Italy’s ultra-luxury residential market remains remarkably exclusive: properties listed above €2 million represent just 0.9% of the nation’s total housing inventory. Within this rarefied segment, Tuscany has emerged as the undisputed leader, accounting for 41.5% of all luxury properties currently on the market, according to new research from eXp Italia.
The findings, drawn from Idealista.it data through October 2025, reveal stark regional disparities in Italy’s premium property distribution. Tuscany’s commanding position underscores its enduring appeal to affluent buyers seeking the quintessential Italian experience—rolling hillsides, historic estates, and proximity to Florence’s cultural treasures.

The Geographic Hierarchy of Italian Luxury

Behind Tuscany, Italy’s luxury market concentrates heavily in established wealth centers:
Lombardy captures 19.3% of the ultra-premium segment, driven largely by Milan’s metropolitan appeal and Lake Como’s celebrity-studded shores. The Lazio region, anchored by Rome’s historic properties, holds 6.8%. Veneto and Liguria round out the top five at 6.0% and 5.5% respectively, benefiting from Venice’s unique positioning and the Ligurian coastline’s Mediterranean allure.
“These aren’t just statistics—they represent centuries of cultural capital translating into modern real estate value,” notes Denis Andrian, who leads eXp Italia’s operations. “Tuscany continues setting the standard for what international buyers envision when they think of Italian luxury living.”

Italy’s Exclusivity in European Context

Compared to other Mediterranean markets, Italy’s luxury inventory appears notably constrained. Portugal leads European nations with 4.7% of properties priced above €2 million, followed by Spain at 3.8%. Greece registers 2.3%, while Germany and France show 1.6% and 1.4% respectively.
Italy’s comparatively modest 0.9% figure, however, shouldn’t be misread as weakness. Instead, it reflects genuine scarcity in a market where historic preservation laws, complex ownership structures, and limited new construction combine to restrict supply. For discerning buyers, this scarcity enhances rather than diminishes appeal.

Shifting Buyer Profiles and Emerging Markets

The composition of luxury buyers has evolved considerably in recent years. According to Andrian, inquiries from U.K. and U.S. nationals have increased notably, driven by fiscal uncertainty and political volatility in their home markets. Brexit’s lingering effects continue pushing British wealth toward Continental alternatives, while American buyers increasingly view European property as portfolio diversification.
“We’re witnessing a meaningful shift southward,” Andrian observes. “While Tuscany, Milan, and the northern lakes remain aspirational anchors, coastal areas in southern Italy are attracting serious attention. Buyers are finding more space and better value propositions without sacrificing the Italian lifestyle they’re seeking.”
This geographic expansion reflects broader luxury market maturation. As prime Tuscan and Milanese properties command ever-higher premiums, attention naturally flows toward underdeveloped coastal regions offering authenticity, climate advantages, and relative affordability—though “affordable” remains contextual in a segment where entry points start at seven figures.

Infrastructure and International Access

eXp’s global network model—connecting local market expertise with international buyer pipelines—has proven particularly effective in this cross-border segment. Italian agents increasingly collaborate with colleagues across eXp’s worldwide presence, facilitating transactions that might once have required multiple intermediaries.
The infrastructure supporting luxury transactions has quietly modernized. Digital documentation, remote notarization options, and sophisticated advisory services around Italian tax regimes have reduced friction for international buyers, even as the properties themselves retain old-world character.

Long-Term Investment Perspective

Unlike speculative markets driven by short-term capital appreciation, Italy’s luxury segment attracts buyers with extended time horizons. Cultural cache, lifestyle quality, and generational wealth preservation motivate purchases more than quarterly returns.
This patience-oriented buyer profile has helped insulate the segment from broader market volatility, though it also means transaction velocity remains measured. Properties at this level often take years to find appropriate buyers—a timeline that suits sellers who prioritize achieving full value over quick exits.
As European real estate markets navigate evolving regulatory landscapes and economic uncertainty, Italy’s luxury segment appears positioned to maintain its appeal. Tuscany’s dominance seems secure, built on advantages neither manufactured nor easily replicated elsewhere.

Source: Corriere dell’Economia