Where is it convenient to invest in luxury real estate in Italy?
This question has resurfaced in recent times, thanks to the renewed interest in luxury properties in the beautiful country. It's interesting to note that over the last 24 months, there has been a significant increase in the number of foreigners interested in purchasing luxury properties in Italy.
Luxury real estate is a unique market that differs from traditional real estate, especially due to its exclusive nature. The luxury category must be real, tangible, and evident. In addition to the intrinsic value of the property, one must also consider additional services and the surrounding context.
Why do people buy luxury properties in Italy?
Before identifying the best areas to invest, it's important to ask why one wants to purchase a luxury property in Italy. Foreign tourists are usually interested in buying a luxury second home in a tourist location, enjoying the so-called "Italian well-being." In other cases, foreign tourists buy homes to live in, captivated by the city, and in these cases, the choice often falls on Florence or Venice. The only Italian city following the model of "global cities," where purchases are primarily for business reasons, is Milan, thanks to its status as a financial metropolis. There is also a growing number of buyers interested in properties in "quiet areas" with extensive green spaces, such as farmhouses and country estates.
Among the top 5 most popular Italian cities for purchasing luxury homes, Milan and Rome take the lead, followed by Naples, Venice, and Florence, which are appreciated not only for their natural beauty but also for their extraordinary artistic heritage. The main tourist areas where luxury homes can be found include Tuscany, Sardinia, Capri, the Amalfi Coast, Sicily, and the regions around Lake Maggiore, Lake Como, and Lake Garda. For those who love the mountains, Valle d'Aosta and Trentino Alto Adige are popular choices.
Those following the market trends may opt for a location independent of potential real estate appreciation. However, for those aiming for long-term property appreciation, focusing on cities destined to grow in the not too distant future is advisable. In this perspective, a region worth considering is Liguria, currently experiencing a period of great vitality. Puglia also presents an interesting array of luxury properties, including unique ones like trulli and masserie. Another intriguing bet is Piedmont, both in the southeast with Langhe and Monferrato and in the northwest with Lake Maggiore, areas that continue to be highly sought after.