“It’s no longer necessary to be a doge to own a palazzo in Venice.” The current Italian government hopes to cut the country’s budget deficit by selling over three hundred historic buildings, including palaces and castles:
The government hopes to raise as much as €1.5 billion through the historic property sales, according to the Agenzia del Demanio, the agency that manages the state’s real estate assets. Currently the Italian state owns properties worth about €42 billion, according to a report by Edoardo Reviglio, chief economist of bank Cassa Depositi e Prestiti.
The city of Venice is going to sell 18 properties, including the 18th century Diedo Palace, which served as a criminal court for years. The price tag for the palace is €19 million. Milan intends to sell more than 100 buildings, including the Palazzo Bolis Gualdo. The city hopes to get as much as €31 million for that palace.
Not actually up for sale: the Palazzo Ducale in Venice, former primary residence of the Doge, which has been open as a museum since 1923.