Investors from abroad love to invest in Milan and Rome

That Milan and Rome - for quite different reasons - are the two most coveted destinations in Italy is undeniable. The former is a city on a human scale, an international fashion hub, and one of the favorite cities for so-called commuters, boasting a wide range of offerings. The latter is the capital of the Boot, one of the most beautiful cities in the world but fraught with livability issues, from a reduced job market to inefficient transportation. With their strengths and weaknesses, Milan and Rome are the top choices for wealthy foreigners looking to purchase luxury properties in Italy. This is the scenario described by LuxuryEstate.com, the leading real estate portal in the luxury sector and partner of Immobiliare.it, which has studied the search habits of those abroad intending to invest in luxury homes in Italy. When foreigners choose to invest in luxury accommodations in Italy, the Milanese capital and the Capital city vie almost equally, outpacing all other locations: Milan is indeed the most sought-after destination, accounting for approximately 19% of total searches, but Rome doesn't disappoint (18.6%).

Following, albeit far behind, are two other major Italian cities, namely Florence (7.6%) and Venice (5.6%). This data confirms how, when making such an important choice, an investor wisely considers investing in cities where tourism is well-developed. Despite the Venetian city's goal of defining a new system for managing tourist flows and discouraging daily tourism during certain periods after launching the access contribution, according to the collected data, on the first day of the initiative, 113,000 people were recorded, of which 15,700 were paid, numbers that suggest the introduced tax will not annihilate tourism. Examining the origin of the searches, luxury properties attract primarily wealthy Germans. From Germany comes indeed 18.5% of the total demand in Italy, a figure significantly higher than that of all other foreign countries. In second and third place on the ranking are two other European countries, France and Poland, which however do not even reach double digits, totaling respectively 8.6% and 8.2% concerning the quantity of searches towards Italy.