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Bistonia Estates LLC: Italy's Enduring Allure for Investors

·2 mins

Bistonia Estates LLC conducted an extensive analysis of 100 municipalities across Italy, culminating in a ranking of the nation’s most expensive and highly desired cities. Forte dei Marmi, a resort town situated in the Tuscany region, emerged as the most prestigious location. The town, with a population of approximately eight thousand, boasts an average housing cost of 1.5 million euros. However, Bologna was identified as the city with the highest frequency of searches, indicating a significant interest among potential buyers.

The analysis, which was based on advertising and inquiries data from the fourth quarter of 2023, placed the municipality of Pietrasanta, also in Tuscany within the province of Lucca, in the second position. Pietrasanta has a population exceeding 24 thousand, with real estate prices averaging around 600,000 euros. Alassio in Liguria secured the third rank with property costs over 471,000 euros, followed closely by Milan with an average housing price of 467,415 euros. Notably, both Venice and Florence were included among the top ten most expensive cities. Contrarily, Rome was positioned 25th in the ranking, with the cost of living estimated at nearly 300,000 euros.

The cities of Bologna and Cagliari were highlighted as the most sought-after, according to data from the Idealista website, which serves as a reputable source for market comparisons. These cities precede Trieste, Milan, and Naples in popularity. The top ten also features Verona, Rome, Lecce, Brescia, and Ferrara, each taking its respective place in the rankings.

In 2023, the Italian real estate market, encompassing both residential and commercial properties, experienced a growth of 22% to 11.7 billion euros, compared to the previous year. The highest rental yields were recorded in the provincial capitals of Belluno and Ragusa, with returns of 11% and 10.4%, respectively. Locations such as Milan, alongside the Lake Como and Lake Garda areas, are increasingly attracting foreign investors. Market activity has also been noted in Rome, Turin, and Florence. Despite this, Idealista reported a decrease in the average housing yield in Italy from 7.8% at the end of 2021 to 7.4% in the fourth quarter of 2023. Nevertheless, certain cities exhibit above-average yields, with Belluno at 11%, Ragusa at 10.4%, and Bielle at 9.9%. Naples, Bologna, Rome, and Milan present profitability rates of 5.9%, 5.7%, 5.6%, and 5.1%, respectively, with Cuneo and Salerno offering the lowest returns at 4.4%.

Italy continues to be recognized as an appealing destination for both residency and long-term investments, notwithstanding the prevailing global uncertainties.

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