An update on the Italian real estate market and predictions for the rest of 2019

An update on the Italian real estate market and predictions for the rest of 2019

An update on the Italian real estate market and predictions for the rest of 2019

The Italian real estate market is often frequented by buyers who are determined to invest, despite the current state of said market. Nevertheless, similarly to any other country, the trends and trade in property are affected and determined by economic, living and political conditions, after the prolonged postponement of the formation of a new Italian government in 2017, levels of confidence in the market are rising in 2019.

This trend can specifically be tracked in Tuscany, where during the last 10 years, prices declined 40% in peak-to-trough terms. However, we are now witnessing the stabilization of prices, prominent cities such as Florence and Lucca both recording 1% growth in 2018. We can satisfy any request, from the apartment in the city center to a big villa/rustic farmhouse within nature, from the beach house or the mountain cabin.

Comparing Italy with other European countries growth both in pricing the first one remains lower than the average making Italy an ideal spot for affordable investments.

Furthermore new tax measures were launched by the Italian government, aimed at boosting the property tax within the country as well as removing multiple bureaucratic barries. This will not only make the process of investing easier for foreign investors but provides further good news for those with hopes of owning a property in italy.

High numbers of international investors throughout the past year hailed from the UK, America, and Germany, with the most popular areas becoming the lakes and northern Tuscany, and Puglia, according to Italian real estate market research. Past economic data shows the prices have remained fairly stable and affordable in these areas when compared to major Italian cities and metropoles, in which prices are increasing rapidly.

In line with the economic recovery, rents and yields on housing have risen because the economic conditions of Italian society and the labour market have increased the number of people renting their main residences. In 2019, housing demand is set to be increasingly oriented towards rentals by young people and those who want more flexible living and working conditions, including mobility, services and cost reduction.

Through these Italian cities such as Bologna, Naples, Turin and especially Milan and Rome will become attractive areas for real estate investment.

A key trend in Italian property continues: no longer is one single region or area preferred by non-Italian buyers, but the quest for ‘new’ undiscovered areas that are less touristy and offer a more authentic Italian lifestyle is key. As well as milder weather, lower property prices and living costs, some regions are now offering retirees favorable income tax rates. For the first six years of residency, the flat-rate tax of 7% on foreign income, will benefit eligible applicants moving to villages with less than 20,000 residents. The central and southern regions it applies to are Sicily, Sardinia, Campania, Basilicata, Abruzzo, Molise and Puglia. The government hopes that the scheme will attract people who have the economic resources that will positively affect the economy in these regions.

It seems that whatever political instability affects Italy, the Italian property market will always attract investors buying into the unique food, landscape, and lifestyle of Italy.

Get in touch with us on +44 (0) 20 3137 5067 or and we’ll help you understand more about the Italy real estate market for those moving from the UK.

Get in touch with us today

By completing this form, you agree to WGS Real Estate Terms & Conditions and Privacy Policy. Data may also be used to send relevant property news and marketing tips.

“I live in London and this company gave me an incomparable service! The Friendlyness and Professionalism of Giovanni and the team is far beyond. I will highly recommend WGS to anyone who wants to sell their house in Italy. WGS is not only an Agency that will just sell your house, It is a company that will look after you personally and make sure that you reach your target price and dealt with all the paper work.”
Elena C., London
“We recently put on sale our house in Italy . WGS took care of all the formalities, not only for the sale, but also help us to solve unusual administratives problems. I emphasize the great professionalism of Federico who took care of all the formalities in our best interests. Thanks a lot for your good job. Carmelo”
Carmelo Veronese, Belgium
“WGS Real Estate has been wonderful! WGS Real Estate has been wonderful. They helped me acquire a property from thousands of miles away. Giovanni Namio is fabulous! Any future transactions that I make will be supervised by WGS Real Estate.”
Monica B., United States
“Professional and friendly. WGS was very helpful and focused on my brief to find my ideal place. We met a couple of days after my request and they showed me three places that were in line with my requirements. Giovanni is very gentle, welcoming, empathetic. I recommend them!”
David E., London
“Rapidi e professionali Ho acquistato un bellissimo appartamentino a Milano, quando sono rientrata da Londra dove ho conosciuto i ragazzi di WGS Real Estate. Sono stati molto professionali e rapidi nella ricerca e nella preparazione della documentazione. Se volete vendere o acquistare, rivolgetevi a loro.”
Ilaria Pala, Milan
“I have had a great time dealing with Giovanni N. and his staff. He is friendly, knowledgeable, and always willing to go above and beyond for the buyer. I recommend WGS as one of the best Real Estate Companies I have come around!”
Mary P., New York
“We have recently used WGS Real Estate and we were very pleased. We will definitely be using them again!”
Santiago F., Manhattan
“Sambuca di Sicilia WGS helped me to sell my property in Sambuca di Sicilia. Thank you to the international Real Estate WGS and the team to helped me so list and sell my property located in Sicily, I wouldn't have done that all on my own.”
A.G., Sicily
Sign up for Property Alerts
Your Shortlist ()