Why buy a property in Italy
If you’re considering buying a property but aren’t sure whether it’s the right place for you, then this page will help you come to a decision.
There are many pros, and a few cons, of buying property in Italy, depending on your circumstances.
Italy buying pros #1: Affordable homes
Italy is not an expensive country. On a like for like basis, homes of every quality and in most locations are cheaper than other western Mediterranean areas.
Much of rural Italy, in particular, is incredibly affordable, as little as one euro (plus €50,000 or so in renovations costs, admittedly).
When buying a house in Italy, try swapping Tuscany for Umbria, or Messina for Trapani, and you’ll find property cheaper by over €400 per square metre.
Italy’s cities are around mid-table for property prices according to both Numbeo and the Global Property Guide. Statista claims that Italian property prices are well below average, at just over €2,000 per square metre for new housing and just under €1,500 per square metre for existing property.
[Discover the most affordable locations in Italy today]
Italy buying pros #2: A lower cost of living
Major cities and tourist hotspots are the most expensive places to live, whichever country you choose to live in. However, where the Italian cost of living really drops is when you buy a home in the countryside or outskirts of a small town or village.
In the more rural locations, local taxes are lower and fresh produce is cheaper. Transport, like trains, buses and internal flights, is also relatively inexpensive in Italy, making it cheap and easy to visit nearby cities from towns and villages. One of the biggest savings you’ll make is when you become a resident in Italy, as the equivalent of council tax has been abolished on a person’s main residence and you get reduced-rate electricity.
Italy buying pros #3: Excellent transport
Italy has excellent transport options, including more than 30 international airports, most offering low-cost flights. For US buyers, Condor, KLM and British Airways offer flights from across the States to Milan, Venice and Rome.
From London, flights to northern Italian airports typically take less than two hours and less than three hours to the south: easy for family to come and visit. There is also potential to make an income from letting out your Italian property to tourists (subject to necessary licensing).
Even getting your pet there is simple: take the ferry and drive through France – think of those lovely dog walks in the Alps! – or take the train.
Italy buying pros #4: The weather
You can expect to enjoy more than 2,000 hours of sun to fall on your Italian terrace each year. Climate is key to la dolce vita.
Most of Italy has a Mediterranean climate, with cool, wet winters and hot, dry summers. The mildest weather is along the coast and in the southern regions, including the islands of Sicily and Sardinia.
Winter temperatures seldom drop to freezing in the south, while summers often reach 35°C or higher. In the mountains, cold air from northern Europe can bring snow. For those into snow sports, there are 294 ski resorts dotted throughout Italy, even as far south as Mount Etna on Sicily, but mainly in the Italian Alps in the north
Every season adds beauty to the landscape, including fields of poppies and sunflowers, autumn leaves, snow-capped mountains and summer beaches. In Italy, you know you are going to get plenty of sunny weather to plan days out over the summer.
Italy buying pros #5: Healthy lifestyle
If you want to live a healthier lifestyle, look no further than Italy. For the price of a city flat in London, Paris or New York, you can buy a spacious villa in the Italian countryside where you can enjoy the fresh air and an outdoorsy lifestyle. It’s easy to eat well and live a healthy lifestyle.
The great Italian weather also provides ample opportunity to get outside and enjoy your garden. Go for walks, cycle and enjoy relaxing past times like yoga, horse riding or swimming. There are also many sports and leisure options on offer, including gyms, football, rugby, basketball, cycling, skiing and water sports. Italians also enjoy dancing to keep fit, and there are schools for all ages.
Italy buying pros #6: So much to discover
Italy is the fourth-most visited country in the world, so there’s a huge tourist market. That’s great news for anyone looking to rent out their Italian property. The Ministry for Tourism is also working hard to encourage people to look a little further off the beaten track, so even very rural areas can still drum up good business.
If you’ll have more free time after you make the move to Italy, start thinking about all the places you can visit. One of the most exciting things about moving is exploring the area. You’ll be amazed just how many places there are to visit just in your local area once you start exploring by car. You’ll soon discover the best beaches and villages to take family and friends to.
But don’t ignore the rest of Italy! Take a domestic flight to Rome, Florence, Venice, Milan, Naples, Pisa and Turin if you like, but the train and coach services are also well priced. Italy has 54 UNESCO World Heritage Sites, 7,600 km of coastline and many beautiful cultural cities just waiting to be discovered.
Are there any reasons not to buy property in Italy?
Potential disadvantages of buying a property in Italy are few and far between.
Those making a permanent move may worry that climate change could make summer days too hot. Temperatures on the Italian island of Sicily registered the hottest temperature in Europe in 2021, soaring to 48°C. Luckily, Italy is well-equipped for warm weather and there are effective ways to keep your home cool in the summer months.
[Read our top tips on keeping your European property cool in summer]
For investors, a repeat of the mistakes during the global financial crisis seems unlikely. The global financial crisis certainly hit Italy hard, with many investors overleveraged and needing to “flip” properties rapidly, and with developers running out of money.
While many people did lose money in those years, the result was a serious rethink among Italian leaders. Now, property laws have been tightened significantly and the world of Italian property has never been safer.