Italy Surpasses Spain For Second-Home Investments

More and more people dream of their own place under the Italian sun. The combination of the Mediterranean climate, rich culture, world-famous cuisine, and relaxed lifestyle makes Italy one of the most desirable locations for a second home. But how do you approach such a purchase wisely?

With an impressive 30% surge in buyer interest by Q3 2024, Italy's real estate surpassed last year’s leader, Spain, both in growth pace and the total number of buyer inquiries sent.

There are multiple factors behind this growth. These include rising interest from US buyers in addition to changes to Golden Visa programmes in Spain and Portugal; anticipation for the 2026 Winter Olympics is further fuelling investor interest in Veneto and Trentino-South Tyrol.

The appeal of Italy is multifaceted. Many buyers are enticed by thoughts of long summers, authentic villages, and the opportunity to experience the 'dolce vita' lifestyle firsthand. Additionally, a second home in Italy offers interesting rental opportunities during periods when you're not there, which can help cover costs. Starting a hospitality business, renting out rooms or apartments, or setting up a campsite is also part of many people's dream.

When searching for a second home in Italy, a well-thought-out approach is essential, plus a large dose of realism.

Start by determining your budget and the region that appeals to you. Popular regions like Tuscany and the Amalfi Coast are generally more expensive, while lesser-known areas like Le Marche or Abruzzo often offer better value for money. Calabria is starting to attract attention, but keep in mind it can get very hot away from the coast, while snow is not uncommon further inland. Piedmont and Liguria are very attractive due to their proximity to major international airports - Milan Malpensa (MXP) and Turin (TRN) serve Piedmont, while Genoa (GOA) serves Liguria. Le Marche is very popular with international buyers, Abruzzo is a vast nature reserve, and Umbria has recently gained better accessibility with Perugia Airport (PEG).

The best season to view houses is spring or autumn. In summer, prices are higher and it's often too hot for extensive viewings. In winter, you can better assess how the property performs under less favorable weather conditions.