'In-demand growth of luxury cottages'

The Italian luxury real estate market continues to do well, with demand for high-end properties up 9% compared to the pre-coronavirus period.

The supply in the market has also increased compared to early 2019, with the luxury segment accounting for 2.3% of the entire Italian residential market.

The company Immobiliare.it Insights, specialized in big data and marketing analytics for real estate, and the leading international portal LuxuryEstate.com have prepared a new report focusing exclusively on the Italian luxury real estate market.

The purpose of the report, which you can find below, is to objectively assess what has happened to this market over the last four''year.

The analysis was conducted at three prestige levels: Extra, Large and Small, which indicate possible combinations of area, price per square meter and total property value across Italy.

North and Central Italy concentrates on nearly 90% of luxury properties.

A detailed look at the geographical distribution of prestigious properties.

Shows that they are mainly located in the northern and central regions of Italy: 36% in the Northwest, 34% in the Center and 18% in the Northeast. Southern Italy and the islands offer 12% of luxury properties.

The leading positions in the list of areas with the most valuable properties are Milan with 6.06 billion euros, followed by Rome with 4.50 billion euros,''and finally Versilia with a value of 3.47 billion euros.

The time of luxury

Although luxury properties typically stay on the market longer than properties on the regular market, the time to sell has shortened considerably in recent years.

The current time to sell is averaging 6.7 months, two months shorter than at the beginning of 2019.

Comment from Carlo Giordano, member of the board of directors of Immobiliare.it:

The figures show that Italy is a diverse and complex country:Luxury properties cannot be simplified to those above a certain monetary value, and no single market trend can be identified. И'