When it comes to looking for places in Italy to invest in real estate, you will be spoilt for choice. Italy is a beautiful country drawing in millions of tourists every single year.
This, and many other factors, makes the real estate market in Italy stable.
If you are wondering whether putting your money into Italian investments is a wise move, this article has you covered. You will get the necessary tips before starting your real estate investments in Italy.
Real estate can be a risky affair, even in Italy. You may have come across adverts from companies selling real estate assets.
Some may be genuine while others may not. To be certain whether a company is genuine or offers fair prices, always read their reviews.
Besides other things, you are going to incur a lot, of course, setting up real estate in Italy.
Services that may come in handy when moving to Italy include money business money transfer services. You can read some reviews about Revolut if these are the sort of services you are looking for.
Before starting your investment, it is also important to do your research on the energy plans in Italy.
Considering and having these things in check will set you off for a good real estate investment in Italy.
The following are the best cities in Italy to invest in real estate:
Milan is Italy’s financial hub, attracting fashionistas, financiers, and foreign investors.
Home to several universities, the city has several high commercial value areas making it an ideal place to start a real estate investment.
The residents of Milan love purchasing a property. The Italian IRS report of 2021 indicates that the property purchase rate in Milan is 84% as compared to the national average.
Milan is an international city and attracts millions of tourists yearly. In 2019 alone, 10 million tourists visited Milan.
With a population of 3.1 million permanent residents and a high number of tourists, Milan makes a good place to invest in both residential and commercial real estate.
One of the factors to consider while making a real estate investment is the tax advantages. Florence is a tax paradise.
This beautiful city in Tuscany is attractive to investors because of its fiscal advantages.
Being the home to 60% of the world’s art heritage, Florence hosts about 16 million tourists every year.
The cultural city is a vacation hotspot. What better place to invest in commercial real estate than in the City of Lillies.
Located along the Mediterranean coast, Naples has a warm climate which has made it a popular place to live.
It is the third most populous city in Italy with a population of more than 3.1 million residents.
You are assured of getting profit from residential real estate.
The city of Verona is more than 2000 years old making it one of Italy’s oldest cities. It has been listed by UNESCO as a world heritage site.
This ancient city is also home to Shakespeare’s Romeo and Juliet.
The elegant ancient structures make Verona a magnet for visitors around the world.
It hosts several annual events including operas, which attract a large number of tourists who stay for short periods.
This makes Airbnb a solid investment in Verona. Additionally, the short stay by tourists attracts high rental prices.
Buying rentals and renting out to the tourists is certainly profitable.
Lastly, Turin.
The beautiful city of Turin which is the fourth largest city in Italy could be the best place to make a real estate investment.
Starting with the prices, Turin has relatively cheap prices for property which as of June 2021, was €1830 per square meter.
Turin is home to popular football clubs such as Juventus and is popularly known for hosting Olympics, having hosted the Winter Olympics in 2006.
The city is also hosting the Nitto ATP finals which began in 2021 and will run through to 2025.
These events are in favor of Turin as being the best place to make a real estate investment.
Additionally, it has a good student population having the third-largest university in Italy which is the University of Turin. Yields are very high when you rent out.
Interestingly, whereas the population of Italy is declining, that of Turin is increasing, albeit slightly every year.
There is no doubt that Bel Paese is one the best countries in the world to make a real estate investment.
In addition to the elegant cities and vast tourist population, there are generally no government-imposed restrictions on the purchase of real estate property by foreign investors.
You can rest assured that your money is safe.