Europe | Italy
Italy
Values in Italy’s prime markets, including its prestigious mountain
and summer resorts, continue to be driven by a limited supply
Italy’s mainstream housing stock is characterised by aging €15,000/sqm and values are forced higher in areas where
properties that were developed between 1950 and 1970, there is a limited supply of properties that are befitting
which have been poorly maintained. This situation has prime status.
generated demand for newly developed homes, which is As a result of the prime market, the high and
reflected by the strong growth in new apartment prices increasing values in city centres are leading to a rise in
across Italy’s main cities. Since 2000 prices have increased suburban living in Italy. New homes are increasingly
by 150 per cent to €2,400/sqm. developed in areas peripheral to cities.
In general, there is a greater propensity for new homes
to be constructed in the north of the country than in the Second homes in Italy
south. This is largely because Northern Italy is viewed as The second homes market in Italy is strong, driven by
more stable for development and investment. domestic demand, as well as overseas buyers, particularly
from the UK. Second home owners look out for
Slowing price growth properties with a combination of charm and character, in
Average house prices have shown strong increases locations that benefit from good accessibility.
in recent years, which is connected to the opening of The advent of low cost airlines serving Italy’s regional
mortgage markets in the country. At the top end of the airports has supported demand for second homes.
market, residential property values in Italy are Rising values in some of Italy’s most prestigious
only exceeded in Europe by the prime areas of Paris and resorts such as the effortlessly stylish Cortina d’Ampezzo
London. Average prices for prime properties in Milan, in the Dolomites, the elegant lakes in Lombardy and
Rome and Venice Lagoon, for instance, exceed the prestigious Porto Cervo in northern Sardinia on the
“The second homes market in Italy is strong, driven
by domestic demand, as well as overseas buyers.”
Property Focus
High-end luxury
properties with
Italian style
Lake Maggiore, Italy
Enchanting property with 2 hectares of gardens and
a beautiful view of the lake and the Borromeo islands.
Price: €15 million
Contact: Milan, Italy
Stephanie Price ‘Orti Antichi’ are luxurious new apartments of varying
+44 (0) 20 7016 3740 sizes, situated in a refurbished palazzo.
sprice@savills.com Price: From €650,000
16 savills global residential review
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