NEWS » More foreigners buying property in Italy
More foreigners buying property in Italy
German and British families invest in bricks and mortar in Italy. In the last seven years the purchases of properties by foreigners rose by 53%.
The Germans are on the top of the list of investors in Italy, followed by the British, while the investments from Russia are also rising.
The most popular Italian regions for purchase are Puglia, Lazio, Tuscany and Marche.
So, if for young Italians it is less popular than ever to buy a house, an increasing number of foreigners invest in bricks and mortar in sunny Italy.
In 2012, 4600 foreign families have purchased a residential property in Italy, compared to 3000 in 2005. An increase of over 53%. Also the average capital invested increased from about € 245,000 in 2005 to 455,000 this year.
The highest proportion of investors are from Germany (from 36% in 2011 to 39% in 2012), followed by English with a share of 18%. The most popular regions are Puglia with a share of 22% of the total stock of foreign purchases, followed by Lazio with 21%, with 16% from Tuscany and Marche 15%.
However, the growth in purchases by Russian families continues, from 2% in 2005 year to 13% this year.
If in recent years, Russians were more oriented towards luxury properties in Sardinia, they are now targeting the most famous tourist destinations of Liguria and Versilia, but also Rome, the Amalfi Coast and Umbria.
Some purchases were also made near the lakes of Lombardy and the Dolomites: in most cases, they are consistent investments, because the research is oriented especially on large properties, such as villas and penthouses.
In 2005, 30% of foreign property were in Tuscany, but the high level of prices has led to a shift in the flow of overseas buyers to neighbouring regions more affordable like the Marche and North of Lazio.
In 2012 the prices of properties in Tuscany has fallen by 20% so as to appeal to foreign buyers again.
The fastest growing real estate market is in Puglia, where people buy houses by the sea, in the countryside and in small villages.