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Foreign demand for luxury Italian real estate growing: 14% of Germans looking for houses worth more than €1 million

by Emiliano Sgambato

A recovery in the Italian real estate market is giving added impetus to a sector that has felt the impact of the economic crisis less than others: luxury. This is a segment where foreign demand has made a decisive contribution in these years of crisis. The latest figures from, a portal specialized in real estate brokering for foreign users, show that requests for houses worth more than €1 million are up 67% since the start of the year.

In the first 10 months of the year, Germans have shown the most interest in luxury property: almost 14% of requests from Germany have a budget of more than €1 million. They are followed by the US (13.1% with a budget over €1 million), Switzerland (10.2%), Britain (9.1%) and France (7.4%). Closing off the top ten are Belgium (6.6%), the Netherlands (5.43%), South Africa (2.2%), Sweden (2%) and Canada (1.9%).

“The report confirms what was shown in our spring figures regarding the luxury segment,” said Simone Rossi, director-general of “It is interesting to note that the rate of growth in specific requests for quality property, now at 67%, widely exceeds the general rate of 52%, which for us is already a positive figure in itself. It's even more positive for those who want to sell a house to foreigners,” he said.

But what are the favorite regions for people looking for a second house of luxury in Italy? According to, Tuscany is in first place, followed by Lombardy, Liguria, Puglia and Sardinia.

“The choice tendency differs however if you explore search trends with respect to specific cities,” said “Ostuni is always leading, followed by Bellagio and Rome. More in general “there is a preference for coastal areas and lake environments, with Lake Como gaining constant interest from investors.”