The United States and Germany together account for around a third (31.6%) of foreign visits for luxury residential property on idealista, Italy's leading real estate portal. This was revealed by a study prepared by idealista, based on searches for houses for sale on the portal with a real estate value of more than one million euros made from abroad during 2023.
"Although it is considered a favourite tool for investors to protect their capital from inflation, for portfolio diversification or as a refuge in times of uncertainty, foreign investment in the luxury real estate segment shows surprising resilience. Despite the geopolitical turmoil of 2023, it has remained essentially stable," commented Vincenzo De Tommaso, Head of idealista's Research Department.
Distribution of foreign demand for luxury properties.
The United States (15.9%) and Germany (15.7%) dominate the landscape as the main luxury buyers in Italy. They are followed, but at a distance, by Switzerland (6.7%) and the United Kingdom (6.4%), while France and Poland (both 5.4%) complete the top places. Together, these countries account for more than half of the visits for cross-border private capital investments in 2023. The Netherlands (4.5%), Spain (4.2%), Austria (2.8%) and Canada (2.7%) complete the top 10.
Favourite destinations for foreign buyers
The main destinations for foreign investors, with a volume of visits that sometimes exceeds the total number of visits from the national territory, are: Verbano-Cusio-Ossola (59%), followed by Syracuse (57%), Venice (52%) and Como (50%). Moving down the ranking, in the top 10 we also find the province of Salerno (48%), Gorizia and Trapani (43%), then Messina (42%) and Imperia (41%). Conversely, the provinces with the least international appeal are: Caserta (6%), Pavia (6%), Ferrara (8%), Lodi (8%) and Piacenza (9%).
If we narrow our gaze further down to the provincial capitals, the weight of foreign interest in luxury homes is even greater than domestic demand in Venice (56% of visits out of the total) and Verbania (52%). Other popular markets for international luxury customers are Syracuse (48%), Como (47%), Lucca (46%), Imperia (42%), Trieste and Siena (both 38%). Florence (35) and Lecce (32%) close the top 10. The comparison between the main markets sees Rome in the lead with foreign demand making up 19% of the total, Milan 13% and Naples 12% of city demand.
Buying luxury real estate in Italy
Buying a luxury home in Italy is not only a financial investment but also an opportunity to immerse yourself in the country's rich cultural heritage and unparalleled beauty. With careful planning and expert guidance, you can fulfil your dream of owning a piece of Italian paradise.
Luxury homes in Italy come in various forms, including historic villas, renovated farmhouses, palazzos, and contemporary estates. Consider your preferences, whether you seek a waterfront property, a countryside retreat, or a chic urban residence. For more advice on navigating Italy's luxury real estate market, check out our guide on where to find luxury homes in Italy.