Sicily is in the international market spotlight. According to an analysis by Century 21 Italy, our island region is among the most popular for foreign investors to buy houses. According to the US real estate giant, Sicily is bucking the trend in terms of the number of purchases and sales in Italy and is experiencing an increase in rental prices due to the strong interest in the Trinacria real estate market. Prices in Sicily would still be more attractive than in the rest of Italy.
"Sicily is one of the most popular destinations for international customers and this is due to a number of factors," comments Marco Tilesi. CEO & Co-Founder of CENTURY 21 Italy. - First of all due to the beauty of the place, which is unique. And then because in Sicily price recovery in buying and selling has been slower than in the rest of Italy, in the face of rising rental prices, thus making renting, from the point of view of home buyers, a very profitable investment".
In fact, while purchase prices in the rest of Italy have recorded +2.3% in the last year, in Sicily property sales prices have marked a mere +0.9%, while rental prices, in Sicily more than in the rest of Italy, have risen sharply: +8% compared to an Italian +5.2%, leading to an average residential rate of 8.5% (the highest in the last 10 years).
In short, "rents will play a leading role in this market and rental prices will continue to rise," comments Sebastiano Pappalardo, broker of the CENTURY 21 Estates agency in Catania, "and to all this we can add that Sicily is an area that from the real estate point of view responds very well, sensitive and receptive to new opportunities in the real estate sphere. Among the best-performing provinces are Syracuse and Trapani, but also individual market towns, such as Noto.
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