- Foreign buyers bought for 5.5 billion euros worth of Italian real estate in 2016 according to Nomisma (Real Estate Observatory)
In an article published by Idealista.it (one of the three top Italian portals) we could read that foreign buyers were responsible for 5.5 billion euros worth of transactions, which is a record since 2007 as you can read below in original language:
“I loro investimenti nel 2016 sono tornati alle cifre di investimento che si registravano nel 2007, prima della crisi: oltre 5,5 miliardi di Euro.” (source Casa.it blog)
What countries are buyers coming from ?
Although there does not seem to be national data on this, a report in collaboration between Nomisma and Engel&Volkers allows to have a look at those figures in some key areas.
However, the proportion of Germans may be strongly biased as Engel & Völkers is a very strong German brand and may therefore capture a high proportion of the German acquisitions.
Lake Maggiore
In the Lago Maggiore area, according to this report, “80% of buyers is made up by foreigners” as you can see on the graph below extracted from this report. Germans, Swiss, Russians lead the way:
Lake Como
“Owning a property on Lake Como is still a very attractive element both for the rich bourgeoisie of Northern Italy and the foreign demand from Russia, Germany, Switzerland, United States, France, Denmark and the Netherlands. New nationalities include Chinese and Arab investors.”
Very high proportions of foreign buyers were noted in all of the lake regions as you could read in an article of one of the leading national newspaper Repubblica.it , although foreign buyers were also very present in other cities and areas such as Milan, Siena, Northern Lakes, Rome, Esmerald Coast, Langue (Piemonte), Lucca, Venice, Tigullio and CinqueTerre, Riviera Romagnola, and Amalfitan Coast.
Thanks for reading my latest article on foreign buyers in Italy. For more information please consult https://foreignbuyerswatch.com/category/foreign-buyers-in-italy/ or reach out to me by message directly.