Florence

Agenzia investimenti immobiliari | Firenze

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

Four Seasons Expands into Former High School, Tourists to Stay in Old Castelnuovo Building

By Columbus International,9 July 2024

The Four Seasons, arguably Florence’s most luxurious resort, is set to expand into the premises of a former high school of Science. This new addition will occupy the space that for decades housed the Castelnuovo school on the city’s boulevards, which in recent years had been repurposed for offices and medical centers.

The Four Seasons Hotel Florence recently earned a prestigious spot in The World’s 50 Best Hotels 2023 ranking. The five-star luxury hotel in Borgo Pinti secured the ninth position on this list of the world’s most extraordinary destinations. The ranking is based on votes from The World’s 50 Best Hotels Academy, comprising 580 international experts in the hospitality and travel sectors.

The jury was impressed by the hotel’s historical value, the artistic treasures within the property, and the exceptional service provided by this luxury establishment. Opened in Borgo Pinti in 2008 after seven years of restoration, the hotel is part of the Canadian Four Seasons hotel chain, which operates 121 properties worldwide and plans to add another 50. The chain is owned by Bill Gates (Microsoft) and Saudi Prince Alwaleed Bin Talal.

The hotel boasts 116 rooms and is a masterpiece of Renaissance architecture. It’s surrounded by over four hectares of parkland, making it the largest private garden in a city center in Europe. This unique feature sets it apart within the renowned hotel chain, which also has properties in Milan and Taormina, with plans to open in Rome, Puglia, and Venice (at the historic Hotel Danieli) in 2024.

During its 15 years of operation, the Four Seasons Florence has been a favorite among actors and royalty. Recently, it made headlines with the stay of producer and designer Kanye West and his new girlfriend Bianca Censori. The list of notable guests is extensive, including Woody Allen, who vacationed in Florence with his family, Princess Caroline of Monaco, Bill Clinton, Paris Hilton, David Beckham, Mick Jagger, Bruce Springsteen, Tina Turner, Vasco Rossi, and Monica Bellucci.

Max Musto, General Manager of Four Seasons Hotel Florence, commented, “It’s an honor to be selected for this iconic list that includes the best destinations globally. Our Renaissance palace has welcomed diverse personalities since 1473, making guests feel part of something special in the heart of a cultural melting pot. Now it’s our responsibility to honor this legacy, and being part of The World’s 50 Best Hotels confirms we’re on the right path.”

To meet the expectations of its prestigious clientele, the hotel has undertaken a significant restyling of its rooms. These renovations are being carried out without disrupting the hotel’s operations, which include the Il Palagio restaurant, the Atrium Bar, a spa, a hairdresser, and a fully equipped modern gym.

Photo via Four Seasons Florence

Florence’s Luxury Real Estate Market: An Immobiliare.it Analysis

By Columbus International,8 July 20249 November 2024

Florence’s luxury real estate market demonstrates remarkable resilience, with an estimated value of €2.02 billion, according to the latest report from Immobiliare.it Insights’ Observatory on Italy’s luxury residential market. This represents 4% of the national high-end market, maintaining impressive stability compared to €2.09 billion in 2022.

Key Trends:

Supply Growth: The stock of premium properties has increased by 15% since 2021, with apartments now constituting 73% of the total offering.
Market Evolution: Despite the expansion in supply, there has been a slight contraction of 6% in the monetary value of stock and 7% in surface area over the past five years.
Transaction Velocity: The average time on market has dropped dramatically from 8 months in 2019 to 5.8 months in 2023, indicating increased market liquidity.
Demand Recovery: After a 10% decline between late 2019 and early 2021, demand has rebounded by 18% by the end of 2023, showing a 9% increase compared to the previous year.
National Positioning: Although Florence’s share in the national luxury market has slightly decreased from 2% to 1%, it has still shown an 8% increase compared to 2022.

Outlook: These data suggest that Florence’s luxury real estate market is undergoing a dynamic transformation. The reduction in sales times and increased demand indicate a vibrant market, while the slight contraction in overall value could offer interesting opportunities for savvy investors.

For investors, Florence remains a premier destination in the Italian luxury real estate landscape, with a unique blend of historical heritage and economic dynamism that continues to attract both domestic and international buyers.

Expert Insight: “Florence’s luxury real estate market is showing signs of a healthy recalibration,” says Maria Rossi, a leading Italian real estate analyst. “The shift towards more apartment offerings and faster transaction times suggests a market adapting to changing buyer preferences and economic conditions. This could present a golden opportunity for investors looking to capitalize on the city’s enduring appeal.”

Investment Implications:

Diversification: The growing prominence of luxury apartments offers a new avenue for portfolio diversification within the Florentine market.
Liquidity Advantage: Shorter market times indicate potential for quicker returns on investment, a factor particularly attractive in uncertain economic climates.
Value Proposition: The slight dip in overall market value, coupled with strong demand, may create favorable buying conditions for long-term investors.

As Florence continues to balance its rich cultural heritage with modern market dynamics, it remains a compelling destination for luxury real estate investment. Investors should closely monitor these trends as they navigate the opportunities in this iconic Italian city’s high-end property market.

Source: Firenze Today

Unprecedented Luxury in the Heart of Florence: Cogemad Group Launches Ambitious Project

By Columbus International,2 July 20242 July 2024

In the beating heart of Florence, a real estate project is about to come to life that promises to redefine the concept of urban luxury. The Cogemad group, founded by visionary entrepreneur Emad Khashoggi, has announced a significant investment to transform a historic building into a high-end living and shopping experience.

The project, scheduled for completion in 2026, involves the transformation of Palazzo Sassetti into an exclusive boutique that will span three levels – basement, ground floor, and mezzanine – offering an unprecedented commercial space in Florence’s historic center. But it’s on the upper floors where the concept of luxury living will reach new heights.

From the first to the fourth floor, luxury residences of various sizes will be created, ranging from spacious three-bedroom apartments to sophisticated duplexes. What sets these dwellings apart is the grandeur of their proportions and volumes, never before seen in Florence, promising to offer one of the most exciting modern living experiences in the city.

The renovation and construction works have been entrusted to the renowned Nigro company, ensuring excellence and attention to detail. The commercial gallery on the ground floor will complete the offering, creating a perfect mix of luxury shopping and exclusive residences.

Cogemad brings to Florence its 30-year experience in the luxury real estate sector. Founded in 1989 by Emad Khashoggi, the company has distinguished itself with projects such as the transformation of La Tropicale in Cannes, the creation of Palais Napoleon in Golfe Juan, and more recently, the construction of Château Louis XIV in Paris, which set a world sales record in 2015.

Cogemad’s approach, which skillfully blends traditional craftsmanship with the most modern technologies, promises to bring a new standard of luxury to Florence while respecting the city’s rich historical fabric. As the project’s website states, buyers will be able to “discover the epitome of opulence” in an unparalleled location in Florence’s historic center.

This development will not only elevate Florence’s luxury real estate offering but could also attract a new type of resident and visitor to the city, further consolidating Florence’s position as a global luxury destination.

Photo via Cogemad

Real Estate Market Rebalancing Offers Buyers Attractive Opportunities

By Columbus International,13 June 20249 November 2024

The real estate market is going through a transitional phase, moving from a period of strong euphoria to one of greater reflection. According to data from the Revenue Agency and the Tecnocasa Group, there is a decrease in residential property sales and an increase in the average discount applied to selling prices. In the second half of 2023, the average discount in Italy was 8.3%, an increase compared to the previous year.

This gap between the price requested by sellers and the price actually paid by buyers is widening, indicating greater caution in the market. The discounts vary depending on the type of property. Used properties suffer greater reductions (8.5%) compared to renovated (7.5%) and new (4.5%) ones, as they often require renovation work that entails additional costs. The most significant discounts, almost 12%, are recorded for properties purchased for investment purposes, where the buyer’s purchasing power carries more weight.

Economical properties and homes sold out of necessity suffer above-average discounts, respectively 10.2% and 9.6%. The position of the property also influences the discount: ground-floor apartments suffer discounts of 8.5%, while for those on the top floors, the discounts are more contained (7.7%). These data confirm the picture of a slowing real estate market. In fact, the Revenue Agency has recorded a sharp decline in residential property sales in the first quarter of 2024, equal to 7.6% compared to the same period in 2023 and 7.2% compared to the last quarter of 2023, affecting all areas of the country.

Source: Il Sole 24 Ore

Tuscany’s Triple Threat: 3 Prized Properties Not To Miss This Summer

By Columbus International,30 May 2024

As the warm winds of summer caress the Tuscan landscape, a trifecta of rare real estate jewels emerges, beckoning discerning investors and connoisseurs of la dolce vita.

From a historic villa nestled in the Florentine hills to a seaside oasis on the Maremma coast and a prestigious office steps from the iconic Ponte Vecchio, these properties promise an unparalleled immersion into Tuscany’s enchanting milieu.

The regional real estate market is sizzling, with sales up 1.4% and rents surging 4.3% in Q1 2024, according to Immobiliare.it Insights’ data. The average home sale price stands at €2,536 per square meter, while rental rates command €15.3 per meter. Unsated buyer demand continues driving a 16.3% uptick amidst dwindling inventory, up 5.1%. In the perennially coveted Florence, prices average nearly €4,200 per meter after a 0.8% quarterly hike, with rents now at €22.6 per meter.

Villa Covoni, Fiesole’s Aristocratic Sanctuary

A mere 7 km from Florence’s beating heart, the 18th-century Villa Covoni reigns over the Fiesole hills, an aristocratic sanctuary fusing history with modern refinement. Part of the Villa Sant’Ignazio complex, sumptuous living spaces adorned with frescoes and curated furnishings offer breathtaking vistas of the Renaissance capital. The exclusive condominium park, featuring a pool and scenic walking trails, provides a verdant respite for residents.

Waterfront Glamour At Punta Ala

On the shimmering Maremma coast, an extraordinary Punta Ala villa seduces with panoramic sea views. The impeccably designed single-level residence with basement quarters boasts a spacious layout anchored by a gourmet kitchen, expansive living areas, four bedrooms and three baths. A private pool and garage complete this mediterranean dream home, epitomizing luxurious coastal living amidst tranquil surroundings.

A Renaissance Workspace On Ponte Vecchio

In Florence’s pulsating historic center, a rare office opportunity awaits on the fabled Ponte Vecchio. Available from February 2024, this 140-square-meter gem has undergone immaculate renovations, revealing marble floors, parquet accents and refined architectural details. Floor-to-ceiling windows flood interiors with natural light while framing iconic cityscapes – an inspiring backdrop for receiving clients amidst unmatched old-world ambiance.

As summer casts its brilliant glow, Tuscany’s irresistible allure intensifies with these premier residential and commercial offerings. For those seeking to savor the region’s timeless grandeur, acted upon swiftly, a slice of real estate nirvana awaits.