Immobiliare 2023: Italy is a target for Americans, Germans, and English. The age of buyers is decreasing.

In 2023, it became clear how attractive Italy is for foreigners, especially for Americans, Germans, and English people who want to buy a second home in our country. According to the annual report from the overseas real estate portal Gate-away.com, 2023 ended with a positive balance, although there was a slight decrease (by 6.42%) in inquiries from foreign buyers. In the context of the current crisis in the Italian real estate market, characterized by a decline in sales, the foreign segment remains key for real estate agencies.

“The peak of searches mainly occurred in April and August, although activity remained high from February to March,” comments Simone Rossi, co-founder of Gate-away.com. “The average price of evaluated properties is around 530,000 euros, but we also noticed an increase in inquiries for properties up to 100,000 euros, which accounts for 40.78% of the total number of inquiries. This confirms our idea that foreign investments in Italian real estate are becoming increasingly attractive and well-distributed.”

An interesting new development is the age composition of users on the Gate-away.com portal, which could open up new and exciting opportunities.

Among more than 1.8 million unique visitors, the majority belong to the age group of 45 to 54 years old – younger than in previous years when the age group was 55 to 64. It is also very interesting to note the increase in potential buyers aged 25 to 44, who represent a growing market share and are completely changing the motivations of foreigners looking for a home in Italy: not only for retirement but also for remote work in their dream country.

Who are the potential foreign buyers?

Americans hold the leading positions among nationalities (28.82%), followed by Germans (11.53%) and British (9.05%). The ranking of the top ten most active countries also includes Italy (requests from foreigners within the country), Canada, and France (an increase of 2.68% compared to 2022), the Netherlands, Switzerland (+21.22%), Belgium, and Sweden.

Which places are the most popular among foreigners?

Ostuni, Ceglie Messapica (ranking first with a growth of 143.42% compared to 2022), and Scalea are the most sought-after cities according to Gate-away.com, followed by Fivizzano, Lucca, Carovigno, Nice Monferrato, Noto, Todi, and Tropea. The ranking of preferences changes when considering provinces: Como (4.75%), Perugia (4.46%), Lucca (4.37%), Brindisi (3.86%), Sassari (3.82%), Imperia (3.43%), Cosenza (3.39%), Massa-Carrara (3.18%), Chieti (2.94%), and Pisa (2.87%).

The classification of regional preferences is also of great importance.

Compared to 2022, the Top 10 regions for 2023 according to Gate-away.com remain unchanged withTuscany (18.52%), Lombardy (9.28%), and Liguria (8.42%). They are followed by Sicily (8.16%), Piedmont (7.74%), Apulia (7.68%), Abruzzo (6.63%), Umbria (5.94%), Sardinia (5.68%), Calabria (5.48%), Lazio (4.42%), and Marche (3.61%). "Special mention should be made of Sicily, Abruzzo, Sardinia, Calabria, and Molise, which saw a significant increase in interest in 2023 compared to 2022. Additionally, while Lake Como ranks first among locations, followed by Salento, Lunigiana, and the Itria Valley, the largest growth is noted in Maremma (+6.53% year-on-year) and especially in the Alps, which reached a peak with a value of +67.07% year-on-year."

By type of real estate

• 74.65% of the requests on the Gate-away.com portal are aimed at purchasing a home.
• There was an observed increase in the "apartment" category (+7.48%) and "palazzo" (+22.38%).

Most inquiries pertain to fully renovated and ready-to-live-in properties (63.84%), although in 2023 there was also an increase in inquiries for properties requiring restoration (+16% year-on-year).

As for the price categories, 40.78% of inquiries were for properties costing up to 100,000 euros, 24.78% for those between 100,000 and 250,000 euros, 16.79% for properties between 250,000 and 500,000 euros, 9.65% for those between 500,000 and 1 million euros, and 8% for properties over 1 million euros.

In 2024, Gate-away.com launched the "Abroad for Everyone" campaign aimed at informing and simultaneously debunking certain beliefs often held by real estate professionals. The new YouTube channel will discuss key topics on the latest market trends and buying-selling strategies, revealing secrets and best practices for success in the real estate sector.