Foreigners buying house in italy, boom in sicily
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Reference: Sole 24 Ore, 19 July 2019

Americans, British and Germans are the first buyers. The average value is at 350 thousand euros, but the demand under 100 thousand euros is increasing.

Americans, Germans and British are the most numerous who want to buy a house in Italy, with demand from foreigners increasing by an average of 1.3% in the first half of this year. Tuscany and Puglia are always at the top of the most popular regions, but there has been a growth in demand for Sicily.

These are the main information emerging from the report of Gate-away.com, an Italian real estate website exclusively dedicated to foreigners who want to buy Italian homes.

According to the website statistics, the main trend of the first six months of 2019, compared to the same period of the previous year, is the growth in demand for regions such as Sicily (+43.9%), Abruzzo (+18.4%), Umbria (+31.46%) and Calabria (+40.03%) which are respectively in the fifth, sixth, seventh and ninth place in the ranking of the 10 most requested regions, where for years, Tuscany has been in first place, now suffering a slight decrease of 10.15%. Followed by Puglia, Lombardy (which is driven by the area of Lake Como, which is still the most requested area in Italy), Liguria, and in eighth place Piedmont and Sardinia in tenth place. The countries from which most requests come from are USA (17.9%); Germany (13%), UK (12.4%).

Despite the fact that independent houses are preferred instead of apartments, the demand for the apartments has increased by 11% compared to the last year, offering more opportunities to those who want to sell.

More than 66% of the requests that arrive at Gate-away.com concerns homes that have been completely renovated or are already habitable, while 13.6% are for homes to be renovated; while the new one represents the 8.7%.

Also during the first half of 2019, there was an increase in demand for properties priced under 100 thousand euros and those over 500 thousand euros. The average value of the properties requested is 353,885 euro.

I remember that January 2018 presaged a Record Year - says Simone Rossi, general manager of Gate-away.com - we reported an increase of +44.8% compared to January 2017. But then, with the Government instability and, above all, the Italexit risk, in May 2018 we had a -7.3% decrease. The panorama at the beginning of 2019 actually rebalances the growth trend. Even if in the first months (January, February and March) we have registered a slight reduction compared to the record numbers of the beginning of 2018 , from April to June the demand started to grow again, achieving a +28.9% in May".

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