The word “Italy” does not only represent a country but also a lifestyle that calls to mind long walks in lands full of history, views on breathtaking landscapes and immersive wanderings in art cities. Not by chance Italy is called the “Bel Paese” and this isn’t only a stereotype. Numbers say it all: more and more foreigners look at Italy to buy their luxury home, often as a second house. Indeed, in 2021 the market demand increased by 107,38% compared to 2020, a value that can only raise in the future.
Prestigious Italian homes purchased by foreigners: a market overview
Despite the pandemic crisis, investments on Italian luxury properties from foreigners resisted and, as already mentioned, during 2022 the demand is bound to increase. Detached houses with garden are the favorite ones, but there’s another trade that is better not to ignore: the market of historical houses, castles, farmhouses and sately villas. The value of castles in Italy and other European countries ranges from 3 to 10 million euros. After all, how can you resist the charm of an historical estate waiting for a new lord?
Where do foreigners who buy in Italy come from?
Gate-away.com reports that during 2021 requests came mainly from overseas: it’s the Americans who want to own a property in Italy the most, but the volume of requests from Europe should not be underestimated.
The list speaks clearly:
- Americans (U.S.A.)
- Germans (Germany)
- British (U.K.)
- Dutch (Netherlands)
However, it would be a mistake to stop looking only at these data: in fact, an important trend of real estate buying and selling by foreigners in Italy concerns the already mentioned historical houses. Il Sole 24 Ore reports that mainly Germans, Americans and English, but also Arabs and Chinese want their own personal castle: the lure of medieval walls and picturesque towers is therefore strong enough to reach even the Far East.
But what is the profile of these foreign buyers so fascinated by Italy?
In most cases, people who invest in Italian luxury properties are wealthy people of mature age with a very high cultural level. However, middle-class investors who aspire to enjoy the Italian lifestyle and beauty are also increasing.
Even VIPs buy a house in Italy
Interest in Italy is also kept alive thanks to movie, music and entertainment stars who choose the Bel Paese to buy their holiday home. Starting from Northern Italy and continuing towards Southern Italy, we find George Clooney and his now famous Villa Oleandra, on the shores of Lake Como. Robert Pattinson, the protagonist of the Twilight saga -who now also plays the role of Batman- has also taken up residence in the surroundings.
Moving to Veneto, we find instead Leonardo Di Caprio‘s penthouse in Verona and Elton John‘s property in the ever-enchanting Venice.
Then comes Tuscany, which has managed to conquer Sting (who has renovated a sixteenth-century villa not far from Florence) but also the designer Paul Smith and the director Alfonso Cuarón, both in the province of Lucca. In nearby Umbria, there are the houses of the actor Colin Firth (who even earned Italian citizenship) and the director George Lucas, who bought and restored the former Capuchin Convent of Passignano sul Trasimeno.
Finally we find Puglia, a region that has attracted the attention of a starry triad of actors: Meryl Streep, Helen Mirren and Gérard Depardieu.
In short, even great Stars dream of their own fairytale home in Italy… and how can you blame them?
Ideal homes for foreigners who choose Italy
The three watchwords for the perfect luxury home are: accuracy, tradition and land. Whether they are Americans, English, Germans or otherwise, those who buy a house in Italy are looking for independent solutions, preferably with a garden or in any case surrounded by greenery. It’s also important that the property reflects the Italian history and lifestyle in the architectural style as well. When the buyer’s choice falls on a historical building to be refurbished, the restoration phase requires special attention, so that the appearance and structure of the property are not distorted by lack of competence.
What are the best locations for real estate investments by foreigners in Italy?
Where surprising landscapes expand… It’s there that Americans, English, Germans and all the other investors buy their Italian home, often on the shores of a lake of rare beauty or on an idyllic view of the countryside. Among the most popular locations we find especially:
The region dreamed of by most foreigners, in particular the Chianti area (it’s no coincidence that Tuscany is called “Chiantishire” abroad) and Lunigiana, rich in picturesque villages, which encloses sea, hills and mountains in a single territory.
It’s the land of lakes par excellence: the most loved are Lake Como, Lake Garda, Lake Maggiore and Lake Iseo.
It’s impossible to ignore Liguria, which gathers some of the most beautiful areas of Italy: Cinque Terre, Portofino and perfectly preserved old villages.
When we think of Piedmont, we immediately imagine Monferrato, a hilly town characterized by vineyards and suggestive castles.
Moving south, Puglia reigns supreme in the hearts of foreigners. In particular, the Salento area, the “heel” of the Italian boot, offers sceneries that really leave you speechless.
During 2021, requests have also increased for regions that are not included in these top five but which are popular destinations too. First of all, Marche and Umbria regions. However, there are many places that foreigners have shown to appreciate, including famous areas and less known zones (but no less fascinating).
The 2022 trend real estate investments in Italy by foreigners
In the near future, the real estate market in our Bel Paese will remain stable, also due to its competitive prices (especially when compared to those of other markets). There will certainly be opportunities for those who dream of owning a property in Italy: in particular, the sector of historic homes is becoming more and more interesting.
This fact confirms that Italy remains one of the most stimulating markets to invest in a prestigious property that doesn’t lose its value over time. So why should you buy an apartment in New York when there’s a castle waiting for you in Italy?
Make a wish and find now the Italian mansion of your dreams!
A fairytale castle or an historic villa restored with competence and precision isn’t only our customers’ dream, but also ours.
At Chianti Restorations we’re specialized in restoring ancient luxury residences, real architectural treasures that are just waiting to be inhabited again. That’s why there are many foreigners in love with Italy who turn to us to realize a fantasy that, otherwise, could not become reality.
Do you also dream of living in an authentic Italian castle?