to have Audrey — a proud Gozitan — showing us around her home isle. Gozo is an unassuming patch of land with a smaller population than Dover, yet it is home to the awe-inspiring Ggantija temples — megalithic structures that are older than the pyramids. Its vibrant capital, Victoria, is another must-visit, and on a clear day you can even see Sicily from the ramparts of the city. There is plenty to do beyond sightseeing. At Il-Wileg restaurant, you can try your hand at making the authentic Gozitan cheese, which is served all over Malta, under the watchful eye of a local chef — or you can take an idyllic tuk-tuk ride around the island. We rounded off our day trip with a memorable dinner at L-Istorja, set inside the lavish Kempinski Hotel. It serves the rich tapestry of Maltese cuisine with a gourmet twist but without the fine-dining cost — so you might as well order the gold-leaf-coated gnocchi and knock back a few Gozitan wines. Gozo has much of what makes Malta so special — stunning citadels, mind-blowing food, budget-friendly prices, and glittering turquoise sea — though it has noticeably fewer tourists, giving it a more relaxed, off-the-beaten-track feel. The ferry takes 25 minutes and costs less than €5, and you only pay on the return journey. Technically, if you chose to stay, the journey would be free — and you could certainly be forgiven for never wanting to leave.

Daily Mail​

2 hours ago

• Daily Mail​

EXCLUSIVE ABBA legend's torment over secret Nazi past... and the 'incomprehensible grief' that still haunts her

It's been more than 50 years since the Eurovision Song Contest catapulted them to global stardom and just three years after their multi-million-dollar virtual extravaganza Voyage opened in London. But as breathless rumors swirl that a Mamma Mia 3 is in the works, ABBA are almost as relevant now as they were in the band's 1970s heyday.

Daily Mail​

3 hours ago

• Daily Mail​

Are turbulent times ahead for Rolls-Royce?

The take-off of Rolls-Royce shares is the talk of the City. The engineering giant, synonymous with British manufacturing prowess, saw its share price hit a record high this month in one of the most remarkable comebacks ever seen in the Square Mile. Garlands have been strewn over its Turkish-born boss, Tufan Erginbilgic, who took the helm in 2023 and has been hailed as a miracle worker for bringing the aero-engine maker back from the brink of financial ruin in the pandemic. Not only has Rolls-Royce recovered, it has become one of the best performers in the FTSE 100 index. But there's a rule in the world of big money: if something looks too good to be true, it probably is. This could be the case for Rolls-Royce and 'Turbo' Tufan, who earned the nickname due to the ferocious pace at which he works. Amid all the excitement, the City has overlooked a damaging row between Rolls-Royce and airlines including British Airways and Virgin Atlantic – which some believe could soon bring the engine maker and its share price back to earth. The issue is Rolls's Trent 1000 engines, which power Boeing's 787 Dreamliner. The Trent 1000s proved popular but are showing their age after clocking up more than 20 million flying hours. And they have been dogged by serious maintenance problems stretching back nearly a decade, with hundreds of planes grounded and even routes cancelled. Both BA and Virgin were forced to cancel hundreds of long-haul flights and re-routed passengers when planes were taken out of service for unscheduled repairs. BA's prestigious routes to the Gulf States have been among the more prominent casualties. There was a furore last year when the airline scrapped direct flights from Heathrow to Bahrain and Kuwait, two of Britain's closest allies in the region, because of problems with the Rolls engines, some of which are prone to maintenance problems in hotter climates. Although flights to Bahrain were reinstated after a campaign led by The Mail, the Kuwait route and flights to Abu Dhabi remain suspended. This is a setback when businesses are desperate to forge trade links to the Gulf. Technical faults on the Trent 1000 have dogged Rolls since 2016, when a design flaw – which led to cracks forming in the turbine blades of some engines – was identified. According to Shai Weiss, the Virgin Atlantic boss, the Trent 1000 needs three times the attention of other turbines. The problems have so far cost Rolls up to £3 billion in repairs and payments to the airlines – and the row shows no sign of being resolved. If anything, it is likely to intensify as the summer travel season unfolds. Rolls-Royce has been spared President Trump's punishing trade tariffs under the recent US-UK trade deal. But it has been hurt by his America First policies: it missed out on one of the biggest ever engine orders from Qatar last month, losing to US rival GE. Not everyone, then, is convinced by the Rolls-Royce renaissance. The company's harshest critic is Willie Walsh, the former BA boss who now leads the International Air Transport Association trade body. The blunt Irishman has described the rise in Rolls shares as 'baffling' – and that was back in December, when the price was a good deal lower than today. Walsh accuses Rolls of basic engineering failings and of luring airlines to buy its turbines with, effectively, false claims. 'They built the engines and promised us great things,' he said. 'What they didn't say is: this engine is going to be 25 per cent more fuel efficient. But, by the way, you're going to have to change it every couple of months. 'I doubt anybody would have bought their engines if that's what they were saying.' But investors seem happy to set aside these concerns. Shares continue to be swept up in the hope Rolls will win lucrative defence contracts as Britain rebuilds its military strength. There's some sense to this: as well as making turbines for passenger planes, Rolls-Royce produces engines for combat vehicles, fighter jets, submarines, ships and helicopters. Rolls has also chosen to build the next generation of mini nuclear reactors. These factors have helped it overtake drugmaker GSK and data provider Relx to become Britain's sixth-largest company, with a valuation of £75 billion. Credit is certainly due to Tufan, who conducted a root and branch overhaul after taking charge. He put every aspect of the business under the microscope and imposed what he describes a 'zero tolerance for mediocrity' regime. Such is his obsession with performance that he instigated a three-and-a-half-month-long study of how Rolls fared against its rivals before he even arrived. This delved deep into internal processes and was the basis of a highly detailed strategy to rebuild the balance sheet and improve profitability. So far as the stock market is concerned, the medicine is working. There has been an astonishing £68 billion rise in the value of Rolls-Royce shares in the two years since Tufan arrived. Having lost £4 billion in a year in the pandemic, Rolls made an operating profit of £2.5 billion last year, its highest ever. Any investor shrewd enough to have bought £1,000 worth when he joined would now have a holding worth almost £8,500. That is an alchemy of wealth creation that even the tech giants of Silicon Valley would struggle to match. 'It's been a monster performer,' says Jamie Murray of Shore Capital stockbrokers. Rolls has a loyal army of 150,000 small shareholders who have stuck with the company through thick and thin since it was privatised under the Thatcher government in 1987. Younger investors are also enjoying the ride. Rolls is one of the most popular shares on investment platforms such as Trading 212 which are used by newer generations of share owners. There is no denying Tufan's actions – cutting costs, slashing 2,500 jobs and re-negotiating loss-making contracts – have been a big factor in transforming the 119-year-old company's fortunes. Naturally, Tufan has reaped personal rewards. He has pocketed £18 million in salary and bonuses in the last two years, including £7.5 million to persuade him to leave his former employer, BP. His performance is all the more impressive given the tough climate facing aviation – particularly a post-pandemic shortage of components and spare parts. Rolls-Royce is not the only manufacturer facing complaints. Problems with turbines made by American rival Pratt & Whitney have led to more than 40 of Wizz Air's planes being grounded. And investigators are still looking at what caused an Air India flight from Ahmedabad to Gatwick to crash just after take-off this month, killing 270 people. The Boeing Dreamliner, which was powered by recently serviced GE engines, had 'a clean history', Air India's chairman said this week. The question, then, is this: can Rolls-Royce's gravity-defying performance continue? Those with long memories know that Rolls – which was declared insolvent in 1971 due to cost overruns and development problems with its RB211 engine – has had a chequered past. Nationalised by Edward Heath's Conservative government, its fortunes have yo-yoed ever since. The famous car-making arm was separated out in 1973 and is now owned by BMW. Some say Tufan, a British and Turkish citizen with a background in engineering, has been a lucky general. His arrival at Rolls coincided with a post-pandemic bounce in flying among business passengers and holiday makers. But Tufan and Rolls-Royce will need more than luck in the months ahead. The problems with the Trent 1000 and other engines in the core civil aerospace business – which accounts for just over half of Rolls's £17.8 billion of sales and the bulk of profits – remain a dangerous Achilles' Heel. While Tufan cannot be blamed for the difficulties he inherited, he has so far not managed to draw a line under them – certainly not so far as the airlines are concerned. BA, for example, told The Mail on Sunday it was 'very disappointed' that it had been forced to make changes to its schedules because of the failings. 'Our teams continue to work closely with Rolls-Royce,' a spokesman added. And, while the original design faults on the Trent 1000 engines have now been fixed, Rolls accepts the supply chain shortages could last for another 18 months, meaning more delays, more grounded flights – and even higher air fares. 'The supply chain environment remains challenging,' said the spokesman, admitting that there had also been 'a significant increase in Trent 1000 major refurbishments' last year. Rolls has responded by committing £1billion to a series of upgrades across the Trent family of engines aimed at reducing the number and frequency of repairs. Erginbilgic hopes to put a new high-pressure turbine blade into all the engines in the Rolls fleet over the next two years in a move that will more than double the amount of time the Trent 1000 spends in the air. The improvements cannot come soon enough for customers and passengers. And, as for what this means for the stellar share price, experts are divided. Analysts at Bank of America think the company could be worth up to £100 billion – in other words, the shares could climb significantly higher. Its long-term success depends on whether the company can deliver cleaner, greener, quieter engines – and, in that respect, the Trent 1000 saga does not augur well. For the moment, Rolls is flying high. But its critics, while still in a small minority, are adopting the brace position – in case of a sudden and troubling loss of altitude.