Luxury homes: over 25% of the total supply is concentrated in Milan and Rome
Over a quarter of the luxury real estate offerings in Italy are concentrated in the municipalities of Milan and Rome, with Florence in third place but far from the first two positions. The Tuscan capital in fact collects less than 3% of the total listings in the Bel Paese.
This is the picture that emerged from the latest analysis carried out by LuxuryEstate.com, the leading real estate portal in the luxury sector and partner of Immobiliare.it, which examined the distribution of the offer of luxury homes in Italian municipalities and compared the average prices of the advertisements in regions and cities of our Peninsula.
Trends in Milan, Rome and the major capitals
Milan is in the lead as regards the luxury offering and – among the major Italian capitals – it is the only one to show an increasing trend in recent years. In fact, the Milanese capital hosts approximately 16% of the available quality stock in Italy, a value that is up 0.4% compared to 2022 and 1.6% compared to 2019.
Rome follows, with just under 11% of the total Italian supply, but the stock shows a 3% drop compared to 2022 and 1.1% compared to the pre-pandemic period. Negative trends, compared to the pre-Covid period, also in Florence (-0.8%), Turin (-0.6%), Bologna (-0.5%), Venice (-0.2%) and Trieste (-0.2%). Naples, Bari and Cagliari remain almost stable – all three down by around 0.1% – as do Genoa and Palermo, whose value is practically unchanged compared to 2019.
How the regions behave
At the regional level, Lombardy and Tuscany are those with the highest percentages of high-end properties on offer compared to the national total: 29% and 22.4% respectively. But if the former sees an increase in its luxury stock compared to 2019 (+5%), the latter instead shows a slight decline (-0.8%). Lazio in third place with 14.8%, marking a -1% compared to pre-pandemic.
Just off the podium and practically tied are Piedmont and Liguria, both around 5% (but if the former is practically stable compared to 2019, the latter loses almost 2 percentage points). In fifth place is Veneto, which concentrates 4.6% of the country’s quality offering.
Tourist destinations: Como rises, Forte dei Marmi falls
Looking then at tourist destinations, usually highly sought after by the high-spending target, Como, famous for the jet set that buys villas on the lake, has been performing well in recent years, having recorded a 0.7% increase in the weight of its offer compared to that of the total Italian market, reaching 1.7% of the overall stock of luxury properties in our country.
The opposite process occurred for Forte dei Marmi, which from 2019 to today has seen the scope of its luxury availability decrease compared to the general one of the Peninsula by approximately 0.3%. Lucca and Santa Margherita Ligure also decreased to the same extent.
Portofino is the most expensive location
Moving on to a price analysis, the most expensive municipality to buy luxury homes in Italy is Portofinowhich with its average of 19,074 euros/m2 is clearly at the top of the ranking of individual cities. Behind it, Villasimius, in Sardinia, stands out, which on average offers luxury properties at 17,120 euros/m2, and Capri, which remains just below the average of 17,000 euros/m2.
In general, the data shows that tourist destinations, whether seaside or mountain, are far more expensive than urban centers and large provincial capitals. In the top ten positions, Cortina d’Ampezzo (14,700 euros/m2 on average) and Porto Cervo (14,209 euros/m2 on average) are also present. First among the large cities is Milan, which however is found beyond the thirtieth position, with an average of 9,151 euros/m2.
Widening the focus to the regions, the most expensive for those who want to buy a luxury property in Italy is Valle d’Aosta, where the average price is almost 9,173 euros/m2. In second place is Sardinia (8,775 euros/m2 on average), with Campania in third (8,517 euros/m2 on average).
You have to go down, and by a lot, with the price, to meet Liguria, in fourth position with just over 7,000 euros/m2 on average. Only fifth is Lombardy, which stops just over 6,900 euros/m2 on average.
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