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Italian holiday homes: Which nationalities favour which coastal regions?

Which foreign nationals are looking to buy and rent homes on the Italian coast? And which areas do different nationalities prefer? New stats reveal some answers.

Published: 19 November 2020 12:57 CET
Updated: 21 November 2020 10:01 CET
Italian holiday homes: Which nationalities favour which coastal regions?
Which nationality is most enchanted by Italy's famed Lampedusa island? Photo: AFP

While there are many property bargains to be had in Italy, prices are notably higher in coastal areas. Not only do many Italians own a second home by the sea, but these areas are of course very popular with overseas holiday home buyers.

And different parts of the country are often popular with different nationalities.
 
Based on website visits from June-September, the real estate portal Idealista has reported the areas that are most popular among holidaymakers from different countries, whether they are looking to buy or rent.
 
READ ALSO: 
The Covid-19 crisis does not appear to have slowed down the international property market in Italy, with some property experts instead reporting increased demand in some areas – mainly thought to be speculative interest from foreign investors.
 
In fact, 16 percent of visits to the Idealista website in summer this year were from foreign locations – mainly the United States, the United Kingdom and Germany.
But with the international second-home market remaining relatively stable, the hoped-for bargains are few and far between.
 
“Coastal areas, mainly tourism-oriented, have suffered the impact of Covid more severely due to mobility restrictions, which prevented the arrival of millions of tourists this summer,” Idealista writes, “But even so, prices have not dropped substantially as many expected in early March.”
 
Still, from the number of searches, it seems that relatively high prices along the coast don't seem to be putting off would-be buyers looking for their place in the sun.
 
Here's a look at the nationalities showing the most interest in Italian property, and the areas they want to relocate to.
 
 
The map created by Idealista clearly shows the two nationalties most interested in buying a second home in Italy: Americans and Germans.
 
This may not come as a surprise, particularly if you know that German tourists make up by far the biggest percentage of visitors to Italy – in normal years at least – at around 13 percent.
 
US nationals account for around three percent of tourism to Italy, and British and French visitors one and two percent respectively.
 
The vast majority of foreigners searching for property in Tuscany were from Germany and the US; Idealista writes.
 
 
 
The particularly expensive area of Forte dei Marmi (6,884 euros/m2) came from the US, while Monte Argentario (4,336 euros/m2) was another American favourite.
 
Germans appear to prefer Castiglione della Pescaia (4,549 euros/m2), and also completely dominated searches for homes on the Tuscan islands of Giglio and Elba. 
 
On the islands of Sardinia and Sicily, German buyers again dominate the market in remote and coastal areas, while Americans appear to be more interested in the cities, Idealista writes.
 
 
Sardinia is particularly popular with German buyers, especially the provinces of Alghero and Stintino.
 
In Sicily, house hunters from the United States were most interested in Lampedusa, Taormina, San Vito Lo Capo and Favignana.
 
 
 
In Liguria in the north, things vary a little more.
 
While Germans and Americans still dominate the searches, Swiss residents prefer some areas including Finale Ligure (4,190 euro/m2) and the towns closest to the French border are the most popular with French citizens.
 
Germans meanwhile go for areas such as Alassio (5,413 euros/m2) and Americans search most often in Santa Margherita Ligure (4,890 euros/m2).
 
 
Americans usually make up the vast majority of visitors to the Amalfi coast, so it's not surprising to find that they also top the rankings for home searches in this area,
 
US buyers prefer Positano, Amalfi, Praiano,Sorrento and Capri. 
 
Meanwhile, most foreign buyers searching for property on the island of Ischia come from Germany.
 
 
Further south, the region of Puglia offers lower property prices.
 
The wild Gargano area is preferred by German visitors, who account for most searches in Peschici (€1,475/m2) and Vieste (€1,644/m2). 
 
Germans also cominate searches in some areas further south in the region: Gallipoli (€1,652/m2) and Ostuni (€1,527/m2). 
 
Most demand for homes in the “white city” of Otranto (1,965 euros/m2) comes from Switzerland, while the region's most famous tourist town, Polignano a Mare, (€2,173/m2) is particularly popular among Americans.
 
 
 

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PROPERTY

Can you still buy Italy’s one-euro homes in 2024?

A lot has changed since Italy's 'one-euro' home offers first made international headlines, so are they still available - or worth considering?

Published: 14 May 2024 10:27 CEST
Can you still buy Italy’s one-euro homes in 2024?

The prospect of buying a house in Italy for less than the price of a caffè normale at the local bar caused a sensation back in 2019, when news of one-euro home schemes hit the international headlines.

There was a property stampede in Sicilian towns in particular, with local mayors reporting being overwhelmed with enquiries in English and other languages.

MAP: Where in Italy can you buy homes for one euro?

Even sceptics couldn’t contain their curiosity: Was it a joke? What condition were these houses in? And how much was this really going to cost?

Several years later, we know that these schemes are legitimate attempts to breathe new life into depopulated areas and unburden local authorities of old, unwanted properties that would otherwise be left to fall apart. And in some cases, at least, it has worked – and proved very lucrative for the towns involved.

We know most of these houses are in a very poor state of repair, requiring major investments from their new owners. And we know the costs can be high, with reports of some international buyers spending hundreds of thousands of euros on renovations – many times more than the property’s potential market value.

READ ALSO: Six things to know about Italy’s one-euro homes

But we’ve also heard from some readers who tell us that, while these homes do of course cost more than one euro, for a sensible buyer they can be a worthwhile investment.

Not only are Italy’s one-euro home offers still going strong in 2024, but new towns are joining the scheme, while others continue to announce similar ‘cheap home’ projects such as the rental programme in Ollolai, Sardinia aimed at remote workers – one scheme that’s expected to take off following the introduction of Italy’s new digital nomad visa in 2024.

So what do you need to know if you’re curious about these Italian property bargains?

As ever, if you’re interested in buying a one-euro home you’ll need to meet certain requirements which vary depending on the local authority. After all, this is not a nationwide scheme but a series of small initiatives run by local councils in each town or village, so you’ll need to carefully check the terms and conditions of every offer you consider.

Generally though, the following will apply:

  • Foreign nationals can buy one-euro houses, whether they’re EU or non-EU citizens – but remember owning one will not give you any residency rights in Italy, and visa rules will still apply to non-EU nationals.
  • The prospective buyer can’t just make vague promises about doing the place up: you’ll need to present a renovation plan within 2, 3 or 6 months depending on the village.
  • Buying a one-euro home to turn into a tourist rental business is generally allowed, but you’ll need to let the local authority know your plans when you apply.
  • The cost of the house, all renovation costs, and all notary, legal, transfer and other fees are the responsibility of the buyer.

Some things have however changed in the past few years which make buying and renovating a one-euro home less affordable than it once was.

Many buyers in recent years were further tempted by generous state subsidies available to cover the cost of renovation work – most famously the ‘superbonus 110’ which covered up to 110 per cent of qualifying expenditures.

READ ALSO: What taxes do you need to pay if you own a second home in Italy?

Though the superbonus is now winding down and is no longer open to new applications, it has had a knock-on effect which means renovations in Italy generally take longer and cost more than they used to.

The superbonus scheme’s enormous popularity led to an ongoing shortage of building contractors in Italy, who were booked up months, or even years, in advance.

And as the popularity of these offers has exploded, the most viable properties in some areas now often become the subject of a bidding war, with the sale price rising from one euro to tens of thousands.

Find a map of the towns currently offering one-euro homes in Italy here.

Have you bought a property through a one-euro home scheme in Italy? We’d love to hear from you. Please get in touch by email or in the comments section below to let us know about your experience.

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