The supply of luxury real estate in Italy continues to increase: at the end of 2023, in fact, the stock of luxury homes available came to represent 2.7% of all Italian supply, an increase of 0.5 percentage points when compared with 2022. A growing supply that easily meets a still sustained demand (+2% compared to 2019) and is increasingly demanding and selective. These are some of the pieces of evidence that emerged from the new Observatory of the luxury residential market in Italy made by Immobiliare.it Insights, a company of the Immobiliare.it group specialized in big data and market intelligence for the real estate sector. Nearly 90% of the overall luxury market is concentrated in northern and central Italy. In detailing the geographical distribution, just under 36% is in the Northwest, with the Center following close behind (32.5%). The third area with the most stock is the Northeast, gathering about 20% of the total, up 2% from 2022. At the tail end are the South, with about 7%, and the Islands, with about 5%. Looking at data from specific areas of our country, Milan is confirmed as the city with the highest value of the luxury stock, 7.35 billion euros, almost entirely composed of apartments (about 99%), a figure that has remained almost unchanged over time. In contrast, average demand fell in the last six months of 2023, ending the year with -10% compared to 2019 levels. Rome ranks second in terms of stock value, with 4.50 billion euros, but there was a sharp contraction compared to the first half of 2019 (-29%). Versilia remains the first tourist area in the ranking, placing behind the two big cities, with 4 billion euros, more than three-quarters of which is composed of villas (77%), an aspect that is an exception in the Italian panorama, where apartments tend to prevail.
|