British demand for Italian second homes rises by a third
The three top regions for British second home buyers are Tuscany, Puglia and Abruzzo – and their demand for Italian property has grown by a third in the last year, says a top website.
Britons are the leading buyers of Italian property through online provider, Gate-Away.com, followed by the Americans, Germans, French and Belgians.
In fact, demand from UK property seekers rose by almost one-third (32%), according to the Gate-Away 2015 Annual Report.
The average value of property sought is around €300,000, with buyers favouring detached houses over apartments.
Most buyers (70%) are looking for Italian properties worth up to €250,000, with 39% wanting homes up to €100,000. Around one in 10 (11%) of buyers want luxury homes.
Gate-Away.com General manager, Simone Rossi, says, “The preference for properties in the medium to low bracket reveals a characteristic tendency of the English not to consider renovation as an obstacle, but to view it as an opportunity to give a personal touch to the property.
“Requests received through our portal for properties partially renovated or to be restructured come to more than 30% in total. Another aspect that characterises the British buyers, says Simone Rossi, is dealing with modernisation and restoration projects, relying on local craftsmen and using materials appropriate to the original style of the chosen property.”
Use of restoration materials, attention paid to practitioners of local building traditions and the choice of furnishings in line with local traditions are often found in English potential buyers corresponding with a typical outline: these are often people with moderate to high cultural knowledge, almost always frequent travellers, demonstrating a love of the Italian lifestyle, not only the fashion, luxury or food – the more obvious things – but also the nature of the country, with its history, roots and traditions.
“A customer’s age, education and tendency to travel – added the general manager of Gate-Away.com – ensure that, when searching for a property, there is a willingness to, as much as possible, respect the characteristics, at times giving new life to the structure in an excellent way, then adding the personal touch common to foreign buyers, especially the British.”
Tuscany remains in first place in the rankings, while the increase in interest for Puglia brings it to second place, even though up until a few years ago it was unheard of and it’s a similar case for Abruzzo, which is a close third. Liguria is fourth and Piedmont fifth place.
Looking at the favourite cities targeted by British buyers, Ostuni, Carovigno and San Vito dei Normanni in the province of Brindisi, are in demand. In addition, the Tuscan town of Fivizzano in Lunigiana and Syracuse in Sicily.
Gate-Away.com has more than 18,000 properties currently for sale by more than 360 Italian real estate agencies and more than 1,700 private owners.
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