Why Is Italy a Prime Location for Real Estate Investment?
Italy’s cities are famous for their architecture, art, and rich history. They present a great investment opportunity, whether you’re planning to buy property for your own use or to as part of a rental portfolio. It’s a great time to invest:
- Italy’s transaction costs are lower than those of other European countries, such as Spain or Portugal.
- Italy’s historic cities are very popular with tourists but are also seeing urban development, attracting new residents.
- The Italian government has introduced new policies on tax deductions and incentives to encourage real estate renovation (particularly for energy efficiency) and investment.
Our Tips for Your Search for Real Estate in Italy
- To make the most of your time, consider chartering a private jet to Italy for your real estate search. This means you can fly when you want to; no hotel stays while you wait for flights, and no wasted time. You can also fly where you want to, as a private jet gives you access to dozens of airports not served by airlines. You will be able to fly more directly to your destination, saving time on transfers.
- Wondering where to invest? If you’re buying property for yourself, there may already be somewhere that’s captured your heart. If not, consider two cities with great investment potential: Rome and Florence. Rome, Italy’s capital, is one of the most famous tourist destinations in the world. Florence is in Italy’s central region, which has recently seen the most property purchases for investment (93.8% of the total purchases).
Real Estate in Rome: The Beating Heart of Italy
Rome is one of the oldest continuously occupied cities. It’s home to world-famous landmarks like the Colosseum, the Roman Forum, and the Sistine Chapel. It’s also the location of the Vatican, home to the Pope and center of the Roman Catholic faith. But Rome also boasts major companies and universities, fundamental to the continued robust demand for real estate property. More than 30 percent of passengers flying into or out of Rome are business travelers.
Rome weathered the pandemic real-estate dip remarkably well. Now, demand is rising strongly again. So what are the most popular areas of Rome for real estate investment? In first place with 40.8% of sales is Prati-Francia, home to the Vatican, Palace of Justice, Radiotelevisione Italiana headquarters and LUMSA University. This makes rentals desirable for both workers and tourists. 35% of sales are in the city center (mainly for holiday accommodation). In third place is Policlinico-Pietralata, which attracts students from the Sapienza and Luiss universities, with 23.3% of sales.
Flying to Rome
Rome has two international airports: Fiumicino and Ciampino. However, when you fly privately to Rome, you can also land at the closest airport—Urbe Airport, only 3 miles away—or nearby Guidonia Airport.
Property Purchase in Florence: The Beautiful Capital of Tuscany
Florence is a small, compact, cosmopolitan city famous for its beauty, art, history, architecture and cultural flair. It’s home to the largest concentration of universally-renowned art works. The city’s numerous landmarks include the Archaeological Museum and the Cathedral of Santa Maria del Fiore. However, it’s also surrounded by some of Italy’s most scenic countryside and some of its finest vineyards.
Real estate in central Florence lost very little value during the market dip, and demand remains high. This is especially true in the area south of the Duomo, where the Piazza della Signoria sits amidst the city’s big attractions. These include the Uffizi Gallery (Italy’s most visited cultural attraction in 2021) and the historic Ponte Vecchio. Investment in this downtown area has been focused on holiday homes for some years, with many previous residential and business premises converted for this purpose. However, despite demand, Florence properties are generally cheaper than those in Rome, Milan and Venice, making it a fantastic place to invest.
Flying to Florence
Your private flight to Florence can take you to the Florence Amerigo Vespucci Peretola Airport in the city itself. Other airports that may be useful include Ampugnano Airport in Siena (30 miles) or Pisa International Airport (44 miles).
Italy: Affordable, Beautiful and Good Business
Italy’s historic attractions will always remain a huge draw. This in itself makes real estate investment there a wise business decision. However, new policies beneficial to both investor and visitors mean it’s a great time to invest. Properties are snapped up quickly, so book that private jet charter today, before you miss a golden opportunity!
