This article was provided exclusively for Finca Fantastica Travel By TheMoveChannel.com Italy
It’s hard to imagine Italy’s property market ever losing its appeal. The warm climate, amazing cuisine, lovely coastlines and wealth of culture is enough to draw in any holiday home hunter. Even with the recession still taking casualties in Europe, Italy has seen international sales increase, according to figures from Scenari Immobiliari. Indeed, the country is a firm favourite among buyers on overseas property portal TheMoveChannel.com, always ranked in its 10 most popular countries.
Falling prices have drawn a wide range of nationalities into the market, with German investors accounting for 40 per cent of activity, followed by British buyers (18 per cent) and Russians (13 per cent). As sellers become more flexible on their asking prices, Italian homes are increasingly affordable for those from abroad.
The market has struggled in recent months following the government’s austerity measures designed to decrease the national debt, but the Prime Minister’s decision to suspend the controversial property tax (introduced by the previous ruling party) in June 2013 is a promising sign that the housing market is in safe hands.
From the buzzing cities of Rome and Milan to the beauty of Venice and Florence and the relaxing lifestyle of Tuscany, no matter the global financial climate, Italy’s La Dolce Vita will always taste sweet.
Most popular hotspots
The most popular region in Italy for property purchases is Abruzzo, accounting for one quarter of enquiries on TheMoveChannel.com. Lombardy is close behind, receiving 17 per cent of enquiries. But while Abruzzo’s low prices and Adriatic coastline attract many buyers, the majority of house hunters turn to other regions first, such as the star-studded Liguria or the coastal Apulia.
Rome, Milan, Venice and Florence are all highly sought-after destinations and need no introduction.
These are some of the other most popular property hotspots in Italy, ranked by their number of searches on TheMoveChannel.com:
A fishing village on the Italian Riviera, Portofino has transformed over the years into a celebrity hotspot. Wayne Rooney got hitched there, while Rihanna enjoys vacationing in the area.
The picturesque harbour and beautiful old buildings combine to create a tiny slice of history and holiday hotspot. Beaches, churches, high-end villas; there’s more to spot in Portofino than famous people.
Over the years, Lake Como has become synonymous with George Clooney. Its most famous resident, the movie star has owned a villa on the shore of the picture-perfect lake for a long time - and who can blame him? Many wealthy buyers are attracted to places such as Menaggio, Argegno and Como thanks to the area’s jaw-dropping scenery, stable property prices, pleasant climate and famous reputation. Known around the world, Lake Como only seems to get more attractive with age. Not unlike George Clooney.
Located on the Tuscan Riviera, Viareggio is a coastal city that has gained a strong following among tourists and home buyers alike. The area developed its reputation as a seaside resort in recent decades as development combined with scorching summers to attract investors. Indeed, the area boasts over 270 days of sunshine every year.