ITALIAN cats know when they’re on to a good thing. Each morning at the Leggiano farmhouse on the Castello di Reschio estate in Umbria a family of three would turn up at the kitchen door. Their reward, if the maid was there, would be pieces of bread. If she wasn’t, it would be slightly richer: ham, sometimes beef.

For people willing to invest in property in this beautiful valley in Lisciano Niccone, Perugia, the rewards are richer still: superbly renovated properties, enticing views, their own staff and total privacy.

Of course, all this comes at a price. At Reschio the difference between being merely rich and being wealthy is simple: the rich would hire a farmhouse for a week for about £5,000, the wealthy would buy one – at prices from £3.5 million to £7.5 million.

For your money you get a farmhouse rebuilt to cater fully for your needs, plus the attentions of the resident Reschio staff – although perhaps family would be a better term. The 2,700-acre estate is run by a team consisting of Count Antonio de Bolza, an exiled Hungarian, his wife Angelika, and their son Benedikt, a London-trained architect who acts as the chief executive, and Benedikt’s wife, Nencia.

When Bricks and Mortar visited Reschio in 2004 the estate consisted of 40 ancient farmhouses, of which 12 had been fully converted. Since then, the neigbouring estate of Val di Rose has been purchased, bringing the number of properties up to 50. These are now being converted at the rate of about four a year. Many of the farmhouses have distinctive outhouses that were used for drying tobacco when it was the valley’s main crop. All have commanding views over the Niccone valley.

There are also plans to convert a ruined tobacco plant into a fully equipped spa and wellbeing centre and possibly to turn some of the castle’s rooms into luxury apartments.

The count bought a holiday property in the valley in 1985; six years later he bought the entire estate, complete with its 13th-century castle and ruined farmhouses. The freehold properties are now sold to buyers as part of a “one-stop” package plan. “We ask the buyer how many bedrooms he wants and we show them the ruins that would fit their requirements,” says Benedikt. “Then we come up with a project tailor-made for them.”

Benedikt and his team of architects oversee every detail of the renovation. Although Italian planning laws mean that the building work must adhere to the original “footprint” of the building, the houses are almost completely rebuilt. The average plot is 4,300 sq ft with about 3¾ acres of land.

The end results are stunning. One property, Barco, restored last year, has a main house and a guest area linked by a covered dining terrace. It has underfloor heating and high-speed wireless internet access. The main house has a master suite with bathroom, study and sitting room, plus a twin bedroom with en suite bathroom; there’s also a large living room, and a huge kitchen and laundry room. The guest cottage has two double bedrooms and a sitting room. There’s a formal courtyard garden and a swimming pool.

The estate offers a five-star concierge service, including in-house cooks, personal drivers and a daily maid service. The count is a keen horseman and there is an equestrian centre with a stud farm of pure-bred Spanish horses.

Above all, it’s a welcoming place for families. “There’s a sentimental reason behind investing here, having lost our properties in Hungary after the war,” the count says. “It’s always been my hope since I was a boy to recreate a family centre, and this is a strong reason behind Reschio.” www.reschio.com

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FACTFILE

Prices have been increasing steadily by 5 to 10 per cent over the past two years in Umbria.

It is still possible to find an apartment in a restored building in Perugia, the region’s capital, for about £60,000. Old stone village houses needing renovation cost about £130,000.

Agents estimate that, with the revamping of Perugia airport, prices could rise by 15 per cent in the next year.

Stamp duty and registration tax is from 10 to 17 per cent. Capital gains tax is on a sliding scale after five years’ ownership.

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