Italy’s prime prices increased 6.5% on average in 2022, outperforming the global average
Sardinia, Lake Como and Florence led the rankings in 2022 as resort living and Italian culture attracted global buyers
1 minute to read
Italy’s cities and resorts have shone bright since the pandemic as the transition to hybrid working and a focus on health and wellbeing, along with the country’s innovative flat tax has sparked interest from HNWIs globally.
Global demand for Italian homes has driven prime price growth. The average change in prices across Italy’s prime residential markets sat at 6.5% in 2022, outpacing the global average of 5.2%. With dollar-pegged buyers growing notably active, the draw of the Italian lifestyle has continued to attract buyers.
Of the Italian markets Knight Frank tracks, Sardinia led the prime price rankings in 2022 with annual price growth of 12%, followed by Lake Como (8%) and Florence (6%).
We expect prime prices to rise in 2023 but the rate of growth is expected to moderate as economic headwinds dampen some of the pandemic-induced surge in demand witnessed to date.
If you would like to receive more of our Italian Research, you can subscribe here.
Read our latest Italian publication: Italian Homes, Villas & Estates