The USA and Germany are leading in interest in foreign luxury real estate in Italy.
The USA and Germany together account for about a third (31.6%) of foreign visits to luxury real estate on Idealista, a leading portal for real estate technology development in Italy. This is evidenced by a study conducted by Idealista based on searches for property listings for homes priced over one million euros, made from abroad throughout 2023. "Although luxury real estate is considered one of the preferred tools for investors to protect their capital from inflation, to diversify their portfolios, or as a safe haven during periods of uncertainty, foreign investments in the luxury real estate segment have shown remarkable resilience. Despite the geopolitical upheavals of 2023, it remained virtually stable," commented Vincenzo De Tommaso, head of research at Idealista.
Distribution of foreign demand for luxury real estate.
The USA (15.9%) and Germany (15.7%) are the market leaders as the main buyers of luxury goods in our country. They are followed, but with a noticeable gap, by Switzerland (6.7%) and the United Kingdom (6.4%), while France and Poland (both 5.4%) hold top positions. Together, these countries account for more than half of the visits for foreign private investments in 2023.
Desired destinations for foreign buyers.
The main destinations for foreign investors, with visitor numbers sometimes exceeding the total visits from local areas, include: Verbano-Cusio-Ossola (59%), followed by Syracuse (57%), Venice (52%), and Como (50%). Continuing the list, the top 10 also includes the province of Salerno (48%), Gorizia and Trapani (43%), Messina (42%), and Imperia (41%). On the other hand, the least interesting provinces for international investors are: Caserta (6%), Pavia (6%), Ferrara (8%), Lodi (8%), and Piacenza (9%). If we look at the regional capitals, we can see that the interest of foreign investors in representative houses exceeds domestic demand in Venice (56% of total visits) and Verbania (52%). Other popular markets sought after by clients from abroad include Syracuse (48%), Como (47%), Lucca (46%), Imperia (42%), Trieste, and Siena (both 38%). Rounding out the top 10 are Florence (35%) and Lecce (32%).
Comparing the main markets,
The leading city in foreign demand is Rome, which accounts for 19% of the total, followed by Milan at 13%, and Naples at 12% of the city's demand.
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