Premium real estate globally is experiencing price increases: average annual prices are reported to have risen by 3.7 per cent in 45 countries from December 2022 to December 2023. This is according to data from Knight Frank's Prime Global Cities Index. Leading the ranking is Manila; however, Italy also has a strong concentration of luxury residential properties. Here is where they are located.
The ranking of countries where luxury homes are most expensive
Manila, according to Knight Frank's report, tops the list of countries with the most expensive high-end residences, with a price growth rate of 26.3%, due to increased demand for housing from expats. Dubai follows, with an increase of 15.1%. In the United States, the scenario varies by city: Los Angeles recorded a recovery, with an increase of 8.2% over the year; Miami also showed good growth, with +6.5%, while New York recorded a drop in prices, down 3.3% over the year.
Vancouver performed well, with prime real estate prices up a substantial +7.2%, despite the fact that the Central Bank of Canada maintained its benchmark interest rate at 5%: the highest in 22 years.
Ultra-luxury real estate: prices without borders
Numbers are also soaring for ultra-luxury real estate in various cities. According to the agency's newly released Global Super-Prime Intelligence, sales of super-prime homes ($10m and up) rose 11% year-on-year in the fourth quarter of 2023.
In total, there were 411 transactions in 12 markets, compared to 370 in the same period of 2022, worth $31.9 billion.
The largest market for the extra-luxury segment is Dubai, where 108 properties in this category were sold in the last quarter of last year. London and New York followed, with 52 transactions each. Hong Kong dropped to 15 sales, excluded for the first time from the top five locations. In fourth and fifth place are Sydney and Geneva.
Luxury homes in Italy: where are they?
What is the situation in Italy? In Italy, super prime properties are concentrated in Sardinia, Lake Como and Tuscany. Examples of properties on the market include Villa La Tana in Bagno a Ripoli, Florence, which in its rich history boasts numerous purchases by renowned figures such as Francesco de Medici of the family of the same name and the architect Giulio Foggini, who also designed Galileo Galilei's tomb.
Another example of super-prime property is Tenuta Serristori in the Bolgheri area, which includes 6 villas (5 sold, one still on the market) with prices starting from 10 million. This is an extraordinary development project which offers buyers the production of personalised wine labels, a private beach and property management services managed by Palazzo Tornabuoni in Florence.
The latter, a building of luxury private residences (entirely sold) offers tenants the same services as the Four Seasons Hotel: common areas for lunches, dinners and relaxation, a Spa with private garden and the possibility of joining the Tornabuoni Club, with preferential access to museums and art galleries and a networking space for events, wine tastings and seminars on economics and design.
Find luxury property for sale in Italy
Luxury properties in Italy span from historic villas in the countryside to elegant city apartments and coastal estates along the Mediterranean. Historic villas boast sprawling gardens and panoramic views, while coastal estates offer private beaches and infinity pools. Upscale apartments in cities like Rome and Florence provide access to cultural attractions, and vineyard estates in regions like Tuscany feature wine cellars and tasting rooms. Lakefront villas on lakes like Como and Garda offer tranquillity and stunning views. Start searching for your dream home in Italy today with idealista, and check out our selection of the finest luxury homes for sale in Italy.
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The buying process for luxury properties in Italy
Italy is renowned for its captivating landscapes, rich cultural heritage, and luxurious lifestyle. If you’re considering purchasing a luxury property in this stunning country, the process may seem daunting, but with the right knowledge and guidance, it can be a smooth and exciting journey. In this article, we will walk you through the essential steps of the buying process for luxury properties in Italy, from understanding the market to finalising the deal.
Castello Thomson: a rare opportunity to own a historic Lake Como castle for €9,995,000
Situated in the prestigious Carate Urio, Castello Thomson is a one-of-a-kind property that perfectly blends history with luxury. Originally built atop a 9th-century tower, this extraordinary estate has been transformed into a magnificent residence by the renowned Venetian architect Tobia Scarpa. For those seeking the ultimate in exclusivity, the property on the market for €9,995,000 and listed on idealista offers an unparalleled opportunity to own a historic castle overlooking the stunning Lak
Big spenders from abroad favour villas in Italy (especially on Lake Como or in Tuscany)
In some of Italy’s most exclusive areas, the majority of demand for luxury villas or apartments (with average prices exceeding one and a half million euros) comes from foreign buyers. This is revealed by a report from idealista/data, which also highlights that the top 10 most sought-after locations among wealthy buyers worldwide for single-family homes consist solely of towns in Tuscany or on Lake Como.
Luxury in Italy: "Foreign investors continue to see Italy as a safe and prestigious destination"
On the other side of the property market—closely linked to credit and its uncertainties—the luxury real estate sector continues to thrive, showing no signs of slowing down even this year. But why? What drives the dynamics of such a complex segment?
The most sought-after ski resorts in Italy for luxury real estate
The charm of the mountains and luxury ski resorts continues to attract the attention of international investors. According to the Ski Report 2025 by Berkshire Hathaway HomeServices, the stunning landscapes of Northern Italy are once again in the spotlight, having seen a significant rise in the value of luxury real estate in mountain resorts and lakeside areas, driven by steadily growing demand.
Exclusive modern villa with Lake Garda views in Torri del Benaco
Nestled in the scenic hills of Torri del Benaco, this extraordinary modern villa offers an unparalleled blend of luxury, comfort, and breathtaking views of Lake Garda. Priced at €3,000,000, this property stands out as a true masterpiece for those seeking refined living in one of Italy’s most enchanting regions.