Overseas property investors are being attracted to hidden Italian locations and helping to boost the Italian property market.
Rather than well-known tourist destinations such as Rome or Florence, overseas property investors are starting to purchase in hidden destinations that are less well-known.
According to the latest report from Italian property website Get-Away, the popular tourist destination of Lake Como saw a drop in interest of 22.6 per cent in the first six months of 2018.
In contrast the lesser-known or ‘hidden’ locations of Lake Iseo and Lake Maggiore saw an increase of 76.98 per cent and 64.65 per cent respectively.
Lunigiana – a little known territory straddling Tuscany and Liguria – saw a 21.91 per cent increase in buyers, while Maremma in southern Tuscany is another destination gaining popularity among overseas property investors.
Salento also witnessed a rise of 12.19 per cent in purchases by international buyers in the first half of 2018, when compared to the first six months of 2017.
The number of British overseas property investors showing interest in Italy and its hidden locations was up by 14.52 per cent compared to last year, to represent 13.94 per cent of all overseas buyers.
This put us in third place in the international table behind the United States at 17.23 per cent and Germany responsible for 14.7 per cent.
Get-Away general manager Simone Rossi commented: ‘The change in Government has had an impact but the general increase of 17.1 per cent in enquiries registered between the beginning of January and the end of June, compared to the same period in 2017, demonstrates that nothing can stop the search for a second home in Italy.’
He continued: ‘It is evident that the formation of a government after a long struggle has reassured international investors. The stakes in the last elections were very high and created a lot of uncertainty in possible home buyers, for whom investing in a second home in an Italy with an unclear future would have been risky.’