Houses in Italy: what to buy with a budget of €50,000-250,000

24.2.2023

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Are you a foreign investor and want to buy a house in Italy? Discover the most interesting cities to invest in

Italy has always been a popular destination for foreigners due to its high quality of life and mild climate, but in recent years the number of investors looking for economic opportunities and diversification of lifestyle in the country has been steadily increasing.
According to data compiled by the global real estate portal Gate-away.com the foreigners who had chosen Italy to invest are mostly Americans, Germans and British.
A report published by Coldwell Banker Global Luxury in 2022 remarks that approximately 92% of wealthy American investors are considering buying a property abroad and among the most popular European countries for home buying, they are considering Italy. The most sought-after locations are the Lake Como and Tuscany regions, but in recent years Sardinia and Puglia have seen a significant increase in popularity reaching some most famous European destinations such as Barcelona and St. Tropez.

However, to understand the interests of the international investors, it is interesting to consider not only the high-end real estate segment but also the rest of the residential market. According to Gate-away.com, 50% of foreign buyers in Italy have a budget between 50.000 € and 250.000 €: for this reason, we will consider this variation to suggest where it would be convenient to invest and what would be possible to purchase with this amount in the most popular Italian destinations and in some unexpected new entries.

The desire for a home abroad in Lake Como

Lombardy’s Lake Como is the haunt of celebrities such as George Clooney, who bought his mansion back in 2002, and the favorite set of many Hollywood directors who decided to give it credit through their films (from Star Wars to 007). Lake Como is one of the upscale Italian destinations, highly desired by Americans and many other European countries and for this reason prices here are much more expensive than other lakes in Northern Italy. With a budget of 250.000 € it is possible to find an apartment in the towns of the lake's hinterland, while if you desire a lake view in the style of George Clooney, the budget required is 5-6 times higher: in Como, for example, with 150.000€ you can buy a 70,9 square meters apartment. It should be noted that in recent years the real estate market has grown almost steadily and therefore it might be a good way to immobilize a part of your assets.

Tuscany remained the ideal destination

In Tuscany the most popular areas for foreign buyers are Florence and Lucca, as well as their respective provinces. In Florence, where prices have been increasing for years, a good investment could be an apartment near the historic center but to purchase it, possibly to rent out during the year and use only for vacation, over 4,000€ per sqm are needed, which translates to about 60 sqm of living space. Not exactly a palace. Choosing instead Lucca or a less-known town on the Tuscan hills, for the same investment, you can find small Tuscan farmhouses (80 – 100 sqm), which certainly have a unique Italian charm and can offer great vacation moments. However, in case of resale, there is certainly a longer period to consider compared to the solution proposed above. Also, the Tuscanian coast maintains its charm, but the prices are very high: with a budget of 150.000€ in Forte Dei Marmi you can buy just 31,9 sqm.

Italian way of living in Puglia

The area where it would be worth investing a similar amount is certainly Ostuni and the Valle d'Itria, where today prices are growing but still well below those of the more famous and renowned Salento: with a budget of 150.000€ you can buy indeed a 133,4 sqm house in Ostuni. Remaining in Puglia, with 250,000€ it is possible to purchase a typical house such as a trullo with 100 sqm of living space, a nice piece of land, and even an olive grove. These typical houses are highly requested on the market and represent the "Italian" way of living that many abroad envies. This clearly makes the investment even more interesting in terms of revaluation over time.

Sardinia and Sicily: The Mediterranean dream

All over the world Italy is associated with the Mediterranean Sea: beautiful beaches, great food and mild climate make Italian islands one of the most popular destinations by international investors. According to Gate-away.com, Sardinia has recorded in 2022 the highest growth of requests compared to 2021 with +73.87%. For this reason, the prices are quite expensive: with a budget of 150.000€, in Alghero - Northern Coast of Sardinia - you can buy 76,1 sqm and in the famous Porto Cervo, with the same budget, just 19,4 sqm. Sicily offers more possibilities: in the charming Taormina, in the East of the Island, you can buy a 102,8 sqm house with 150.000€.

Italian destinations that you should know

Investing in a second home in Italy not only offers the potential for a strong return on investment, but also the opportunity to own a piece of Italy's rich cultural heritage. A secret tip: Abruzzo and Molise are two wonderful regions, similar to Tuscany in some aspects, but here it is still possible to buy beautiful large traditional houses with land for less than 250,000€. In the near future, I am almost certain we will see an increase in demand, leading to a subsequent increase in prices. These regions offer a peaceful and relaxed lifestyle with a lower cost of living compared to other popular regions and are also home to some of the most beautiful hilltop towns in Italy.

Patrick Albertengo

Author's personal opinion

This article constitutes and reflects the exclusive personal opinion and assessment of its Author; it does not replace and cannot be considered in any way equivalent to professional advice on the subject matter of the article.
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He is ceo of Reopla, a proptech company specialized in big data analysis and innovative software for the real estate market, which he co-founded in 2015 together with his partners Gabriele Billitti and Consuelo Tarantini. Before Reopla, he co-founded his first startup JoJob, dedicated to sustainable mobility, together with his brother Gerard.