UK buyers help in 14% surge in foreign property buyers in Italy

Italy has long been the favourite holiday destination for many nations. 

With beautiful beaches, stunning scenery and gourmet gastronomy, it is a country with something for everyone.

 ·         Italy ranked 2^nd top European country for tourism (Eurostat)

·         And 5^th most popular destination globally (The World Bank)

·         14% increase in foreign property buyers in 2012 worth €2.1  billion (Scenari Immobiliari)

Buying a second home in Italy has become increasingly attractive to foreign buyers. According to data from the Scenari Immobiliari research institute, 2012 saw an increase of 14% in second home sales to overseas buyers, with sales totalling €2.1 billion. 

The majority of buyers (almost 40%) were German, while 18% were British and 13% Russian.

Indeed its position as a top-ranking holiday location has been doubly confirmed of late. First, data from The World Bank, which examined almost every country across the globe, placed Italy as the fifth most popular world tourist destination. New figures from Eurostat then placed Italy as the joint second (tied with France) European country for tourism.

The figures are further supported by the latest residential research report from Knight Frank, which state that sales volumes in 2012/13 have strengthened, as international buyers look for long-term lifestyle purchases rather than short-term investment gains. International Residential Researcher Kate Everett-Allen comments,

"Despite the economic malaise, Knight Frank's Italian team agreed a record number of sales in 2012/13, up by 50% year-on-year."

This mix of foreign buyers is supported by new flights to many of Italy's airports, with Russia's Sheremetyevo International Airport recently announcing its summer flight schedule, which includes flights to a range of Italian airports.

Italy's Ancona airport is attracting particular interest, with Montenegro Airlines operating charters there during the summer months and Darwin Airline beginning four daily flights from Ancona to Rome from June 2013 in a code share with Alitalia. Flights to Ancona also operate from Albania, Germany, Belgium, Egypt, England and Sweden, as well as numerous internal Italian destinations.