When deciding where to buy a place in the sun, there are lots of different factors that can influence your choice: is it a safe neighbourhood? Are there schools nearby? Is the gym within walking distance? If you’re guided more by exclusivity and price, though, this is the article for you. Let's talk a look at the most expensive and luxurious residential areas in Italy.
Rome is the largest city in Italy, the city with the most history in the world, with the most life and charm. The most expensive area codes are currently in Piazza di Spagna, Via Condotti and Via del Babuino. The highest prices in the city's ranking were recorded here in the first half of 2016, at up to 20,000 euro per square metre, which is almost 2,000 for each square foot.
Almost 90 percent of the interested buyers are Italian citizens with the greatest demand being for historic buildings. Other popular criteria include modern accessories, an elevator, parking spaces in the city centre and views of the rooftops of Rome. If you want to feel like a real Italian, this option is for you.
Venice is the second most expensive city in Italy, having recorded transactions of 15,000 euro per square metre (1,400 euro/sq ft) in apartments located on the highest floors of the historic Grand Canal buildings.
The apartments in the classic Venetian properties with water views are especially sought after. Residential properties with high ceilings, lifts and rooftop terraces or balconies are in high demand. 70% of the buyers here are from abroad; most of them are British, French or German nationals.
Italy’s city of fashion and finance, Milan perfectly combines its extensive historical and cultural heritage with the latest trends. The most prestigious and expensive neighbourhoods are in the centre of the city, where properties reach prices of up to 13,000 euro per square metre, or 1,200 euro per square foot, even more expensive those located in the Quadrilatero d'oro della moda or Fashion Quadrilateral.
Properties in and near ski resorts are also a costly pleasure due to the lack of land under construction and the high demand, but on the other hand, it’s always a good investment: homeowners have very good chances of renting houses here to numerous tourists. Therefore, in a prestigious ski resort such as Cortina d'Ampezzo, an average one-bedroom apartment is valued at around 200,000 euro, while a two- or three-bedroom villa costs around one million euro.
The Lake Maggiore District is one of the most expensive, with the proximity of Switzerland making its mark. It is a respectable and quiet place where there are villas belonging to many aristocratic names from all over Europe. A large proportion of the investors here buy homes in the area for this reason and because of the mild climate near the Alps, which protect the lake from the winds. Also in the vicinity are seaside towns, ski resorts and hot springs.
The city of Stresa has been for several centuries a favourite holiday destination of the European elite. In Stresa and on the islands of the Borromeo archipelago you can see magnificent ancient palaces, monasteries and gardens.
Tuscany remains one of the most popular (and expensive) areas to buy a house in Italy among ex-pats. Foreign investors are particularly attracted to the so-called 'golden triangle' of Florence, Siena and Volterra, where, as is well known, the most expensive properties in Italy are located.
The most prestigious places on the Tuscan coast are the resorts in the Versilia Viareggio, Pietrasanta and Forte dei Marmi area. The latter is one of the most comfortable places in the whole province, famous for its garden areas, restaurants, boutiques and discos.
Another competitor of Forte dei Marmi is the Monte Argentario cape, one of the most beautiful places in Tuscany. Recently, many foreigners have been choosing properties here and even move from Forte dei Marmi, as the cape is much cleaner and more beautiful. In Forte dei Marmi, the landscape is quite flat and the beaches plentiful, while in Monte Argentario the cliff faces drop right down to the sea, opening to small, picturesque bays.
Lake Como is considered the most exclusive destination in Italy. The mountainous area and the famous lake attract rich people and bohemians alike who all want to live in elegant villas with lots of history. The supply of apartments is few and far between. The characteristic of this area is the lack of restaurants and supermarkets. Everything here is individual and has its own style. The most famous cities are Como, Cernobbio, Lalio, famous for their luxury gardens. The proximity of Como to Milan is an additional factor of interest for those who wish to buy a property here.