Italians are slightly more likely than the average European to own multiple properties, with a quarter of Italian homeowners (72 percent of the population) owning a second home.
That's partly because property is considered a sound investment in Italy, but it's also because many families enjoy having a beachside or mountain holiday home not far from their main residence that they can escape to on weekends.
READ ALSO: EXPLAINED: Why do so many Italians own second homes?
But while the majority of Italy's second homes are owned by Italians, a significant minority are bought up by foreign buyers.
Foreigners accounted for one fifth of high-end property purchases in Italy in 2024, according to data from luxury real estate agency Engel&Volkers – though the percentages vary significantly depending on region (see more below).
Americans make up the largest share of international buyers, with new data from Italian property portal Gate-away showing that one quarter of sales in 2025 were to US citizens.
Brits accounted for 12.72 percent of purchases, Germans for 8.81 percent, Italians 7.07 percent, and French citizens 5.42 percent.
The sector is currently in a state of flux: despite remaining the biggest buyer group, interest from Americans shrank by 21.6 percent last year compared to 2024, while the number of German buyers was down 13.6 percent.
Meanwhile, interest among Brits grew by 23.23 percent, and there was “very strong growth” from Spain, Greece, the Czech Republic, Romania, Brazil, Argentina, India, and Mexico.
Enquiries from foreigners already on the ground in Italy increased by 18.58 percent compared to 2024: “a clear sign that tourism is increasingly oriented towards purchasing projects,” according to Gate-away’s analysis.
Where are people going?
Central Italy is the preferred destination for foreign buyers, who account for 60 percent of sales in this part of the country, according to Engel&Volkers’ 2025 Italy market report.
“Foreign demand is mainly concentrated in the outlying areas between Pisa and Lucca and Pisa and Florence,” with popular towns like San Giuliano Terme and Calci attracting “an international market of Germans, Swiss, British and North Americans,” the agency said.
In the north, foreigners make up only around 30 percent of the market share, and in the south and the islands, 35 percent.
That tallies with the figures from Gate-away, which showed that Tuscany remained the most sought-after Italian region in 2025 – despite seeing a year-on-year decline – with a 14.77 percent share.
Sicily came in second with 11.23 percent, and Lombardy – home to Italy’s major lakes as well as the northern capital of Milan – third, with 8.84 percent.
Of Italy’s major cities, Rome attracted the most interested in 2025, followed by Florence, Genoa and Milan.
The whitewashed town of Ostuni in Italy’s southern Puglia region cemented its position as the most popular destination for foreigners by coming out top for the second year running, while interest in lesser-known towns such as Caltagirone and Carovigno increased.
READ ALSO: The surprising places foreigners moving to Italy want to live
“Foreign buyers today are more aware, more prudent, and much more attentive to the real value of their investment," said Gate-away co-founder Simone Rossi.
“This is redrawing the map of international interest in Italy and opening up enormous opportunities for provinces and municipalities that until a few years ago were off the radar.”
Flat tax
Part of the attraction for some foreign buyers may be Italy’s annual flat tax for the super-rich, which was raised from €200,000 to €300,000 at the start of this year by the Meloni government.
While the regime initially didn’t attract that much interest when it first came on the table in 2018, increasing numbers of people have since taken advantage of the programme.
A total of 1,495 people opted in to the scheme in 2023, according to Italy’s Revenue Agency – up from 803 in 2021 and 263 in 2018.
Other prospective Italian home owners might be attracted by a different flat tax – the 7 percent tax rate for pensioners relocating to Italy from abroad.
READ ALSO: Is Italy's flat tax rate for pensioners still available in 2026?
The regime comes with a number of restrictions, including which part of the country you can move to and the population size of your desired town, but it’s still attracted some limited interest.
One of The Local’s readers recently told us they chose their adopted hometown in the central Abruzzo region partly because it was included in the list of eligible municipalities.
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