The southeastern region of Apulia, known for its unusual conical structures, has become one of Italy’s most popular markets for second homes.
Italy's economy tipped into recession at the end of last year, according to latest figures.
Buyers flocked to Sambuca last week when it put empty houses on sale at €1 each in a bid to reverse decline. We joined the queue…
Milan continues to outpace its Italian neighbors in home prices and sales volume, while the smaller areas in its orbit remain quiet and affordable.
With relatively few transactions and tight restrictions on new construction, the island of Capri has been largely resistant to market turmoil.
In the past decade, home prices in Abruzzo — which includes the provinces of Chieti, Pescara, Teramo and L’Aquila — have dropped around 30 to 40 percent, although they now seem to have bottomed out, Ms. Nicholas said: “We think they could start to rise again soon. Last year was our best year in 10 years, and this year is following a similar trend.”
The Italian Riviera — a crescent-shaped coastal area bordering France, within the larger region of Liguria — has two luxury markets, agents said: the eastern Riviera di Levante, which includes the tourist hot spots of Portofino, Santa Margherita and Cinque Terre; and the western Riviera di Ponente, which stretches from Genoa to France. The two areas are similar, agents said, but the east is more hyped, and consequently more expensive.
The global real estate crisis of 2008 affected the housing market throughout Italy, with prices falling by 20 to 30 percent, and Piedmont followed the national trend, brokers said. But after several years of decreasing prices, Piedmont’s housing market has begun to stabilize in the past 12 to 18 months, said Eli Anne Langen, owner of the brokerage Case in Piemonte. The region’s 2014 designation as a Unesco World Heritage site contributed to that recovery, creating “a noted increase in tourism and investor interest,” Ms. Langen said.
Palermo’s property market has been slow to rebound from Italy’s economic struggles. Prices are down about 20 percent from 2012, said Diletta Giorgolo Spinola, the head of sales in Southern Italy for Sotheby’s International Realty.
While prices in most of Italy’s prime second-home markets declined last year — on average, about 5.5 percent — the Lake Como area was an exception, according to a recent report from Knight Frank. Prices around the lake rose by 1.2 percent, the report said, reflecting the area’s popularity both in Italy and abroad, and its proximity to the Milan airport and the Swiss border.
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