It's what Venice is set on, Bernard, so good call.My only comment is based on the ancient oak posts I struggled to remove. Above ground they were falling apart. Below ground and in the water table they were in very good condition even though saturated and swollen. Hence I believe that good quality timber can be set in soil below the water table and they will not rot.
It is the lack of oxygen that slows / halts the decomposition process, IIRC.