Florence

Agenzia investimenti immobiliari | Firenze

Florence, former Majestic hotel reborn: new life for Piazza dell’Unità

By Columbus International,12 March 2025

After more than a decade of abandonment and decay, the former Majestic Hotel in Piazza dell’Unità in Florence will shine again by the end of April, transformed into a prestigious luxury hotel. The redevelopment project will not only return an iconic renovated building to the city but will also catalyze the regeneration of the entire square, which today is little more than a parking lot.

From symbol of decay to prestigious hotel

The structure, which extends over 12,500 square meters distributed across nine floors (three of which are underground), will be managed by the American hotel chain Marriott International under the “W Hotel” brand. The building’s history dates back to 1926, when another hotel of the same name stood in its place. The current construction, designed by architect Lando Bartoli and commissioned by Banca Popolare di Novara, was built in 1972 and inaugurated the following year. The bank occupied only the first floor and basement levels, while the rest of the property was used for hotel activities.

After closing in 2009, the building went through a long period of decline: from the failure of sale negotiations in 2014, to an auction in 2015, until it became a site of illegal occupations despite the installation of fences in 2011. The turning point came with the final acquisition and the start of redevelopment work in March 2022.

The new project: contemporary luxury open to the city

“Between the end of April and early May, we will inaugurate 60% of the rooms, while in June we will open the entire hotel, which will have a decidedly contemporary character,” explains Roberto Puccini, sole administrator of Progetto Majestic. The facility will house 119 luxury rooms, areas dedicated to wellness, and spaces for fine dining.

One of the most innovative aspects of the project is the creation of an internal courtyard that will be directly connected to Piazza dell’Unità through fully glazed entrances, creating a harmonious integration between the hotel and the surrounding urban fabric. “It has been a long journey: we purchased the property in 2015 and obtained permits in 2021, but finally in June we will cut the ribbon. We thank all the public offices of the Municipality of Florence and hope that the redevelopment of Piazza dell’Unità will proceed quickly,” adds Puccini.

A gastronomic and cultural hub

The ground floor of the building will house a large living area and two high-level restaurants: Trattoria Contemporanea, an established Milanese brand, and Akira Back restaurant, specializing in refined Asian cuisine. A particularly evocative element will be the former bank vault, destined to be transformed into a multifunctional space for events and a contemporary art gallery.

The architectural intervention, overseen by project manager Niccolò Falleri and works director Stefano Boninsegna from Studio Gla, is inspired by a contemporary style that enhances the large common spaces and strengthens the connection between the hotel structure and the city.

Economic and employment impact

The project will also bring significant benefits in terms of employment: “We will hire 140 people in Florence, and currently 170 workers are working for us directly, 80% of whom are from the local area,” emphasizes Puccini. This highlights how the redevelopment represents not just an architectural recovery but also an important economic investment for the entire community.

The rebirth of Piazza dell’Unità

Parallel to the redevelopment of the former Majestic, the municipal administration has planned a significant restyling intervention for Piazza dell’Unità, an access point to the city for millions of visitors. “We have allocated one million seven hundred thousand euros, which is in addition to the private investment for the redevelopment of the area in front of the hotel. The project includes the renovation of the roadway, the planting of new trees, and the installation of seating. We will share and present it to the citizens soon,” states Andrea Giorgio, Councilor for Security and Mobility.

The goal is to transform what is essentially a transit space today into a true pedestrian “living room square,” with new trees and rest areas that invite residents and tourists to fully experience this renewed corner of Florence.

“This change marks the rebirth of a place that has for too long been a symbol of abandonment,” concludes Aldo Cursano, president of Confcommercio Florence and owner of Caffè Le Rose located right in Piazza dell’Unità. “We thank the Municipality of Florence for its commitment to carrying forward the square’s redevelopment project and entrepreneurs like Roberto who are investing their heart and soul in this transformation.”

Source: La Nazione

From Medieval Castles to Fashion Palazzos: Luxury Gastronomy Reshapes Italian Real Estate

By Columbus International,21 February 202521 February 2025

Columbus International, with its signature expertise in luxury real estate across New York, Miami, Milan and Tuscany, continues to witness how exceptional dining experiences are transforming historic properties into world-class destinations. Two recent developments highlight this trend that savvy real estate investors should note.

Castello di Fighine: A Medieval Marvel Reborn Through Gastronomy

In the heart of Tuscany’s Val d’Orcia, an extraordinary transformation has occurred. What began in 1266 as a fortress granted by Frederick II of Swabia to Tancredi Campiglia has evolved into one of Italy’s most exclusive gastronomic destinations.

The once-abandoned medieval hamlet of Fighine has been meticulously restored to offer 34 luxury accommodations spread across five elegantly designed villas, two apartments, and various historic structures including a consecrated 18th-century church. The conservative yet luxurious interior design by international designers David Mlinaric and Hugh Henry creates an atmosphere of authentic country elegance with functional luxury.

At the heart of this renaissance is the Michelin-starred restaurant Castello di Fighine. Under the guidance of three-starred chef Heinz Beck (of Rome’s La Pergola) and led by talented head chef Francesco Nunziata, the restaurant offers sophisticated tasting menus (€130 for 5 courses, €150 for 7 courses) featuring locally sourced ingredients, many from the property’s organic garden.

Dining here means experiencing culinary mastery within two-meter thick stone walls, where dishes like the “Cappelletti alla Genovese with balsamic vinegar and Parmigiano fondue” blend regional Italian influences with technical precision. The restaurant’s intimate setting, with well-spaced tables and views of the surrounding greenery, creates an atmosphere of protected exclusivity.

Louis Vuitton Brings Luxury Dining to Milan’s Fashion District

Meanwhile, in Milan’s prestigious Quadrilatero della Moda, luxury fashion house Louis Vuitton is extending its brand into the culinary world with the opening of “DaV by Da Vittorio Louis Vuitton” this April. Located in Palazzo Taverna on Via Montenapoleone, the restaurant will be accessible from both the maison’s showroom and Via Bagutta.

This collaboration with the three-Michelin-starred Da Vittorio restaurant group marks Louis Vuitton’s first gastronomic venture in Italy, following successful dining establishments in France, Japan, China, and the United States. The Cerea family, owners of Da Vittorio, promise a blend of Italian culinary tradition with international creativity in a contemporary setting.

The restaurant will feature Louis Vuitton’s Art de la Table collections and design elements that blend the brand’s aesthetic with Italian cultural influences. While described as “casual dining,” this venture represents the growing intersection of high fashion and fine dining in premium real estate locations.

Columbus International: Pioneering Luxury at the Intersection of Real Estate and Lifestyle

For Columbus International’s discerning clients, these developments represent more than culinary news—they signal lucrative investment opportunities. Properties adjacent to such prestigious culinary destinations often see significant appreciation in value.

In Tuscany, Columbus International has long specialized in identifying and representing historic properties with restoration potential similar to Castello di Fighine. Our expertise in navigating Italian restoration regulations and sourcing authentic materials has helped numerous clients transform ancient structures into luxury accommodations.

In Milan, our team’s intimate knowledge of the fashion district allows us to identify properties with potential for luxury brand partnerships or high-end commercial conversions. The Louis Vuitton restaurant exemplifies how historic palazzos can be reimagined for contemporary luxury experiences while maintaining their architectural integrity.

Whether you’re seeking a Tuscan estate with culinary potential or a Milan property in proximity to luxury retail and dining experiences, Columbus International’s boutique approach ensures personalized guidance through every aspect of acquisition, restoration, and potential commercial partnerships.

As these two distinctive developments demonstrate, the intersection of historic properties and exceptional dining creates a uniquely compelling value proposition in luxury real estate—an area where Columbus International continues to lead with unparalleled expertise and vision.

Milan’s $23M Modern Art Museum Finally Opens After 50-Year Wait: Inside The City’s Bid To Rival Florence’s Uffizi

By Columbus International,5 December 2024

In a dramatic culmination to a half-century saga of delays and false starts, Milan is finally unveiling its ambitious answer to Florence’s Uffizi Gallery: the Palazzo Citterio, a stunning 18th-century mansion transformed into a world-class modern art museum. The December 7th opening marks a pivotal moment in Milan’s quest to establish itself among Italy’s cultural heavyweights.

The Grande Brera Vision: From Cultural Backwater to Revenue Powerhouse

The numbers tell a sobering story. While Florence’s Uffizi Gallery generated a staggering €63 million ($68.5 million) in 2023 and Rome’s Colosseum approached €100 million ($108.7 million), Milan’s prestigious Pinacoteca di Brera museum complex managed just €5 million ($5.4 million). But Angelo Crespi, Brera’s ambitious director, sees the Palazzo Citterio as the key to changing that equation.

“We’re creating a cultural ecosystem that can finally compete with Florence and Rome,” Crespi told Forbes. “This isn’t just about art – it’s about transforming Milan’s cultural economy.”

Inside the Collection: A Modern Art Powerhouse

The Palazzo Citterio’s inaugural collection reads like a who’s who of modern masters:

Pablo Picasso’s revolutionary “Head of a Bull” (1942)
A rare 1919 still-life by Giorgio Morandi
Umberto Boccioni’s dynamic “Rissa in Galleria” (1910)
Works by Amedeo Modigliani and Georges Braque

The museum’s foundation rests on two transformative donations from the Jesi and Vitali families (1976 and 1984), with recent acquisitions including additional Morandi paintings and pieces by Mario Schifano and Arturo Martini.

The $23 Million Journey: Overcoming Five Decades of Setbacks

The path to opening hasn’t been smooth. After the Italian government purchased the building in 1972, the project faced:

An abandoned 1980s renovation by British architect James Stirling
A €23 million revamp in 2018 that failed due to humidity issues
Decades of bureaucratic delays and funding challenges

The Economic Gambit: Can Milan Compete?

The stakes are high. Currently drawing 500,000 annual visitors to the Pinacoteca, Brera projects an additional 50,000 visitors to the Palazzo Citterio in its first year. The recent addition of Leonardo da Vinci’s “The Last Supper” to the Brera portfolio could push total revenue to €10 million and visitor numbers to 1.5 million.

A New Era for Italian Museums

The Palazzo Citterio’s opening reflects a broader transformation in Italian museum management. Thanks to 2014 reforms introduced by former culture minister Dario Franceschini, institutions now enjoy greater autonomy in revenue generation and operations.

“We’re seeing a renaissance in Italian museum management,” Crespi explained. “The old narrative about Italian museums being unable to generate significant revenue is finally changing. We’re not just preserving art – we’re building sustainable cultural institutions.”

With its strategic location just 200 meters from the Pinacoteca di Brera and the historic Braidense library, the Palazzo Citterio isn’t just a new museum – it’s Milan’s bid to reshape Italy’s cultural landscape and capture a larger share of the country’s growing cultural tourism market.

Photo (Newsroom and Social Media) via Palazzo Citterio/Brera Design District

info@breradesigndistrict.it T.
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From Ruins to Riches: How an American Lawyer Saved a Medieval Tuscan Village

By Columbus International,2 December 20242 December 2024

The rebirth of a medieval village: this is the story of Castiglioncello del Trinoro, a small village of just fourteen inhabitants in the municipality of Sarteano. The turning point came in 2003, when Michael Cioffi, a lawyer from Cincinnati, fell in love with this 900-year-old ancient settlement, deciding to save it from abandonment.

Before Cioffi’s intervention, the village was in a state of decay, with crumbling buildings and vegetation invading the streets. But the American lawyer glimpsed the hidden potential among those ancient walls, attracted by the millennial history of the place and determined to bring it back to life. The restoration project, which began in 2005, led to the creation of Monteverdi Tuscany in 2012, an exclusive scattered hotel named after the famous composer.

The transformation wasn’t limited to accommodation facilities: the village’s small church was converted into an auditorium, while the kitchen was entrusted to chef Riccardo Bacciottini from Poggibonsi, who delights guests with traditional local dishes.

This intervention saved Castiglioncello del Trinoro from a fate of abandonment and ruin. However, the “touristification” of historic villages remains a controversial topic, as demonstrated by the controversies that arose in similar cases: in Chiusure, in the municipality of Asciano, historic residents opposed similar operations, while in Monticchiello, in the territory of Pienza, a group of intellectuals led by Alberto Asor Rosa opposed the construction of new houses near the historic walls.

In Castiglioncello del Trinoro, however, the transformation occurred without conflicts, giving new life to the village. A success that also made Andrea Franchetti happy, a pioneering entrepreneur who started a winery in an area considered by many to be unpromising for viticulture.

Sources: Corriere di Siena e Cibotoday.it

Tuscany’s Luxury Hotel Market Sees 24% Growth, New WCG Analysis Reveals

By Columbus International,26 November 2024

World Capital Group (WCG) is set to unveil groundbreaking research on Tuscany’s hospitality sector at the upcoming BTO 2024 – Be Travel Onlife event in Florence. The analysis reveals a remarkable transformation in the region’s hotel industry, particularly in the luxury segment, despite overall market contractions.

According to WCG’s Research Department’s findings, Tuscany commands a significant 8.23% of Italy’s hotel real estate portfolio, representing 7.65% of the country’s total room capacity. The region’s luxury segment maintains a robust presence, with upscale properties (4 and 5-star hotels) accounting for over 25% of establishments, slightly above the national average of 24%.

Florence Leads Luxury Market Transformation

The capital city emerges as the powerhouse of Tuscany’s luxury hospitality sector, controlling 39% of upscale properties and an impressive 66% of premium rooms. These figures align with metrics observed in Italy’s other major metropolitan markets, as documented by WCG’s research team.

The past five years have witnessed contrasting trends across market segments. While Italy’s overall hotel inventory decreased by 3% (with room numbers remaining stable), Tuscany experienced more pronounced declines: a 6.44% reduction in properties and a 15.39% drop in room inventory.

However, the luxury segment tells a different story. Tuscany’s upscale sector recorded remarkable 24% growth in both properties and rooms. Florence particularly exemplified this trend with a 25% increase across both metrics in the luxury segment, while mid-scale and economy segments contracted due to widespread property upgrades.

Florence’s Hotel Real Estate: A €4.2 Billion Market

WCG’s Research Department values Florence’s hotel real estate portfolio at over €4.2 billion, with the luxury segment accounting for €3.6 billion (85%) of the total. The ownership landscape reveals interesting patterns:

Hotel operators control 46% of properties
Local investors own 40%
Financed assets represent 6%
Public entities hold 5%
Institutional investors maintain 3% of properties but control 7% of total rooms

“Tuscany’s hospitality real estate market represents a unique fusion of tradition and innovation,” says Gabriele Fiumara, WCG’s Real Estate Consultant for Hospitality. “The region’s extraordinary cultural and natural heritage continues to attract both domestic and international investors, driven by growing demand for high-end accommodations.”

Fiumara will present these findings at BTO 2024, scheduled for November 27-28 at Florence’s Stazione Leopolda. He will join industry leaders including Barbara Casillo, General Manager of the Italian Hotel Industry Association (Confindustria Alberghi), and Francesco Bechi, President of Federalberghi Florence, in a panel discussion focused on tourism development and investment attraction in Tuscany.

Italian Luxury Real Estate: Florence Emerges As Top Investment Hub For High-Net-Worth Buyers

By Columbus International,8 November 2024

In a remarkable shift in Italy’s luxury real estate landscape, Florence is cementing its position as the country’s third most attractive market for high-net-worth individuals (HNWIs), trailing only behind the economic powerhouses of Milan and Rome. This insight comes from a comprehensive new study by LuxuryEstate.com, a premier property portal partnered with Immobiliare.it, released just days before the G7 Tourism Summit.

Market Leadership: Milan Maintains Dominance

The data reveals a clear hierarchy in Italy’s luxury property market:

Milan leads with 17.3% of total luxury property demand
Rome follows at 13.3%
Florence captures 5.2% of the market
Forte dei Marmi, a surprising contender, claims 4th place with 3%

“Italy offers diverse opportunities for luxury real estate investors,” explains Paolo Giabardo, CEO of LuxuryEstate.com. “While economic and political centers like Milan and Rome remain strong, we’re seeing increased interest in locations renowned for their historical significance and natural beauty, with excellent accessibility.”

Regional Powerhouses: Tuscany’s Rising Influence

The regional analysis reveals an interesting dynamic:

Lombardy maintains its top position, driven by Milan’s strong performance
Tuscany claims second place with 16% of luxury property searches
Lazio follows at 10%, despite Rome’s individual market strength
Sardinia (9%), Liguria (7%), and Veneto and Piedmont (tied at 6%) round out the top spots

Buyer Origins: A Domestic Focus

The study also tracked where these affluent buyers are coming from, revealing:

Milan (20% of total searches)
Rome (13.8%)
Naples (7.5%)
Turin (4.7%)
Florence (3.9%)

Emerging markets include unexpected contenders like Jesi (1.8%), Ascoli (1.4%), and Padua (1.36%), suggesting a broadening of Italy’s luxury real estate landscape.

Investment Implications

This shifting landscape presents several key implications for investors:

Florence’s rise indicates growing confidence in secondary luxury markets
The strong showing of smaller cities suggests diversification opportunities
Tuscany’s overall performance demonstrates the enduring appeal of lifestyle-driven property investments

Looking Ahead

As Italy’s luxury real estate market continues to evolve, Florence’s position as a top-tier investment destination appears secure. The city’s blend of cultural heritage, quality of life, and strong property fundamentals makes it an increasingly attractive alternative to traditional prime markets like Milan and Rome.

The emergence of unexpected contenders in the top 10 suggests Italy’s luxury real estate market is becoming more sophisticated and diverse, offering new opportunities for discerning investors seeking both returns and lifestyle benefits.

Florence’s Premier Art Event Draws Global Elite With Titian, Michelangelo Masterpieces

By Columbus International,1 October 2024

The 33rd Florence International Biennial of Antiques (BIAF) is set to transform the historic Palazzo Corsini into a luxurious marketplace of museum-quality art from September 28 to October 6, 2024. This year’s edition marks a significant expansion with 80 galleries participating, including 14 new prestigious international exhibitors, cementing its position as one of the world’s premier art events.

Star-Studded Affair Merges Art, Fashion, and Philanthropy

The Biennale kicks off with an exclusive gala dinner for 780 global VIPs, orchestrated by Gucci Osteria da Massimo Bottura. Gucci’s sponsorship underscores the event’s fusion of high art and haute couture. A highlight of the opening festivities is a charity auction featuring world-renowned tenor Andrea Bocelli in the magnificent Salone dei Cinquecento at Palazzo Vecchio.

“This edition promises to be one of the finest under my management,” says Fabrizio Moretti, Secretary General of BIAF. “We have the world’s best dealers bringing their masterpieces to Palazzo Corsini, effectively creating a museum for sale.”

Blue-Chip Galleries Showcase Rare Treasures

The exhibitor list reads like a who’s who of the art world:

Colnaghi: Founded in the 18th century
Agnews: A London stalwart since 1817
Enrico Frascione: A family dynasty in antique paintings since the late 1800s
Dickinson: Known for discovering works by Botticelli, Titian, and Rubens

Investment-Grade Masterpieces on Display

Notable works include:

A Titian Madonna and Child with St. Mary Magdalene (c. 1555-1560) at Carlo Orsi’s stand, authenticated by renowned expert Federico Zeri
Michelangelo’s Study of Jupiter from Dickinson Gallery
A Bronzino Madonna and Child presented by Maurizio Canesso
A recently discovered Portrait of Grand Duchess Vittoria Della Rovere by Camilla Guerrieri (1628-1690)

Modern Masters Join Old World Treasures

The Biennale isn’t limited to antiquities. Twentieth-century highlights include:

Le Corbusier works from Tornabuoni Arte
A 1950 “Nocturne” by Alberto Savinio from Sperone Westwater
Giorgio de Chirico’s 1933 “The Daughters of Minos” from Farsetti

Market Impact and Investment Potential

With most participating galleries boasting 30-50 years of market expertise, the Biennale represents a unique opportunity for serious collectors and investors. These galleries have shaped international collecting trends and have placed works in the world’s leading museums.

Each piece exhibited undergoes rigorous authentication, restoration, and research, ensuring maximum value and investment potential. As Mayor Sara Funaro notes, the Biennale remains “a fundamental reference point for international collecting.”

Photo via BIAF

Florence: Italy’s Second Fastest City for Real Estate Sales

By Columbus International,25 September 2024

In an increasingly dynamic Italian real estate market, Florence emerges as a shining star, positioning itself as the second-fastest city among major urban centers for property sales. According to an analysis conducted by Immobiliare.it Insights, the Tuscan capital stands out for its rapid real estate transactions, surpassed only by Milan.

An Accelerating Market

In the first half of 2024, Florence recorded an average selling time of 3.3 months, on par with Bologna and just behind Milan, which maintains the lead at 2.7 months. This figure represents a slight increase of 0.6% compared to the same period in 2023, indicating stability in the Florentine market.

Major Cities Compared

Florence’s performance is particularly impressive when compared to other Italian metropolises:

Rome: 3.4 months (+1.8% compared to 2023)
Naples: 3.5 months
Verona: 3.7 months

Cities like Turin, Catania, Palermo, Genoa, and Venice record times exceeding 4 months, while Bari closes the ranking at 5.5 months, marking an increase of 13.1% compared to 2023.

Comparison with the Pre-Covid Era

The most striking data emerges from the comparison with 2019. All analyzed cities show a reduction in selling times of over 20% compared to the pre-pandemic period. Verona leads this trend with an impressive -43.9%, followed by Milan at -43.3%.

Conclusions

These figures highlight not only the resilience of the Italian real estate market post-pandemic but also the growing attractiveness of cities like Florence. The speed of transactions suggests a lively and competitive market, indicative of robust demand and well-positioned supply.

Florence’s Skyline Set to Change: Asian Investors Lead San Gallo Luxury Overhaul

By Columbus International,16 July 20249 November 2024

Florence’s real estate landscape is about to be enriched with a new luxury gem, featuring an entrepreneurial twist that brings the flavor of the Orient to the heart of Tuscany. As revealed in a recent article by Matteo Lignelli and Ernesto Ferrara in Repubblica Firenze, the redevelopment project of the former San Gallo military hospital has seen a significant change in ownership, with a Singaporean group now holding the majority stake.

The project, which began last March and has now entered its crucial phase, envisions the creation of an ultra-luxury district that, according to sources, will have “nothing ordinary about it.” The complex will host high-end hotels, prestigious residences, and exclusive restaurants, radically transforming the area of the former military hospital.

The most significant development concerns the ownership and management of the real estate operation. The Gb Invest Holding group, led by Tuscan entrepreneur Stefano Nesti, known in the online betting sector and now at the helm of an empire in the hotel and restaurant industry, has reduced its participation to 20% of the shares in San Gallo Development (Dvp), the company managing the investment.

The majority control has passed into the hands of a Singaporean group, “Liaigre Hospitality Ventures Limited,” which has increased its stake from an initial 10% to the current 80%. This change in ownership marks an important shift in the project’s direction, bringing an international perspective and potentially new resources to the table.

The massive influx of Asian capital into such a large-scale project in Florence’s historic center raises questions about the future dynamics of the luxury real estate market in the city. It could signal growing interest from Oriental investors in Italy’s prestigious real estate, potentially paving the way for further investments in the sector.

As work progresses, it remains to be seen how this new management will influence the final project and what impact it will have on Florence’s urban and social fabric. What is certain is that the former San Gallo hospital is set to become a new landmark in Florence’s luxury landscape, with a distinctly international touch.

Italy, Real Estate Market Evolution: A New Era of Opportunities for Buyers

By Columbus International,11 July 2024

The real estate sector is undergoing a significant transformation, ushering in a new era of opportunities for prospective homeowners and investors alike. Recent data from the Italian Revenue Agency reveals a market rebalancing that is fostering greater price flexibility and buyer-friendly conditions.

Fabiana Megliola, head of the Tecnocasa Group Research Office, reports an increase in the average discount to 8.3%, marking a shift from the recent period of intense market activity to a more reflective phase. This transition is creating a fertile ground for buyers to negotiate more favorable terms and secure better value for their investments.

A closer look at different property categories unveils intriguing market dynamics:

Used Properties: With an average discount of 8.5%, these offer the most room for negotiation. This presents an excellent opportunity for buyers to acquire properties at competitive prices and invest in custom renovations, potentially increasing long-term value.
Renovated Homes: Offering a 7.5% discount, these properties strike a balance between move-in readiness and value for money.
New Constructions: At a 4.5% discount, these remain attractive for those seeking modern, ready-to-use living spaces with minimal immediate maintenance needs.

Investors stand to benefit significantly in the current market, with discounts of up to 12% on investment properties. This trend could stimulate the rental market and provide more housing options in urban areas.

The market is also becoming more attuned to diverse buyer preferences. Ground floor apartments now come with more substantial discounts (8.5%), catering to those prioritizing accessibility or outdoor space. Top floor units, with a 7.7% discount, continue to appeal to buyers seeking views or added privacy.

While sales have slowed in the first quarter of 2024, this should be viewed as a market normalization rather than a downturn. This cooling period allows buyers more time to conduct due diligence, evaluate multiple options, and negotiate optimal terms.

In conclusion, the Italian real estate market is evolving towards a more balanced and sustainable model. The current landscape offers a unique confluence of factors – price flexibility, diverse property options, and a buyer-friendly environment – making it an opportune time for both personal home purchases and strategic property investments. As the market continues to adapt, it promises to better align with the changing needs and preferences of a new generation of property owners and investors.

Source: Il Sole 24 Ore