Italian Second Home Market Holds in 2011

7 July 2011 - Buy Association

The second home market in Italy has weathered the housing market quite well during the housing recession and is looking like an excellent opportunity for many overseas investors. Many have looked upon having a second home in Italy as a lavish expense, but property values remaining how they are and the current market show that this expense could prove quite the investment.

Not only has property in Italy remained steady but tourist areas have increased in property value in the past couple years. Finding a home in a high tourist area may cost a little more but the long term value seems rather significant. These are areas like Courmayer in Valle d'Aosta, Forte dei Marmi in Tuscany and Porto Rotondo in Sardinia. Madonna di Campiglio has also seen a price increase for new or prestigious homes.

Italian property has frequently been described as the best in terms of markets in which to own a second home. Consequently this has contributed to keeping the Italian property market steady. Italy, still seen as an ideal place for a vacation, has been able to maintain its property value in tourist places in particular. With current vacation trends continuing to prove Italy will remain a vacation hotspot, the property value should likely remain constant for the next year.

Interestingly, half of the homes purchased in the tourist areas of Italy have a surface area of about sixty square metres. Around thirty six percent of the homes are medium sized and fourteen percent of the homes measure over 120 square metres.

If we consider this data we can see that small homes in Italy, especially in high tourist areas, are still quite valuable even during the housing recession. A second home in Italy continues to be a dream for many and, while that is still the case, the overseas property market in Italy should do well. While many investors are looking at caution in certain markets, a second home in a tourist frequented area in Italy seems like an excellent investment.