According to an analysis by Abitare Co., property sales in seaside locations increased by an average of 26.3% between 2019 and 2023.
Portofino
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The market for seaside property in Italy appears to be on the move. An analysis by the real estate brokerage and services company Abitare Co., which examined 105 of Italy's most renowned coastal locations, found that property sales in seaside locations increased by an average of 26.3% between 2019 and 2023. Sardinia leads the growth with a 64.5% increase, followed by Basilicata (+59.2%), Sicily (+34.7%), and Puglia (+30.3%). Prices have also risen, with the highest average values recorded in Portofino (€19,450/m²) and Porto Cervo (€19,375/m²). Let’s take a closer look at the findings of the survey.

The analysis by Abitare Co. highlighted that in 2023, residential property sales in major seaside locations in Italy, including many second homes, grew by an average of 26.3% compared to 2019, a positive trend that contrasts with the decline recorded in the eight metropolitan cities (-9.2%). The increase in sales has consequently triggered a rise in prices in coastal towns, which have grown by an average of 26.7% from the first half of 2019 to the first half of 2024, particularly in Alassio (+45.8%), Viareggio (+44.5%), and Castiadas (+44.5%). The highest average prices for new or renovated homes are found in Portofino (€19,450/m², with peaks of up to €25,500/m²) and Porto Cervo (€19,375/m², with maximum values reaching €27,000/m²).

The survey also pointed out that at the regional level, Sardinia clearly outpaced other regions (with an average increase in sales of +64.5% between 2019 and 2023). Following are Basilicata (+59.2%), Sicily (+34.7%), and Puglia (+30.3%). However, the analysis revealed a surprise: some regions that rely heavily on tourism and the beauty of their coasts as a significant part of their economic output have underperformed, such as Emilia-Romagna (+20.7%), Liguria (+17.6%), Tuscany (+15.5%), and Veneto (+14.8%).

As for the locations that recorded the highest increase in sales between 2019 and 2023, the top 10 coastal municipalities have, on average, more than doubled sales compared to 2019. Among these are:

  • Castiadas (+264.5% in sales);
  • Pantelleria (+142.5%);
  • Portofino (+130%);
  • Rodi Garganico (+112.8%);
  • Maratea (+108.0%).

Sardinia places four additional locations in the top 10 (5 in total): besides Castiadas, we find Stintino (+87.1%), Santa Teresa Gallura (+74.5%), Porto Cervo (+78.6%), and Arzachena (+61.3%).

On the other hand, the less dynamic municipalities, which on average experienced a 20.7% decrease in transactions compared to pre-Covid times, include:

  • Positano (-32.0%);
  • Sorrento (-28.6%);
  • Spotorno (-28.8%);
  • Monterosso (-17.7%);
  • Bonassola (-26.4%);
  • Portovenere (-24.6%);
  • Otranto (-7.3%).

In terms of prices, the locations with the highest values are those that attract international demand in addition to domestic interest. The absolute leader is Portofino, where average prices in the first half of 2024 stand at €19,450/m², with the most sought-after properties reaching up to €25,500/m², and Porto Cervo, with average prices of €19,375/m² and values up to €27,000/m² for luxury villas.

Among exclusive destinations with average prices above €9,000/m² are also Porto Rotondo (€12,050/m², with peaks of €18,500/m²), Capri (€10,150/m², with peaks of €14,700/m²), Santa Margherita Ligure (€9,875/m², with peaks of €15,000/m²), and Forte dei Marmi (€9,800/m², with peaks of €15,200/m²).

Below €4,000/m², one can purchase a home in Lignano Sabbiadoro (€3,900/m²), Chiavari (€3,825/m²), Villasimius (€3,750/m²), with the cheapest options in Gallipoli (€2,200/m²), Otranto (€2,310/m²), and San Vito Lo Capo (€2,200/m²).

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