Foreigners in search of the dolce vita in Rome: but what are they really looking for? First and foremost, a luxury home, which means many things. Large, bright, well-located but not only. The needs of the luxury buyer in the capital are many, and foreigners have high expectations. Let's examine them in detail according to the Barnes Index City 2023.
Luxury real estate in Rome
Luxury real estate is an ever-expanding sector in Italy, with Milan and Rome leading the way in growth that is expected to reach +0.3% by the end of 2023, after a strong rebound to +6.7% in 2021 and +3.7% in 2022. This is confirmed by the data released by the Barnes Index City 2023, the annual report compiled by Barnes, an international real estate network specialising in luxury real estate and in the brokerage of luxury services related to the 'Art de Vivre', which sees the capital in eleventh place among the most sought-after cities by the world's super-rich.
How much the rich spend on a luxury home
Barnes Index City 2023 estimated that the super-rich spend an average of 5 million on their second home. According to jurisprudence, a dwelling is defined as luxury when its total usable area exceeds 240 square metres, excluding from this measure balconies, terraces, cellars and all related space.
The perfect luxury home in the capital
What are the characteristics sought after by buyers, especially foreigners, in today's world of luxury real estate?
La Dolce Vita
Dreamt of and idealised, what foreigners look for in Rome is precisely the magic that the capital hides in its streets. Increasingly in demand in fact, is a location in the historic centre and adjacent neighbourhoods to enjoy all the benefits of the neighbourhood and relive a Fellini film, offers the buyer the Dolce Vita experience much envied abroad, which is then fulfilled precisely by the property's strategic location.
Panoramic View
In addition to the square footage, which must be very extensive, the second must-have is definitely the panoramic view. Among the most sought-after types in the historic centre are penthouses with terraces and a panoramic view of the eternal city and that allow owners to enjoy a large outdoor space.
All comforts
The comforts of the building: not only must the desired flat reflect the highest quality standards, but the entire property must be able to meet the buyer's needs, starting with the conciergerie and ending with the relaxation area with gym and swimming pools.
Energy efficiency
One of the big challenges for the coming years will be precisely the energy efficiency of housing, which is currently a central concern for buyers and difficult to implement in historic buildings. The luxury buyer is in fact paying more and more attention to this issue, putting it high on the list of priorities when selecting a property.
Who is the luxury buyer in the capital
As far as the typical buyer is concerned, most enquiries come from America and Northern Europe, looking mainly for a second home. Rome also attracts many LGBTQ+ couples from all over the world, with high incomes and no children.
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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.
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