The rising demand for coastal homes in Italy

November 8th, 2009 | by Ainsley |

With its 7,600 miles of spectacular coastline, everything from spectacular rocky cliffs to long, sandy beaches, buying a property in Italy by the sea by the sea never goes out of fashion – worldwide crisis or not.

The most popular coastal region for buyers of second homes is Puglia property, where the Gargano area has seen a 17% rise in requests from prospective purchasers and nearby Salento a 13% rise.The second most popular coastal region is Sicily, with Syracuse, Messina, Catania and the entire east coast (which has seen rises of 9-11%) topping investors’ wishlists.

On the other hand, regions that have seen a drop in demand and prices include Liguria (requests 5% down in Cinque Terre) and Sardinia (down 4% in the Costa Smeralda).

Carlo Giordano, CEO of a leading Italy real estate portal, said: “The trend of prices and request reflect a new interest in areas of our country that until now were less known, while the fall in Liguria and Sardinia can be put down to the normalisation of a rise that in previous years reached levels that were perhaps too high.”

The main movers in the second-homes market are families with children who live in metropolitan areas. For them, a second home – as well as being an investment – may offer the best means of cutting down on the costs of going on holiday that can spiral with large families.

Second-home purchasing costs can typically range from €1,410 per sq in, say, Metaponto, Basilicata, to €5,170 per sq m in Liguria’s Cinque Terre coast. On the Emilia-Romagna riviera, expect to pay around €2,790 per sq m, rising to €3,850 on Tuscany’s Versilia coast.

More affordable are Calabria (€1,450 per sq m in the Costa degli Dei and €1,600 in Costa Viola) and Marches (€2,710 per sq m in the Riviera del Conero).

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