Investment trends for Italian luxury villas
The general decline in investment in real estate by non-European capital is being felt all over the “Old Continent”, and are generally Countries with higher political risks that experience this: liquidity in foreign investment tends to focus on areas of Europe with very high stability.
However, this is not particularly true for luxury facilities, that suffered a sharp decline in prices caused by the current financial climate and that, in Italy, have seen a depreciation of around 25% in 5 years (in some cases the depreciation is higher).
This fall in prices in Italy has brought a new focus on luxury properties: foreign customers invest now mainly in coastal areas, in the most important cities and in the most famous areas of Italy.
Who are the biggest investors who buy the Italian “luxury”? If buyers, even in the field of high-end properties continue to be mostly Italians, in the years 2009-2012 the percentage of foreigners who have turned their attention to the Italian luxury real estate market has grown by 23%, compared to a decrease of 2.1% in the share of Italian.
24% of the search of Italian luxury homes made by citizens of other nations comes from Germany, followed are those made by France (14%), the UK (13%), the United States of America (12%) and Belgium (10%).
Are increasing also demands by Russia and China, two countries that continues to grow; each nationality seem to have different preferences in locations and kind of real estates.
To date, the curiosity is represented by the fact that the Greeks are increasingly present in the Italian luxury market, as the current economic situation in their Country and the risk of sudden and exhausting loss of purchasing power of the local currency are pushing Greek citizens to seek to shelter their assets abroad, especially if those assets are considerable.
The survey reveals, therefore, that for the purchase of luxury properties are still preferred “classic” areas in which Tuscany and Umbria have a leading role.