Second homes in Italy by the sea or lake: trends for summer 2024

The real estate market in coastal and lakeside areas in Italy, according to an analysis by the Tecnocasa Group's Research Office, shows general price stability. After the post-pandemic sales boom, the market is returning to normal, with transactions for holiday homes remaining stable in 2023 compared to 2022, representing 7.1% of total sales by agencies. Let's take a closer look at all the real estate trends for summer 2024 on the Italian coast and by the country's lakes. 

Prices of houses by the lake and sea in Italy

Prices have slightly decreased around Lake Garda (-0.4%), while Lake Como has seen an increase (+1.9%), particularly on the Como side (+5.5%) as opposed to the Lecco side, which experienced a decline (-0.4%). Lake Iseo has seen a rise (+0.6%). Lakeside locations in Lazio are struggling with significant declines (-4.2% at Lake Bracciano and -5.7% at Lake Bolsena).

Coastal locations have seen an average increase of 0.5%. Some regions along the Adriatic coast, such as Abruzzo (+1.7%) and Molise (+6.9%), performed well. Veneto (+2.4%), Sardinia (+2.1%), and Calabria (+1.7%) also showed good performance. There was a slight decline in Puglia (-2.0%) and Sicily (-1.2%).

"In the holiday home market," says Fabiana Megliola, Head of the Research Office at the Tecnocasa Group, "some trends observed in recent years have been confirmed, while others have become more evident. In the second half of 2023, property values in lakeside locations decreased by 0.3%.

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Buyers of houses by the lake and sea

There is a significant presence of foreign buyers attracted by the beauty of Italy, who in 2023 represented 13.5% of buyers (up from 10.7% in 2019). At the end of 2023 and the beginning of 2024, the conflict in Ukraine and the slowdown of the German economy had an impact, with German citizens showing more caution, postponing purchases or reducing their investment, especially around Lake Garda.

Conversely, there has been an increase in purchases in more affordable tourist locations, such as Iseo. The tensions in Ukraine have led Polish residents to seek holiday homes in Italy, perceived as a safe haven. These buyers are drawn to locations with affordable prices and an existing Polish community, such as Scalea, Bordighera, Caorle, Sant’Antioco, Badesi, Taormina, Terrasini, Castellammare del Golfo, and Alcamo. There is also a shift of French buyers from the French Riviera to Liguria, attracted by lower prices.

The importance of cycle paths

Infrastructure and cycle paths have played a positive role in the market. "The speed and convenience of connections," explains Fabiana Megliola, "are crucial for the tourist market. Improving accessibility via the railway network has increased sales in the Adriatic regions, from 9.6% in 2019 to 11.9% in 2023.

Cycle paths are also a significant attraction, with famous routes such as those around Lake Garda (Lazise, Riva del Garda, Costermano, Malcesine), along the Ligurian coast (San Lorenzo al Mare, Diano Marina, Imperia) and inland in Savona (Finale Ligure, especially Final Borgo for mountain biking), as well as the new cycle path in Veneto with Jesolo. Jesolo is also expecting a new motorway exit on the A4, which could improve the accessibility and attractiveness of the location."

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Which holiday homes are selling the most?

Three-room apartments are the most requested type of holiday home, accounting for 32.5% of transactions, followed by detached and semi-detached houses at 28.2%, and two-room apartments at 24.4%. Compared to last year, there has been a slight decrease in detached solutions (from 29.4% to 28.2%) and an increase in three-room apartments (from 30.3% to 32.5%).

Holiday home buyers are mainly people aged between 45 and 54 (26.1%) and between 55 and 64 (26.5%), with an increase in the average age compared to 2022, when the 45-54 age group accounted for 31.5%. Younger buyers, under 34 years old, have also increased from 5.7% to 7.0%, as have those over 64, from 16.0% to 18.6%.

There is a growing percentage of single buyers purchasing holiday homes, rising to 18.6% in 2023, with a steadily increasing trend in recent years. Meanwhile, the share of purchases with a mortgage for holiday homes has fallen to its lowest in recent years, with only 12.1% of transactions supported by a mortgage in 2023.