Italy is definitely a great place to live, and many people are interested to buy a home in this lovely country. Not only for the magnificent locations, but also for the combination of affordable mortgages, renovation bonuses and few new buildings that is recreating a market for old houses, accelerating the redevelopment of decentralized areas.
For these reasons, choosing the Italian suburbs may be a good idea if you desire to relocate in this stunning country to begin a new chapter of your life, enjoy pleasant holidays or rely on rental income.
Increase Of The Prices Per Square Meter
Il Sole 24 Ore has carried out a study analyzing the peripheral areas of 11 Italian regional capitals to identify the neighborhoods where prices per square meter are expected to rise over the course of the year. The areas were chosen because, in many cases, they are interested in redevelopment projects, such as a new metro line or new connections.
The suburbs are acquiring a new light and, from this perspective, are increasingly in demand. This change is also due to people’s tendency to prefer a quieter and simpler lifestyle. Small towns, suburban and country areas are being revalued, especially if they are well connected to the urban centers.
For example, according to data collected by the Sole 24 Ore, many people have decided to buy a house in Tuscany because there has been an increase in prices per square meter here. This figure was mainly related to the area north of Florence, near small towns such as Fiesole, Sesto Fiorentino or Bagno a Ripoli where the increase has reached the 3% circa.
Judicial Auctions, An Opportunity To Consider
Buying a property is an important decision to make, always supported by an economic analysis. In Italy, judicial auctions regularly offer a selection of houses.
According to data on real estate sales through judicial auctions collected by NPLs RE Solutions’ AstaSy Analytics Study Centre, in 2022 the highest figure was found in North-Eastern Italy (up to 42.15%) followed by Central Italy (28%), whereas Southern Italy had only 16% of the total and the major islands only 14%.
To be even more precise, Lombardy is the leading region for judicial auctions, with 18.63% of the total Italian real estate units auctioned, then comes Sicily (9.95%), Lazio (7.64%), Tuscany (6.82%) and finally Veneto (6.72%).
Tax Benefits And Incentives
If you want to buy a home in Italy, you should consider that there are some tax benefits. For example, if you want to make a profit from your investment, the flat-tax rate scheme for short-term rentals is reserved for non-resident buyers.
Moreover, Italy is one of the most desirable locations for those who want to buy a house, also thanks to the new bonuses offered by the Italian government. Indeed, subsidies linked to renovations to improve energy efficiency and earthquake-proof improvements have helped to liven up the real estate Italian market in recent years.