luxury real estate
22 - Luxury real estate: what are the advantages of buying in Italy for foreigners
22 - Luxury real estate: what are the advantages of buying in Italy for foreigners
The luxury real estate sector has been showing marked growth in recent years.
A large proportion of investors are foreigners, especially for ultra-luxury homes worth more than 1 million euros.
Let’s see what are the reasons for this increase in interest and what are the advantages of buying in Italy for foreign investors.
Buying luxury real estate in Italy: the advantages
luxury real estate for foreigners
Italy, for a variety of reasons, has always attracted foreign tourism.
As a result, such interest has also caused the desire to own a prestigious residence in our area to increase.
The reasons and advantages of buying in Italy for foreign buyers are different:
- presence of an exclusive setting, both in terms of landscape and from a historical, cultural and artistic point of view;
- existence of a wide range of luxury properties, such as historic and architecturally significant properties, castles, villas, and more modern and designer residences;
- possibility of tax benefits with the Flat Tax aimed at ultra-rich buyers investing in Italy;
- opportunity to make a profitable investment, as the prices of prestige houses in Italy are lower than those in other European countries.
Where foreign investors buy
In the past 3 years, demand in the luxury market in Italy has seen a growth of about 50% compared to previous periods.
Foreign buyers are the majority, particularly in the ultra-luxury market segment.
In fact, those who buy real estate with a price tag of more than 1 million euros 75 percent come from abroad.
Of these, as many as 20 percent come from the United States, and in second place are investors from Great Britain.
Following the other countries of origin of buyers are Switzerland, France, Germany, China, India, and Australia.
Americans are mainly interested in Tuscany and the Lombard Lakes, thus preferring farmhouses in the countryside and villas on the coasts.
The Italian regions with the highest number of real estate purchases and sales worth more than 1 million euros are Lombardy, followed by Latium and Tuscany, which ranks third.
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