Luxury homes: where and what to buy in Italy
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In search of Italian well-being: between Milan and Rome or among the tourist destinations of Tuscany, the Amalfi coast, and the lake area, what opportunities are there in Italy in the luxury home sector?
How is this sector doing in Italy, and what are the expectations for the coming years?We Wealth asked Fabio Guglielmi, managing director of Santandrea Luxury Houses, and Leone Rignon, managing director of Santandrea Top Properties, who spoke of a sector that is doing very well, with purchases and sales that, in the last five years, have grown by 53 percent, and indeed positive expectations, both for purchases and sales in cities and for those Italian tourist resorts of the lake, sea, and mountains where people tend to look for a second home.
What differentiates the Italian luxury home market from other international marketplaces?What determines the Italian market from other global marketplaces is the diversity of the territory and the "Italian lifestyle" that makes Italy unique in the world. When we think of a happy and well-lived vine, the landscape, the shore of a lake, a bottle of wine, food, fashion, artistic heritage, and cities of art, and match it with the word Italy, everything becomes more desirable. Those interested in buying a luxury second home in a tourist location, tending to be foreign buyers, are so because they are looking for "Italian well-being" and Italian-ness.
In Italian cities, the international buyer buys to live there or because they are in love with a city of art, such as Florence or Venice, while in global metropolises (such as London and New York), they tend to do so for business-related reasons. The only Italian city whose trend in real estate values follows the trend (although it still does not catch up) of the "global cities" is Milan, this thanks to a growing financial recognition that increasingly unites it with the previously mentioned metropolises.