Italy is the second home destination for the cognoscenti (an Italian word) and anybody who wants style with their apartment or villa, which incidentally is another Italian word. In short, it's classy.

If you draw a line through the middle of Italy, the north-south divide looks slightly different from other European countries.

The north does have a Milan-centred industrial base, but the northern half of the country also contains the architectural and artistic gems that are Venice and Florence.

It's the wealthier end of the country, too, a fact reflected in some of the property prices.

At the top end of the market, for example, on Venice's Grand Canal, a five-bedroomed, two bathroom flat (with private mooring and views from the communal terrace over the Venetian skyline) costs £823,000 - see www.overseasrealestate.co.uk for more information. So, although, there aren't that many bargains, it is somewhere to save up for, hanker after and dream about.

Angelika Smith-Aichbichler knows all about fulfilling her clients' dreams, and helping their investments grow. Her company Piedmont Properties specialises in vineyard properties complete with rustic farmhouses and incredible scenery, some of which are reasonably priced at about £230,000. "But for this price, the property would need some work doing, so you'd have to be prepared to renovate. With a house in good condition, the price tag would double."

As Angelika notes, increasing numbers of people want to buy into la dolce vita, whether to become winemakers themselves or employ somebody to make wine for them - "demand is currently outstripping supply".

Piedmont is a wine-growing area in the Milan-Turin-Genoa triangle and is the home of the slow food movement, promoting the relaxed enjoyment of meals. It's also the area where the vines behind some of Italy's most popular wines, including Asti and Alba, are cultivated.

Ingrid and Phil Blades originally intended to buy a second home in Piedmont.

They liked the area so much, they went ahead and bought a complete vineyard which they now run as a business. Their motivation was a mixture of romantic impulse and the sort of sound business sense you'd expect from former senior IT consultants with Cap Gemini Ernst & Young.

"It sounds corny, especially from people with a business background, but we really fell in love with the place, which was formerly owned by a very colourful ex-Ferrari racing driver," says Ingrid (46), who comes from just outside Belfast.

"We didn't start off with the idea of moving lock, stock and barrel but we were a classic case of over-stressed individuals looking for a change of lifestyle.

"When we saw Vecchio Podere Santa Cristiana, we changed our plans and worked out how we could finance it." So they sold their house in Yorkshire and devised a new business plan. "We moved in during November 2005 and thought, 'Oh, my God, now we have to really do it'."

The property cost £460,000 and the Blades have spent another £80,000 on doing it up. "Planting a new vineyard is very expensive and it takes four years to produce your first wine, with a lot of capital investment - it's a labour of love really."

They run a bed and breakfast business targeting "wine tourists" as well as producing their own vino which is white and characterful. "We employ a couple of people and call in farmers during the wine harvest. And no, we don't tread the grapes, it's done by machine. Our first wine is called Piano piano, or 'Slowly, slowly' because that's what our neighbours kept saying when we had problems with local bureaucracy. There is some of the vintage left and it's ageing nicely.

"We thought of calling the next one Fatto, fatto, meaning 'We've done it', but it doesn't translate so well."

If you aren't into wine-making as a new occupation and appreciate contemporary design, there is an exciting development on the Lido di Jesolo, across the lagoon from Venice, created by Paolo Mar, the firm responsible for the look of the city's new airport. Three hundred flats have been constructed round a massive lagoon-style pool, and the whole development is just a couple of minutes' walk from the Blue Flag-standard beach.

There is nice attention to detail, with private terraces included as standard, and you can choose whether to buy with a fitted bathroom and kitchen or opt for a turnkey property. It will be finished in June. Prices range from £115,000 to £165,000 with penthouses a bit more.

And finally, you can find a real bargain in Le Marche, the area just above Rome that has been dubbed the next Tuscany.

There are still old stone houses waiting to be renovated, and if you're quick, you could pick up something like the six-roomed house in Molino San Angelo for £59,000.

It's on the market with Homes in Italy, oozes potential, and if you spent several thousand on it, could be the perfect Italian second home.

Piedmont Properties, tel 01344 624096, website www.piedmont.co.uk

The Blades' website is www.stayinpiedmont.com and their wine is sold via www.piedmontwine.com

Venetian Estates, tel 0208 878 1130, email info@vareakestate.co.uk

Homes in Italy, tel 0845 229 7057, www.homesinitaly.co.uk